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|
Financial Statements
|
Operating Budget
for Fiscal Year 2006
(July 1, 2005 - June 30, 2006)
|
Operating Budget
for Fiscal Year 2007
(July 1, 2006 - June 30, 2007)
|
|
| Administration |
| Personnel | $ | 320,000 |
| | $ | 335,000 |
| |
| Rent, supplies, etc. | $ | 140,000 |
| | $ | 110,000 |
| |
| Insurance | $ | 25,000 |
| | $ | 25,000 |
| |
| Professional Fees | $ | 15,000 |
$ | 500,000 | $ | 15,000 |
$ | 485,000 |
| | | |
| | |
|
| Operations |
| Sanitation | $ | 525,000 |
| | $ | 540,000 |
| |
| Security | $ | 255,000 |
| | $ | 265,000 |
| |
| Homeless Outreach | $ | 110,000 |
| | $ | 115,000 |
| |
| Traffic Management | $ | 10,000 |
$ | 900,000 | $ | 10,000 |
$ | 930,000 |
| | | |
| | |
|
| Marketing |
| Identity & Marketing | $ | 325,000 |
| | $ | 150,000 |
| |
| Beautification | $ | 125,000 |
| | $ | 130,000 |
| |
| Streetscape Improvements | $ | 30,000 |
$ | 480,000 | $ | 45,000 |
$ | 325,000 |
| | | |
| | |
|
| Contingency | $ | 0 |
$ | 0 | $ | 0 |
$ | 0 |
| | | |
| | |
|
| Use of Reserves | ($ | 230,000) |
($ | 230,000) | ($ | 90,000) |
($ | 90,000) |
| | | |
| | |
|
| Grand Total | | |
$ | 1,650,000 | | |
$ | 1,650,000 |
|
The Fiscal Year 2007 budget continues the assessment of approximately $00.06 per square foot on commercial property. Residents pay a flat assessment fee of $1.00 per year.
| Statements of Financial Position |
|
| | 2005 | 2004 |
| Assets |
| Cash | $ |
1,125,846 | $ |
1,354,645 |
| Assessment Receivable | |
0 | |
0 |
| Organizational Costs | |
38,988 | |
62,382 |
| Other Assets | |
47,110 | |
26,418 |
|
| Total | $ |
1,211,944 | $ |
1,443,445 |
| |
| Liabilities/Net Assets |
| Liabilities | $ |
184,048 | $ |
160,732 |
| Assessment Receivable | |
1,027,896 | |
1,282,713 |
|
| Total | $ |
1,211,944 | $ |
1,443,445 |
| Statements of Activities |
|
| | 2005 | 2004 |
| Support and Revenues |
| Assessment Revenue | $ |
1,650,000 | $ |
1,649,989 |
| Contributions/Interest | |
40,225 | |
74,928 |
|
| TOTAL | $ |
1,690,225 | $ |
1,724,917 |
| |
| Expenses |
| Marketing/Promotion | $ |
783,383 | $ |
237,599 |
| Security | |
270,062 | |
241,241 |
| Sanitation | |
487,755 | |
546,538 |
| Social Services | |
109,110 | |
120,078 |
| Public Improvements | |
83,046 | |
129,995 |
| Administration | |
211,686 | |
187,239 |
|
| TOTAL | $ |
1,945,042 | $ |
1,462,690 |
|
| Net Assets, End of Year | $ |
1,027,896
| $ |
1,282,713
|
|
Audited financial statements prepared by Skody, Scot & Company available upon request.
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