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Jerome urban renewal agency R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 1/10 2019 Annual Report Jerome Urban Renewal Agency To create opportunities for economic growth through public improvements and neighborhood redevelopment. ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 2/8 I. EXECUTIVE SUMMARY The following summaries identify the major activity that was undertaken in the 2018 calendar year by the Jerome Urban Renewal Agency. Area 2 • The reconstruction of South Tiger Drive between Main Street and Nez Perce was completed in the spring of 2019. The awarded bid for the reconstruction was a total of $1,361,199.60. State IOEM funds totaling $387,279 were also contributed to the project. • Project Arete: Idaho Milk Products completed a $25 million expansion with the addition of 25 new jobs in the spring of 2019. Prior to the project announcement the JURA agreed to reimburse IMP costs associated with site remediation (up to $100,000 through increment property taxes) as well as assist with costs related to adding 70,000 gallons of flow and 250 pounds of BOD to its current wastewater permit. We are currently waiting on the new assessed value of the project site as well as the rock mitigation final costs before finalizing a reimbursement schedule. Area 3 • Project Horizon: Commercial Creamery completed construction on its expansion project in the summer of 2019. In order to accommodate the expansion, water and sewer lines were required to be rerouted. The JURA agreed to reimburse Commercial Creamery up to $300,000 through the increment taxes generated by this project for the cost of the public infrastructure in order for this project to move forward. It’s anticipated that this reimbursement will take place over a 5 year period of time and that the first reimbursement will take place in the spring of 2020. • Block 55, 56, and a portion of 66 were marketed in a request for proposal in 2019. Summit Creek Capital responded with an attractive mixed use proposal and an exclusive right to negotiate agreement was finalized with them on December 5, 2019. We’re hopeful that a development agreement will be signed in the summer of 2020 and that construction will commence shortly thereafter. • The JURA purchased the infamous “fire” property at 130 West Main Street. Additional parcels in the area are being pursued before we look at redevelopment opportunities. Area 4 • While there were no projects completed or commitments made in Area 4 in 2019, there were two large pieces of land purchased by private businesses. Nelson Jameson and Western Dairy Transport acquired property in Area 4 with the intent to construct new facilities in 2020. Area 5 • Magic Valley Quality Milk Products completed their multimillion dollar expansion in the spring of 2019. Their investment produced a significant amount of tax increment which can now go towards the completion of identified projects. We will look at the feasibility of advanced funding in 2020 so we can begin tackling some of the higher priorities to support the area. ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 3/8 II. MAP OF THE JEROME URBAN RENEWAL DISTRICTS The map below indicates the boundaries of the four active plan areas the Agency has established. ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 4/8 III. ORGANIZATION AND MISSION Mission and Vision To revitalize and improve the quality of life for Jerome; to create opportunities for economic growth through public improvements and neighborhood redevelopment. Currently, the agency oversees four different plans: Area 2, Area 3, Area 4, and Area 5. The City of Jerome established the Jerome Urban Renewal Agency in 1998 with the formation of the South Lincoln Plan (Area On July 7, 2011, the JURA Board voted to close the South Lincoln Area (Area 1) by September 30, 2012 which was 10 years earlier than required by state law. In late 2005, the Agency established the Southeast Industrial Area (Area which is now home to Idaho Milk Products and Jackson/Scoular. In 2013, the agency hired Kushlan Associates, a consulting firm, to assist with the eligibility report and economic feasibility study related to Area 3. The study was completed in 2014 and the Agency established Area 3 in December 2014. The area takes in all of W. Main to Interstate 84 within the City limits. This area would encompass some of the most dilapidated and blighted areas of Jerome. In 2014, the Agency also amended the Southeast Industrial Area (Area 2) to eliminate the unfunded portion, which then became the new Area 4. Finally, in 2018 the agency again hired Kushlan Associates to assist with the eligibility report and economic feasibility study related to Area 5. The study was completed in 2018 and the Agency established Area 5 in December of 2018. The Agency Board of Commissioners is currently comprised of five appointed individuals: • Gary Warr, Chair • Kathy Cone, Vice-Chair • Jason Peterson • Shonna Fraser • Bryan Craig Professional staff for the agency is comprised of both City of Jerome staff members and outside consultants hired by the Agency. Legal counsel is provided by Ryan Armbruster with Elam and Burke. City staff is comprised of Mike Williams, Executive Director, Ross Hyatt, Finance Director, Lori McCrae, Accounting & Budget Manager, Bernadette Gomes, Administrative Clerk, and Tyson Carpenter, City Engineer. ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 5/8 IV. STRATEGIC PRIORITIES On August 25, 2011, the Agency held a Strategic Planning meeting where the board members, staff, and public discussed the strategic focus areas for the next 12 months and five years. As a result, the Agency established its first mission statement, vision statement, and a strategic plan for the five years. The Agency had last officially updated the strategic priorities in January 2013. As part of its budgeting process in 2016, the Agency began identifying major areas of importance and outlined basic objectives for the agencies focus. Priority Objectives: • 12 Month Plan o Continue marketing downtown area for revitalization projects o Develop Block 55, 56, and 66 o Explore options for park and recreational opportunities to drive traffic downtown Green space, splash pad, etc. o Continue marketing Area 2, 4, and 5 as the prime location in the Magic Valley for industrial expansion o Pay down as much debt as possible on Area 2 • Long Term Directives o Acquire empty buildings and open spaces within Area 3 o Improve parking opportunities in Area 3 o Improve west entrance to Jerome for economic development and redevelopment o Maintain adequate water and sewer capacity for economic development o Support walkability and connectivity between key gathering points in the City and URA areas o Be debt free in Area 2 as soon as possible. V. TAX INCREMENT REVENUE: 2019 The only source of Agency income, other than interest on interest bearing accounts, is property taxes generated within the tax increment revenue allocation areas. In 2013 the Idaho Legislature approved legislation to provide personal property tax relief to all Idaho businesses while replacing the revenue losses for local governments, including Urban Renewal Agencies. At the conclusion of calendar year 2019, the total Tax Increment Revenue received by the Agency was $1,631,331 for the Southeast Industrial Area, $73,692 for the Downtown Improvement Project Area, and $24,312 for Area 4. The following chart shows a summary of revenue received for the 2019 calendar year: Urban Renewal Area Revenue Received in 2019 Southeast Industrial Area (Area 2) Downtown Improvements Project (Area 3) Area 4 $1,631,331 $ 73,692 $ 24,312 TOTAL $1,729,335 ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 6/8 VI. JEROME URBAN RENEWAL DISTRICTS • South Lincoln District - Closed The Jerome City Council formally approved the South Lincoln Urban Renewal Plan in December of 1998 through Ordinance No. 870. The plan was amended and restated as follows: November 1999 through Ordinance No. 887, December 2000 through Ordinance No. 903, and March 2003 through Ordinance No. 940. The base value for the district is $5,992,823. A copy of the complete plan with all amendments is available in the Office of the Jerome City Clerk, 152 East Ave. A, Jerome, ID. In 2012, the Agency closed the area. • Southeast Industrial Area o The Jerome City Council formally approved the Southeast Industrial Urban Renewal Plan in December of 2005 through Ordinance No. 986. The plan was amended and restated in December 2014 through Ordinance No. 1133. The adjusted base value for the district is $999,512. The copy of the plan is available in the Office of the Jerome City Clerk, 152 East Ave. A, Jerome, ID. • Area 3 o The Jerome City Council formally approved the Urban Renewal Plan for Area 3 in December 2014 through Ordinance No. 1135. The base value for the district is $30,160,058. The copy of the plan is available in the Office of the Jerome City Clerk, 152 East Ave. A, Jerome, ID. • Area 4 o The Jerome City Council formally approved the Urban Renewal Plan for Area 3 in December 2014 through Ordinance No. 1134. The base value for the district is $315,935. The copy of the plan is available in the Office of the Jerome City Clerk, 152 East Ave. A, Jerome, ID. • Area 5 o Area 5 was adopted by the Jerome City Council in December 2018. The base value for the district is 5,253,824. The copy of the plan is available in the Office of the Jerome City Clerk, 152 East Ave. A, Jerome, ID ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 7/8 VII. SUMMARY OF INCREMENT VALUE OF JURA DISTRICTS District Base Value Increment Value (2019) Southeast Industrial (Area 2) $ 999,512 $104,826,398 Area 3 $30,160,058 $ 11,181,013 Area 4 $ 315,935 $ 1,380,651 Area 2 has been very successful with the additions of Idaho Milk Products, Scoular, Inc. and Specialty Sales building new facilities in the Southeast Industrial Park. We are beginning to see increment value in Area 3 which appears to be mostly through property values increasing. We’re expecting a healthy increase to the increment in Area 3 with the improvements to Commercial Creamery, Franklin Building Supply, and the old “Paul’s Market” building. VIII. PROJECT PRIORITIES AND ALLOCATIONS FOR FY 2020 As part of our normal practice, any fund balance is allocated to the capital improvement line item in the budget to have available for unanticipated projects. Project District Budgeted Cost Explanation Infrastructure Area 2: SE Industrial $ 485,826 Projects to be determined Infrastructure Area 3: Downtown $ 206,950 Projects to be determined Infrastructure Area 4 $ 21,146 Projects to be determined Infrastructure Area 5 $ 207,380 Projects to be determined TOTAL PROJECT COSTS $ 921,302 IX. LEGAL REQUIREMENTS AND ADDITIONAL DOCUMENTATION Under the Idaho Urban Renewal Law, an urban renewal agency is required to file with the local governing body, on or before March 31 of each year, a report of its activities for the preceding calendar year, which shall include a complete financial statement setting forth its assets, liabilities, income and operating expense at the end of the calendar year. A copy of the Agency’s (informal) financial statements for the period ended December 31, 2019 is attached. By virtue of certain amendments to the Idaho Urban Renewal Law adopted in 2002, the fiscal year of an urban renewal agency has been established as October 1st through September 30th. Consequently, any formal financial statement would be limited to a report through the end of the Agency’s fiscal year. Under Idaho Code section 67- 450B, all local government entities must complete an audit of its statements at the conclusion of its ---PAGE BREAK--- Jerome urban renewal agency asdfasdfaef R:\URA\Reports\2019 Urban Renewal Agency Annual Report.docx 8/8 fiscal year. A copy of the Agency’s 2019 audited financial statements is also attached for purposes of review and comment. In accordance with new reporting requirements under Idaho Code Section 67- 450(E) the Agency must submit certain information to the Legislative Services Office by December 1, 2019 for the 2019 fiscal year period ending on September 30, 2019. The Agency filed this report prior to the statutory deadline of December 1, 2019. Public Involvement and Outreach On March 21, 2019 at 3:00 p.m., this annual report was officially presented to the public at a special meeting of the Jerome Urban Renewal Agency. In presenting this annual report, the Agency sought to engage the public for comment through several outreach mediums. Advertisement of the presentation of the annual report was accomplished by these methods: • Posted on the City of Jerome Facebook page (City of Jerome, Idaho) • Advertised on the City Website (cityofjerome.org) Fiscal Year Financial Statement (Audited) In March 2020, the Agency received a report from Rexroat, Harberd, and Associates expressing an opinion on the audit of the agency’s financial statements for Fiscal Year 2019. In this auditor’s opinion, the financial statements present fairly the financial position of the agency in conformity with accounting principle generally accepted in the United States of America. This report identifies the Agency’s assets, liabilities, income, and expenses through September 30, 2019. A copy of the report is also available on the City of Jerome’s website at cityofjerome.org Budget The Agency is also required to formally adopt its fiscal year budget by September 1 of each year. The Agency adopted its FY 2019-2020 Budget on August 22, 2019. As required by the Idaho Urban Renewal Law and Local Economic Development Act, the Agency has filed its budget with the City of Jerome. Copies of the budget are available through the Agency’s offices. X. APPENDIX • The Jerome Urban Renewal Agency Financial Statements for FY 2019 (Audit) • Balance Sheet (FY 2019-2020, Period Ended 12/31/2019) • Revenue/Expense Report (FY 2019-2020, Period Ended 12/31/2019) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2019 URBAN RENEWAL - SE INDUSTRIAL FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 2 ASSETS 09-00-00-1000 CASH IN POOLED CASH FUND 810,729.49 09-00-00-1006 DEBT RESERVE 2008 - LGIP 451,046.78 09-00-00-1007 DEBT SERVICE FUND 2008 - LGIP 3.15 09-00-00-1023 DUE FROM AREA 3 24,574.22 09-00-00-1024 DUE FROM AREA 4 12,717.95 09-00-00-1025 DUE FROM AREA 5 34,931.54 09-00-00-1500 LONG TERM DEBT 2,484,833.74 TOTAL ASSETS 3,818,836.87 LIABILITIES AND EQUITY LIABILITIES 09-00-00-2001 ACCOUNTS PAYABLE 951.94 09-00-00-2180 BONDS PAYABLE - 2008 USB 1,884,833.74 09-00-00-2181 MISC PYBL - NS DEVELOP/JACKSON 600,000.00 TOTAL LIABILITIES 2,485,785.68 FUND EQUITY 09-00-00-2500 FUND BALANCE 1,334,029.67 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 978.48) BALANCE - CURRENT DATE ( 978.48) TOTAL FUND EQUITY 1,333,051.19 TOTAL LIABILITIES AND EQUITY 3,818,836.87 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - SE INDUSTRIAL PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 3 SOURCE 00 09-00-00-3001 TAX INCREMENT REV-SE INDUSTRIA 1,631,331.24 .00 1,637,261.00 1,637,261.00 .0 09-00-00-3249 PERSONAL PROP REPLACEMENT 7,784.98 .00 2,968.00 2,968.00 .0 09-00-00-3373 INTEREST EARNED 18,733.86 1,248.13 1,022.00 ( 226.13) 122.1 TOTAL SOURCE 00 1,657,850.08 1,248.13 1,641,251.00 1,640,002.87 .1 TOTAL FUND REVENUE 1,657,850.08 1,248.13 1,641,251.00 1,640,002.87 .1 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - SE INDUSTRIAL PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 4 DEPARTMENT 00 09-00-00-4131 OFFICE SUPPLIES & POSTAGE .00 .00 50.00 50.00 .0 09-00-00-4132 OPERATING SUPPLIES .00 .00 100.00 100.00 .0 09-00-00-4142 PROFESSIONAL SERVICES 7,208.38 406.58 10,119.00 9,712.42 4.0 09-00-00-4144 ADVERTISING & PUBLISHING 261.76 .00 353.00 353.00 .0 09-00-00-4146 INSURANCE & BONDS 1,044.10 369.10 345.00 ( 24.10) 107.0 09-00-00-4148 DUES & SUBSCRIPTIONS 421.46 421.46 345.00 ( 76.46) 122.2 09-00-00-4157 INTEREST EXPENSE /DEBT SERVICE 1,112,678.02 .00 1,250,000.00 1,250,000.00 .0 09-00-00-4169 MISCELLANEOUS EXPENSE .00 .00 25.00 25.00 .0 09-00-00-4179 REIMBURSE JACKSON-SCOULAR .00 .00 600,000.00 600,000.00 .0 09-00-00-4181 AREA 4 EXPENSE .00 .00 500.00 500.00 .0 09-00-00-4182 AREA 5 EXPENSE ( 11,912.42) .00 .00 .00 .0 09-00-00-4186 ADMINISTRATION EXPENSE 6,468.95 1,029.47 3,909.00 2,879.53 26.3 09-00-00-4187 ECONOMIC DEVELOPMENT SUPPORT 25,000.00 .00 25,000.00 25,000.00 .0 09-00-00-4188 INSIDE ENGINEERING EXPENSE 3,151.50 .00 .00 .00 .0 09-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION 24,166.97 .00 485,826.00 485,826.00 .0 TOTAL DEPARTMENT 00 1,168,488.72 2,226.61 2,376,572.00 2,374,345.39 .1 TOTAL FUND EXPENDITURES 1,168,488.72 2,226.61 2,376,572.00 2,374,345.39 .1 NET REVENUE OVER EXPENDITURES 489,361.36 ( 978.48) ( 735,321.00) ( 734,342.52) ( ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2019 URBAN RENEWAL - AREA 3 FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 5 ASSETS 10-00-00-1000 CASH IN POOLED CASH FUND 108,968.81 TOTAL ASSETS 108,968.81 LIABILITIES AND EQUITY LIABILITIES 10-00-00-2001 ACCOUNTS PAYABLE 4,562.66 10-00-00-2079 DUE TO SE INDUSTRIAL AREA 2 24,574.22 TOTAL LIABILITIES 29,136.88 FUND EQUITY 10-00-00-2500 FUND BALANCE 87,811.86 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 7,979.93) BALANCE - CURRENT DATE ( 7,979.93) TOTAL FUND EQUITY 79,831.93 TOTAL LIABILITIES AND EQUITY 108,968.81 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - AREA 3 PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 6 SOURCE 00 10-00-00-3001 TAX INCREMENT REVENUE - DOWNTO 73,692.06 109.83 128,986.00 128,876.17 .1 10-00-00-3249 PERSONAL PROPERTY REPLACEMENT 3,834.40 .00 8,030.00 8,030.00 .0 10-00-00-3373 INTEREST EARNED 1,982.45 221.76 2,764.00 2,542.24 8.0 TOTAL SOURCE 00 79,508.91 331.59 139,780.00 139,448.41 .2 TOTAL FUND REVENUE 79,508.91 331.59 139,780.00 139,448.41 .2 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - AREA 3 PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 7 DEPARTMENT 00 10-00-00-4131 OFFICE SUPPLIES & POSTAGE .00 .00 50.00 50.00 .0 10-00-00-4142 PROFESSIONAL SERVICES 9,687.13 3,262.05 15,204.00 11,941.95 21.5 10-00-00-4144 ADVERTISING & PUBLISHING 204.96 .00 515.00 515.00 .0 10-00-00-4146 INSURANCE & BONDS 998.65 998.65 933.00 ( 65.65) 107.0 10-00-00-4148 DUES & SUBSCRIPTIONS 1,140.33 1,140.33 933.00 ( 207.33) 122.2 10-00-00-4157 INTEREST EXPENSE .00 .00 25,322.00 25,322.00 .0 10-00-00-4163 OTHER PURCHASED SERVICES 609.29 609.29 .00 ( 609.29) .0 10-00-00-4186 ADMINISTRATION EXPENSE 5,471.68 2,301.20 10,576.00 8,274.80 21.8 10-00-00-4277 CAPITAL OUTLAY - REAL EST ACQ 50,169.50 .00 .00 .00 .0 10-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 .00 206,950.00 206,950.00 .0 TOTAL DEPARTMENT 00 68,281.54 8,311.52 260,483.00 252,171.48 3.2 TOTAL FUND EXPENDITURES 68,281.54 8,311.52 260,483.00 252,171.48 3.2 NET REVENUE OVER EXPENDITURES 11,227.37 ( 7,979.93) ( 120,703.00) ( 112,723.07) ( 6.6) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2019 URBAN RENEWAL - AREA 4 FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 8 ASSETS 11-00-00-1000 CASH IN POOLED CASH FUND 24,195.76 TOTAL ASSETS 24,195.76 LIABILITIES AND EQUITY LIABILITIES 11-00-00-2001 ACCOUNTS PAYABLE 150.28 11-00-00-2079 DUE TO SE INDUSTRIAL AREA 2 12,717.95 TOTAL LIABILITIES 12,868.23 FUND EQUITY 11-00-00-2500 FUND BALANCE 11,696.96 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 369.43) BALANCE - CURRENT DATE ( 369.43) TOTAL FUND EQUITY 11,327.53 TOTAL LIABILITIES AND EQUITY 24,195.76 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - AREA 4 PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 9 SOURCE 00 11-00-00-3001 TAX INCREMENT REV-AREA 4 24,311.58 .00 24,303.00 24,303.00 .0 11-00-00-3249 PERSONAL PROP REPLACEMENT .00 .00 621.00 621.00 .0 11-00-00-3373 INTEREST EARNED 138.44 47.64 214.00 166.36 22.3 TOTAL SOURCE 00 24,450.02 47.64 25,138.00 25,090.36 .2 TOTAL FUND REVENUE 24,450.02 47.64 25,138.00 25,090.36 .2 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - AREA 4 PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 10 DEPARTMENT 00 11-00-00-4142 PROFESSIONAL SERVICES 179.32 79.32 1,176.00 1,096.68 6.7 11-00-00-4144 ADVERTISING & PUBLISHING .00 .00 32.00 32.00 .0 11-00-00-4146 INSURANCE & BONDS 77.25 77.25 73.00 ( 4.25) 105.8 11-00-00-4148 DUES & SUBSCRIPTIONS 88.21 88.21 73.00 ( 15.21) 120.8 11-00-00-4157 INTEREST EXPENSE/DEBT SERVICE .00 .00 13,511.00 13,511.00 .0 11-00-00-4186 ADMINISTRATION EXPENSE 172.29 172.29 818.00 645.71 21.1 11-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 .00 21,146.00 21,146.00 .0 TOTAL DEPARTMENT 00 517.07 417.07 36,829.00 36,411.93 1.1 TOTAL FUND EXPENDITURES 517.07 417.07 36,829.00 36,411.93 1.1 NET REVENUE OVER EXPENDITURES 23,932.95 ( 369.43) ( 11,691.00) ( 11,321.57) ( 3.2) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2019 URBAN RENEWAL - AREA 5 FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 11 ASSETS 12-00-00-1000 CASH IN POOLED CASH FUND ( 20.00) TOTAL ASSETS ( 20.00) LIABILITIES AND EQUITY LIABILITIES 12-00-00-2079 DUE TO SE INDUSTRIAL AREA 2 34,931.54 TOTAL LIABILITIES 34,931.54 FUND EQUITY 12-00-00-2500 FUND BALANCE ( 34,931.54) UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 20.00) BALANCE - CURRENT DATE ( 20.00) TOTAL FUND EQUITY ( 34,951.54) TOTAL LIABILITIES AND EQUITY ( 20.00) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - AREA 5 PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 12 SOURCE 00 12-00-00-3001 TAX INCREMENT AREA 5 .00 .00 225,000.00 225,000.00 .0 TOTAL SOURCE 00 .00 .00 225,000.00 225,000.00 .0 TOTAL FUND REVENUE .00 .00 225,000.00 225,000.00 .0 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2019 URBAN RENEWAL - AREA 5 PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 13 DEPARTMENT 00 12-00-00-4142 PROFESSIONAL SERVICES 19,571.13 20.00 .00 ( 20.00) .0 12-00-00-4144 ADVERTISING & PUBLISHING 1,901.93 .00 .00 .00 .0 12-00-00-4157 INTEREST EXPENSE/DEBT SERVICE .00 .00 17,620.00 17,620.00 .0 12-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 .00 207,380.00 207,380.00 .0 TOTAL DEPARTMENT 00 21,473.06 20.00 225,000.00 224,980.00 .0 TOTAL FUND EXPENDITURES 21,473.06 20.00 225,000.00 224,980.00 .0 NET REVENUE OVER EXPENDITURES ( 21,473.06) ( 20.00) .00 20.00 .0 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2019 POOLED CASH FUND FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 03/05/2020 09:41AM PAGE: 14 ASSETS 75-00-00-1000 CASH ALLOCATED TO OTHER FUNDS ( 943,874.06) 75-00-00-1001 POOLED CHECKING 242,112.92 75-00-00-1003 INVESTMENTS - STATE TREAS LGIP 701,761.14 TOTAL ASSETS .00