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CITY OF RAMSEY, MINNESOTA
<br />DEVELOPMENT DISTRICT NO. 1
<br />SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS
<br />Tax Increment Financing District No.l
<br />For the Year Ended December 31, 1996
<br />(Unaudited)
<br />Original Amended
<br />Budeet Budeet
<br />Accounted Current
<br />for in Year Amount
<br />Prior Years Amount Remainine
<br />SOURCES OF FUNDS:
<br />Bond proceeds (net) $ 1,610,000 $ 5,760,000 $ 2,911,691 $ 323,835 $ 2,524,474
<br />Tax increments received 1,728,954 3,231,953 4,086,053 711,496 (1,565,596)
<br />Interest on invested funds - - 951,059 54,755 (1,005,814)
<br />Special Assessments - 788,000 8,107 -
<br />Real estate sales - - - - -
<br />Total Sources of Funds 3,338,954 9,779,953 7,956,910 1,090,086 (46,936)
<br />USES OF FUNDS:
<br />Land acquisition - - 286,519 - (286,5 ] 9)
<br />Site improvements or -
<br />preparation costs - 375,000 1,137 6,265 367,598
<br />Installation of public. utilities 4,800,000 2,235,850 2,853,207 54,812 (672,169)
<br />Streets and sidewalks - - - 6,257 (6,257)
<br />Public park facilities - - - 32,000 (32,000)
<br />Other public improvements - - 101,354 - (101,354)
<br />Bond payments -
<br />Principa] 2,800,000 5,760,000 750,000 585,000 4,425,000
<br />Interest 2,550,000 4,200,000 2,041,979 312,325 1,845,696
<br />Loan payments -
<br />Principal - - - - -
<br />Interest - - - - -
<br />Administrative costs 480,000 - 20,288 3,220 (23,508)
<br />Other -
<br />Payments to developers - - - - -
<br />Total Uses of Funds 10,630,000 12,570,850 6,054,484 999,879 5,516,487
<br />DISTRICT BALANCE (7,291,046) (2,790,897) 1,902,426 90,207 (5,563,423)
<br />Transfers to other funds (771,219) (142,698) 913,917
<br />FUNDS REMAINING $ (7,291,046) $ (2,790,897) $ 1,131,207 $ (52,491) $ (4,649,506)
<br />This supplementary schedule is required by Minnesota State Statutes. This schedule is unaudited, therefore
<br />no opinion is expressed on it.
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