|
CITY OF RAMSEY, MINNESOTA
<br />DEVELOPMENT DISTRICT NO. 1
<br />COMBINED SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS
<br />For Tax Increment Financing Districts No. 1, 2, 4, 5 and No. 6
<br />For the Year Ended December 31, 1996
<br />(Unaudited)
<br /> Accounted Current
<br /> Original Amended for in Year Amount
<br /> Bud¢et Budeet Prior Years Amount Remainine
<br />SOURCES OF FUNDS:
<br />Bond proceeds (net) $ 4,150,000 $ 12,560,375 $ 5,729,047 $ 323,835 $ 6,507,493
<br />Tax increments received 6,220,626 8,006,081 5,933,160 1,360,011 712,910
<br />Interest on invested funds - - 1,184,937 88,281 (1,273,218)
<br />Special Assessments 788,000 1,576,000 8,107 - -
<br />Real estate sales - - 1,716,625 - (1,716,625)
<br />Total Sources of Funds 11,158,626 22,142,456 14,571,876 1,772,127 4,230,560
<br />
<br />USES OF FUNDS:
<br />Land acquisition - - 807,793 147,806 (955,599)
<br />Site improvements or
<br />preparation costs 167,400 782,400 1,787,372 38,726 (1,043,698)
<br />Installation of public utilities 8,735,250 10,030,120 3,635,302 1,253,900 5,140,918
<br />Streets and sidewalks 626,000 626,000 996,251 1,110,853 (1,481,104)
<br />Public park facilities - - 36,700 32,000 (68,700)
<br />Other public improvements 290,350 - 122,883 - (122,883)
<br />Bond payments -
<br />Principal 5,340,000 8,360,000 865,000 610,000 6,885,000
<br />Interest 3,746,407 5,520,237 2,120,562 319,701 3,079,974
<br />Loan payments -
<br />Principal - - 196,521 169,220 (365,741)
<br />Interest - - 93,569 27,966 (121,535)
<br />Administrative costs 753,000 318,000 44,256 8,767 264,977
<br />O[her -
<br />Payments to developers - - 31,866 136,500 (168,366)
<br />Total Uses of Funds 19,658,407 25,636,757 10,738,075 3,855,439 11,043,243
<br />DISTRICT BALANCE (8,499,781) (3,494,301) 3,833,801 (2,083,312) (6,812,683)
<br />Transfers to other funds - - (1,015,206) (243,954) 1,259,160
<br />FUNDS REMAINING $ (8,499,781) $ (3,494,301) $ 2,818,595 $ (2,327,266) $ (5,553,523)
<br />This supplementary schedule is required by Minnesota State Statutes. This schedule is unaudited, therefore,
<br />no opinion is expressed on it.
<br />-125-
<br />
|