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<br />CITY OF RAMSEY, MINNESOTA
<br /> DEVELOPMENT DISTRICT NO. 1
<br /> SCHEDULE OF SOURCES AND USES OF PUBLIC FUNDS
<br /> Tax Increment Financing District No. 2
<br /> For the Year Ended December 31, 1996
<br /> (Unaudited)
<br />
<br /> Accounted Current
<br /> Original Amended for in Year Amount
<br /> Budeet Budeet Pri or Years Amount 'n'n
<br /> SOURCES OF FUNDS:
<br />
<br />Bond proceeds (net)
<br />$ 2,540,000
<br />$ 3,210,375 $
<br />2,584,566 -
<br />$
<br />$ 625,809
<br /> Tax increments received 1,396,713 1,679,169 872,170 233,604 573,395
<br /> Interest on invested funds
<br />Special Assessments -
<br />788,000 =
<br />788,000 70,539 5,598 (76,137)
<br /> Real estate sales 1,716,625 (1,716,625)
<br /> Total Sources of Funds 4,724,713 5,677,544 5,243,900 239,202 (593,558)
<br />' USES OF FUNDS:
<br />
<br />Land acquisition
<br />- -
<br />476,236
<br />147,806
<br />(624,042)
<br /> Site improvements or -
<br /> preparation costs 167,400 407,400 1,775,365 - (1,367,965)
<br /> Installation of public utilities 1,844,250 2,112,900 573,868 518,658 1,020,374
<br /> Streets and sidewalks - - 977,127 901,351 (1,878,478)
<br /> Public park facilities - - - - -
<br />' Other public improvements 290,350 - 2,426 - (2,426)
<br /> Bond payments -
<br /> Principal 2,540,000 2,600,000 - - 2,600,000
<br /> Interest 1,196,407 1,320,237 - - 1,320,237
<br /> Loan payments -
<br />
<br />Principal - - - -
<br /> Interest - - - -
<br />' Administrative costs
<br />Other - 25,000 70,000 5,986 1,640 62,374
<br /> Payments to developers 31,866 136,500 (168,366)
<br /> Total Uses of Funds 6,063,407 6,510,537 3,842,874 1,705,955 961,708
<br /> DISTRICT BALANCE (1,338,694) (832,993) 1,401,026 (1,466,753) (1,555,266)
<br /> Transfers to other funds (137,198) (38,778) 175,976
<br /> FUNDS REMAINING $ (1,338,694) $ (832,993) $ 1,263,828 $ (1,505,531) $ (1,379,290)
<br />
<br />
<br />This supplementary schedule is required by Minnesota State Statutes. This schedule is unaudited, therefore
<br />no opinion is expressed on it.
<br />-127-
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