5.0. HRSR 01-12-1993 -`/ _\(
1kiver FROM: LORI JOHNSON FINANCE DIRECTOR A6)
DATE: JANUARY 5, 1993
SUBJECT: FINANCIAL UPDATE
The HRA received $30,289 .82 in revenues in 1992 and had no
expenditures bringing the HRA's December 31, 1992, cash
balance to $93,091 .80. This balance excludes December interest
receivable of approximately $200. 00 .
The adopted 1992 Budget estimated tax revenues to be $29,500;
this will be very close to actual Tax and HACA collections.
On the expenditure side, $50,000 was budgeted for redevelopment
activities and $41,500 was to be reserved for future projects.
As was previously stated, the HRA did not incur any expenses in
1992 .
41,
720 Dodge Avenue N.W., Elk River, Minnesota 55330 (612) 441-7420
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ELK RIVER HOUSING AND REDEVELOPMENT AUTHORITY
STATEMENT OF CASH ACTIVITY
For Period Ending December 31, 1992
Cash Balance December 31, 1988 $11, 141 . 13
Cash Balance December 31, 1989 26,482 .29
Cash Balance December 31, 1990 33,345.66
Cash Balance December 31, 1991 62,801. 98
Cash Balance December 31, 1992* 93,091.80
1991 Revenues:
Tax Settlements $23,066 .64
State Aids 4,770.00
Interest Income* 2,453. 18
Total Revenue 30,289 .82
1991 Expenditures :
Total Expenditures -0-
• December 31, 1992 Cash Balance* $93,091 . 80
*Excluding December Interest
Taxes Receivable are estimated at $2,600 . 00
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