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Jerome urban renewal agency R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.docx 1/8 2020 Annual Report Jerome Urban Renewal Agency To create opportunities for economic growth through public improvements and neighborhood redevelopment. ---PAGE BREAK--- Jerome urban renewal agency R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.docx 2/8 I. EXECUTIVE SUMMARY The following summaries identify the major activity that was undertaken in the 2020 calendar year by the Jerome Urban Renewal Agency. Area 2 • The JURA entered into a reimbursement agreement with Scoular, Inc. in the summer of 2020. Scoular is building a new $13 million plant that will convert barley concentrate into fish food. This new plant will employ 13 people and is likely to be the first of many phases of capital improvements at the Scoular facility. The agency agreed to reimburse Scoular up to $650,000 for public infrastructure/eligible costs associated with developing the facility. • The JURA executed an agreement with Intermountain gas to extend natural gas service into the Southeast industrial Park (Northside Subdivision). This project will serve all properties within Area’s 2 and 4. The cost of the project is estimated to be $260,000. Area 3 • The JURA purchased property at 120 W Main for future redevelopment. • The JURA extended an exclusive right to negotiate agreement with Summit Creek Capital for the redevelopment of Block 55, 56, and 66. It’s anticipated that a DDA will be signed and construction begin in 2021. • The JURA committed $25,000 to help with the redevelopment of Shepherds’ Park. Area 4 • While there were no projects completed or commitments made in Area 4 in 2020, we expect Nelson Jameson and Western Dairy Transport to construct new facilities in 2021. Area 5 • No major activity was conducted in Area 5 in 2020. ---PAGE BREAK--- Jerome urban renewal agency R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.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 R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.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 Coderniz, Administrative Clerk, and Tyson Carpenter, City Engineer. ---PAGE BREAK--- Jerome urban renewal agency R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.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: 2020 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 2020, the total Tax Increment Revenue received by the Agency was $1,717,453 for the Southeast Industrial Area, $187,520 for the Downtown Improvement Project Area, $15,756 for Area 4, and $226,935 for Area 5. The following chart shows a summary of revenue received for the 2020 calendar year: Urban Renewal Area Revenue Received in 2020 Southeast Industrial Area (Area 2) Downtown Improvements Project (Area 3) Area 4 Area 5 $1,717,453 $ 187,520 $ 15,756 $ 226,935 TOTAL $2,147,664 ---PAGE BREAK--- Jerome urban renewal agency R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.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 was $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 $1,221,754. 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 adjusted base value for the district is $38,093,940. 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 adjusted base value for the district is $316,935. 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 R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.docx 7/8 VII. SUMMARY OF INCREMENT VALUE OF JURA DISTRICTS District Adjusted Base Value (2019) Increment Value (2020) Southeast Industrial (Area 2) $ 1,221,754 $122,789,390 Area 3 $ 38,093,940 $ 17,288,445 Area 4 $ 316,935 $ 1,396,771 Area 5 $ 5,253,824 $ 12,951,408 In 2020 the total increment value of the Agency increased by $23,348,772. Area 2 increased by $17,962,992, an increase of 17.1% more than 2019 increment value. This can be contributed to the additions of Idaho Milk Products, Scoular, Inc. and Specialty Sales building new facilities in the Southeast Industrial Park. In Area 3 improvements to Commercial Creamery, Franklin Building Supply, and the old “Paul’s market” building had resulted in an increment value increase of $6,107,432 or 54.6%. Area 4 increased $16,120, a 1.2% increase. Area 5 increment value is now $12,951,408, which has accumulated substantially in the two years since it became active. VIII. PROJECT PRIORITIES AND ALLOCATIONS FOR FY 2021 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 $ 1,581,440 Projects to be determined Infrastructure Area 3: Downtown $ 238,867 Projects to be determined Infrastructure Area 4 $ 39,184 Projects to be determined Infrastructure Area 5 $ 378,385 Projects to be determined TOTAL PROJECT COSTS $ 2,237,876 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, 2020 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 ---PAGE BREAK--- Jerome urban renewal agency R:\URA\Reports\2020 Urban Renewal Agency Annual Report-draft.docx 8/8 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 fiscal year. A copy of the Agency’s 2020 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, 2020 for the 2020 fiscal year period ending on September 30, 2020. The Agency filed this report prior to the statutory deadline of December 1, 2020. Public Involvement and Outreach On March 18, 2021 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 2021, 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 2020. 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, 2020. 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 2020-2021 Budget on August 20, 2020. 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 2020 (Audit) • Balance Sheet (FY 2020-2021, Period Ended 12/31/2020) • Revenue/Expense Report (FY 2020-2021, Period Ended 12/31/2020) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2020 URBAN RENEWAL - SE INDUSTRIAL FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 2 ASSETS 09-00-00-1000 CASH IN POOLED CASH FUND 743,388.32 09-00-00-1006 DEBT RESERVE 2008 - LGIP 456,530.75 09-00-00-1007 DEBT SERVICE FUND 2008 - LGIP 3.17 09-00-00-1500 LONG TERM DEBT 972,450.69 TOTAL ASSETS 2,172,372.93 LIABILITIES AND EQUITY LIABILITIES 09-00-00-2001 ACCOUNTS PAYABLE 605.66 09-00-00-2180 BONDS PAYABLE - 2008 USB 972,450.69 TOTAL LIABILITIES 973,056.35 FUND EQUITY 09-00-00-2500 FUND BALANCE 1,461,136.44 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 261,819.86) BALANCE - CURRENT DATE ( 261,819.86) TOTAL FUND EQUITY 1,199,316.58 TOTAL LIABILITIES AND EQUITY 2,172,372.93 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - SE INDUSTRIAL PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 3 SOURCE 00 09-00-00-3001 TAX INCREMENT REV-SE INDUSTRIA .00 .00 1,744,732.00 1,744,732.00 .0 09-00-00-3249 PERSONAL PROP REPLACEMENT 2,120.54 2,120.54 4,241.00 2,120.46 50.0 09-00-00-3373 INTEREST EARNED 581.11 ( 271.41) 23,374.00 23,645.41 ( 1.2) TOTAL SOURCE 00 2,701.65 1,849.13 1,772,347.00 1,770,497.87 .1 TOTAL FUND REVENUE 2,701.65 1,849.13 1,772,347.00 1,770,497.87 .1 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - SE INDUSTRIAL PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 4 DEPARTMENT 00 09-00-00-4131 OFFICE SUPPLIES & POSTAGE .00 .00 18.00 18.00 .0 09-00-00-4132 OPERATING SUPPLIES .00 .00 37.00 37.00 .0 09-00-00-4142 PROFESSIONAL SERVICES 296.31 682.16 10,220.00 9,537.84 6.7 09-00-00-4144 ADVERTISING & PUBLISHING .00 .00 152.00 152.00 .0 09-00-00-4146 INSURANCE & BONDS .00 564.29 564.00 ( .29) 100.1 09-00-00-4148 DUES & SUBSCRIPTIONS .00 1,679.00 602.00 ( 1,077.00) 278.9 09-00-00-4157 INTEREST EXPENSE /DEBT SERVICE .00 .00 894,065.00 894,065.00 .0 09-00-00-4169 MISCELLANEOUS EXPENSE .00 .00 25.00 25.00 .0 09-00-00-4179 ECON. DEV. REIMBURSE PAYMENTS .00 .00 100,000.00 100,000.00 .0 09-00-00-4186 ADMINISTRATION EXPENSE 639.38 743.54 4,140.00 3,396.46 18.0 09-00-00-4187 ECONOMIC DEVELOPMENT SUPPORT .00 .00 9,125.00 9,125.00 .0 09-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 260,000.00 1,581,440.00 1,321,440.00 16.4 TOTAL DEPARTMENT 00 935.69 263,668.99 2,600,388.00 2,336,719.01 10.1 TOTAL FUND EXPENDITURES 935.69 263,668.99 2,600,388.00 2,336,719.01 10.1 NET REVENUE OVER EXPENDITURES 1,765.96 ( 261,819.86) ( 828,041.00) ( 566,221.14) ( 31.6) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2020 URBAN RENEWAL - AREA 3 FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 5 ASSETS 10-00-00-1000 CASH IN POOLED CASH FUND 188,668.33 10-00-00-1500 LONG TERM DEBT 268,392.08 TOTAL ASSETS 457,060.41 LIABILITIES AND EQUITY LIABILITIES 10-00-00-2001 ACCOUNTS PAYABLE 7,150.50 10-00-00-2020 REFUNDABLE DEPOSITS RECEIVED 15,000.00 10-00-00-2181 MISC PAYBL - COMM CREAMERY 268,392.08 TOTAL LIABILITIES 290,542.58 FUND EQUITY 10-00-00-2500 FUND BALANCE 171,494.67 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 4,976.84) BALANCE - CURRENT DATE ( 4,976.84) TOTAL FUND EQUITY 166,517.83 TOTAL LIABILITIES AND EQUITY 457,060.41 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - AREA 3 PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 6 SOURCE 00 10-00-00-3001 TAX INCREMENT REVENUE - DOWNTO 4,039.22 4,479.35 185,952.00 181,472.65 2.4 10-00-00-3249 PERSONAL PROPERTY REPLACEMENT 2,817.70 2,817.70 5,635.00 2,817.30 50.0 10-00-00-3373 INTEREST EARNED 69.51 ( 462.18) 7,442.00 7,904.18 ( 6.2) TOTAL SOURCE 00 6,926.43 6,834.87 199,029.00 192,194.13 3.4 TOTAL FUND REVENUE 6,926.43 6,834.87 199,029.00 192,194.13 3.4 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - AREA 3 PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 7 DEPARTMENT 00 10-00-00-4131 OFFICE SUPPLIES & POSTAGE .00 .00 24.00 24.00 .0 10-00-00-4132 OPERATING SUPPLIES .00 .00 49.00 49.00 .0 10-00-00-4142 PROFESSIONAL SERVICES 6,755.47 7,596.67 13,580.00 5,983.33 55.9 10-00-00-4144 ADVERTISING & PUBLISHING .00 .00 203.00 203.00 .0 10-00-00-4146 INSURANCE & BONDS .00 749.81 750.00 .19 100.0 10-00-00-4148 DUES & SUBSCRIPTIONS .00 2,231.00 800.00 ( 1,431.00) 278.9 10-00-00-4163 OTHER PURCHASED SERVICES .00 456.00 .00 ( 456.00) .0 10-00-00-4169 MISCELLANEOUS EXPENSE .00 .00 25.00 25.00 .0 10-00-00-4179 ECON. DEV. REIMBURSE PAYMENTS .00 .00 67,614.00 67,614.00 .0 10-00-00-4186 ADMINISTRATION EXPENSE 720.59 778.23 5,501.00 4,722.77 14.2 10-00-00-4187 ECONOMIC DEVELOPMENT SUPPORT .00 .00 12,125.00 12,125.00 .0 10-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 .00 238,867.00 238,867.00 .0 TOTAL DEPARTMENT 00 7,476.06 11,811.71 339,538.00 327,726.29 3.5 TOTAL FUND EXPENDITURES 7,476.06 11,811.71 339,538.00 327,726.29 3.5 NET REVENUE OVER EXPENDITURES ( 549.63) ( 4,976.84) ( 140,509.00) ( 135,532.16) ( 3.5) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2020 URBAN RENEWAL - AREA 4 FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 8 ASSETS 11-00-00-1000 CASH IN POOLED CASH FUND 32,441.81 TOTAL ASSETS 32,441.81 LIABILITIES AND EQUITY LIABILITIES 11-00-00-2001 ACCOUNTS PAYABLE 1,022.34 TOTAL LIABILITIES 1,022.34 FUND EQUITY 11-00-00-2500 FUND BALANCE 32,579.01 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 1,159.54) BALANCE - CURRENT DATE ( 1,159.54) TOTAL FUND EQUITY 31,419.47 TOTAL LIABILITIES AND EQUITY 32,441.81 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - AREA 4 PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 9 SOURCE 00 11-00-00-3001 TAX INCREMENT REV-AREA 4 .00 .00 22,176.00 22,176.00 .0 11-00-00-3249 PERSONAL PROP REPLACEMENT 290.48 290.48 581.00 290.52 50.0 11-00-00-3373 INTEREST EARNED 12.06 ( 33.43) 767.00 800.43 ( 4.4) TOTAL SOURCE 00 302.54 257.05 23,524.00 23,266.95 1.1 TOTAL FUND REVENUE 302.54 257.05 23,524.00 23,266.95 1.1 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - AREA 4 PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 10 DEPARTMENT 00 11-00-00-4131 OFFICE SUPPLIES & POSTAGE .00 .00 3.00 3.00 .0 11-00-00-4132 OPERATING SUPPLIES .00 .00 5.00 5.00 .0 11-00-00-4142 PROFESSIONAL SERVICES 986.64 1,046.64 1,400.00 353.36 74.8 11-00-00-4144 ADVERTISING & PUBLISHING .00 .00 21.00 21.00 .0 11-00-00-4146 INSURANCE & BONDS .00 77.30 77.00 ( .30) 100.4 11-00-00-4148 DUES & SUBSCRIPTIONS .00 230.00 82.00 ( 148.00) 280.5 11-00-00-4169 MISCELLANEOUS EXPENSE .00 .00 25.00 25.00 .0 11-00-00-4186 ADMINISTRATION EXPENSE 61.73 62.65 567.00 504.35 11.1 11-00-00-4187 ECONOMIC DEVELOPMENT SUPPORT .00 .00 1,250.00 1,250.00 .0 11-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 .00 39,184.00 39,184.00 .0 TOTAL DEPARTMENT 00 1,048.37 1,416.59 42,614.00 41,197.41 3.3 TOTAL FUND EXPENDITURES 1,048.37 1,416.59 42,614.00 41,197.41 3.3 NET REVENUE OVER EXPENDITURES ( 745.83) ( 1,159.54) ( 19,090.00) ( 17,930.46) ( 6.1) ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2020 URBAN RENEWAL - AREA 5 FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 11 ASSETS 12-00-00-1000 CASH IN POOLED CASH FUND 190,277.09 TOTAL ASSETS 190,277.09 LIABILITIES AND EQUITY LIABILITIES 12-00-00-2001 ACCOUNTS PAYABLE 124.08 TOTAL LIABILITIES 124.08 FUND EQUITY 12-00-00-2500 FUND BALANCE 190,370.56 UNAPPROPRIATED FUND BALANCE: REVENUE OVER EXPENDITURES - YTD ( 217.55) BALANCE - CURRENT DATE ( 217.55) TOTAL FUND EQUITY 190,153.01 TOTAL LIABILITIES AND EQUITY 190,277.09 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL REVENUES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - AREA 5 PERIOD ACTUAL YTD ACTUAL BUDGET UNEARNED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 12 SOURCE 00 12-00-00-3001 TAX INCREMENT AREA 5 .00 .00 226,949.00 226,949.00 .0 12-00-00-3249 PERSONAL PROP REPLACEMENT 580.97 580.97 1,162.00 581.03 50.0 12-00-00-3373 INTEREST EARNED 70.39 147.14 1,534.00 1,386.86 9.6 TOTAL SOURCE 00 651.36 728.11 229,645.00 228,916.89 .3 TOTAL FUND REVENUE 651.36 728.11 229,645.00 228,916.89 .3 ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL EXPENDITURES WITH COMPARISON TO BUDGET FOR THE 3 MONTHS ENDING DECEMBER 31, 2020 URBAN RENEWAL - AREA 5 PERIOD ACTUAL YTD ACTUAL BUDGET UNEXPENDED PCNT FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 13 DEPARTMENT 00 12-00-00-4131 OFFICE SUPPLIES & POSTAGE .00 .00 5.00 5.00 .0 12-00-00-4132 OPERATING SUPPLIES .00 .00 10.00 10.00 .0 12-00-00-4142 PROFESSIONAL SERVICES 52.68 132.68 2,800.00 2,667.32 4.7 12-00-00-4144 ADVERTISING & PUBLISHING .00 .00 42.00 42.00 .0 12-00-00-4146 INSURANCE & BONDS .00 154.60 155.00 .40 99.7 12-00-00-4148 DUES & SUBSCRIPTIONS .00 460.00 165.00 ( 295.00) 278.8 12-00-00-4169 MISCELLANEOUS EXPENSE .00 .00 25.00 25.00 .0 12-00-00-4186 ADMINISTRATION EXPENSE 123.46 198.38 1,134.00 935.62 17.5 12-00-00-4187 ECONOMIC DEVELOPMENT SUPPORT .00 .00 2,500.00 2,500.00 .0 12-00-00-4279 CAPITAL OUTLAY - CONSTRUCTION .00 .00 378,384.00 378,384.00 .0 TOTAL DEPARTMENT 00 176.14 945.66 385,220.00 384,274.34 .3 TOTAL FUND EXPENDITURES 176.14 945.66 385,220.00 384,274.34 .3 NET REVENUE OVER EXPENDITURES 475.22 ( 217.55) ( 155,575.00) ( 155,357.45) ( ---PAGE BREAK--- CITY OF JEROME - URBAN RENEWAL BALANCE SHEET DECEMBER 31, 2020 POOLED CASH FUND FOR ADMINISTRATION USE ONLY 25 % OF THE FISCAL YEAR HAS ELAPSED 02/22/2021 10:20AM PAGE: 14 ASSETS 75-00-00-1000 CASH ALLOCATED TO OTHER FUNDS ( 1,154,775.55) 75-00-00-1001 POOLED CHECKING 25,555.30 75-00-00-1003 INVESTMENTS - STATE TREAS LGIP 1,129,220.25 TOTAL ASSETS .00