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Home My WebLink About2019 Annual Financial Report - Carmel Redevelopment AuthorityAnnual Financial Report Indiana State Board of Accounts 2019 CARMEL REDEVELOPMENT AUTHORITY Hamilton County Submitted on 9/14/2020 9:45:00 AM Per IC 5-11-1-4 every municipality and local government is required to provide electronically and in a manner prescribed by the state examiner, financial reports for the fiscal year not later than sixty days after the close of the fiscal year. Completion and submission of the Gateway Annual Financial Report (AFR) will fulfill this requirement. This document comprises all of the report outputs generated by Gateway, based on the information entered by the government unit and submitted by the government official as stipulated in state law. Page 1Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Annual Financial Report - 2019 Cash & Investments Combined Statement Local Fund Number Local Fund Name Beg Cash & Inv Bal Jan 1, 2019Receipts Disbursement End Cash & Inv Bal Dec 31, 2019 Governmental Activities 900002 2016 Project Fund $41,742,029.03 $5,818,830.87 $34,995,170.29 $12,565,689.61 900003 2017 Project Fund $41,032,276.37 $1,250,121.03 $17,308,888.11 $24,973,509.29 900004 Redevelopment Authority Debt Service Fund $22,601,008.53 $49,115,044.69 $45,267,398.74 $26,448,654.48 900005 Redevelopment Authority Capital Projects Fund $3,654,251.55 $62,792.01 $1,840,409.57 $1,876,633.99 900006 2017A Fund $864,004.12 $30,745.41 $893,266.38 $1,483.15 900007 2018A Fund $3,745,294.56 $63,690.91 $2,515,615.60 $1,293,369.87 900008 2019A Fund $0.00 $18,725,293.09 $18,708,667.15 $16,625.94 GRAND TOTAL $113,638,864.16 $75,066,518.01 $121,529,415.84 $67,175,966.33 Page 2Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Detailed Receipts - 2019 Page 3Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Governmental Activities 2016 Project Fund Earnings on Investments and Deposits $930,115.07 Transfers In - Transferred from Another Fund $500,000.00 Other Receipts/N/A - Other Cash Receipts $4,388,715.80 Total Other Receipts $5,818,830.87 Total 2016 Project Fund $5,818,830.87 2017 Project Fund Earnings on Investments and Deposits $1,250,121.03 Total Other Receipts $1,250,121.03 Total 2017 Project Fund $1,250,121.03 Redevelopment Authority Debt Service Fund Earnings on Investments and Deposits $98,346.57 Other Receipts/N/A - Other Cash Receipts $49,016,698.12 Total Other Receipts $49,115,044.69 Total Redevelopment Authority Debt Service Fund $49,115,044.69 Redevelopment Authority Capital Projects Fund Earnings on Investments and Deposits $57,012.74 Refunds and Reimbursements $5,779.27 Total Other Receipts $62,792.01 Total Redevelopment Authority Capital Projects Fund $62,792.01 2017A Fund Earnings on Investments and Deposits $8,747.91 Other Receipts/N/A - Other Cash Receipts $21,997.50 Total Other Receipts $30,745.41 Total 2017A Fund $30,745.41 2018A Fund Earnings on Investments and Deposits $29,946.53 Other Receipts/N/A - Other Cash Receipts $33,744.38 Total Other Receipts $63,690.91 Total 2018A Fund $63,690.91 2019A Fund Earnings on Investments and Deposits $30,293.09 Other Receipts/N/A - Other Cash Receipts $18,695,000.00 Total Other Receipts $18,725,293.09 Total 2019A Fund $18,725,293.09 Total Governmental Activities $75,066,518.01 Page 4Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Disbursements by Fund - 2019 Governmental Activities 2016 Project Fund Professional Services $21,487.85 Total Services and Charges $21,487.85 Construction $34,973,682.44 Total Capital Outlays $34,973,682.44 Total 2016 Project Fund $34,995,170.29 2017 Project Fund Professional Services $21,428.91 Total Services and Charges $21,428.91 Construction $17,287,459.20 Total Capital Outlays $17,287,459.20 Total 2017 Project Fund $17,308,888.11 Redevelopment Authority Debt Service Fund Professional Services $20,943.75 Total Services and Charges $20,943.75 Payments on Bonds and Other Debt Principal $20,639,491.00 Payments on Bonds and Other Debt Interest $24,606,963.99 Total Debt service - principal and interest $45,246,454.99 Total Redevelopment Authority Debt Service Fund $45,267,398.74 Redevelopment Authority Capital Projects Fund Construction $1,739,421.76 Total Capital Outlays $1,739,421.76 Transfer Out - Transferred To Another Fund $100,000.00 Page 5Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Governmental Activities Redevelopment Authority Capital Projects Fund Other Disbursements $987.81 Total Other Disbursements $100,987.81 Total Redevelopment Authority Capital Projects Fund $1,840,409.57 2017A Fund Construction $493,266.38 Total Capital Outlays $493,266.38 Transfer Out - Transferred To Another Fund $400,000.00 Total Other Disbursements $400,000.00 Total 2017A Fund $893,266.38 2018A Fund Professional Services $1,018.21 Total Services and Charges $1,018.21 Payments on Bonds and Other Debt Interest $513,159.78 Total Debt service - principal and interest $513,159.78 Construction $2,001,437.61 Total Capital Outlays $2,001,437.61 Total 2018A Fund $2,515,615.60 2019A Fund Professional Services $164,300.00 Total Services and Charges $164,300.00 Construction $18,544,367.15 Total Capital Outlays $18,544,367.15 Total 2019A Fund $18,708,667.15 Total Governmental Activities $121,529,415.84 Page 6Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Debt Class Description or Purpose Beginning Principal Balance as of Jan. 1, 2019 Additions Reductions Ending Principal Balance as of Dec. 31, 2019 Principal and Interest Due in 2020 Governmental Activities Revenue Bonds 2005 Performing Arts Center Redevelopment Authority $31,697,254.00 $1,273,826.00 $4,144,932.00 $28,826,148.00 $5,715,000.00 Revenue Bonds City of Carmel (Indiana) Redevelopment Commission Lease Rental Revenue Refunding Bonds of 2011 - Refi 2004 Road Bond West Clay $12,315,000.00 $0.00 $2,260,000.00 $10,055,000.00 $2,828,625.00 Revenue Bonds 2012A Lease Rental Multipurpose Redevelopment Authority $115,900,000.00 $0.00 $0.00 $115,900,000.00 $4,392,581.00 Revenue Bonds 2012B Lease Rental Multipurpose Redevelopment Authority $43,365,000.00 $0.00 $6,650,000.00 $36,715,000.00 $7,998,256.00 Revenue Bonds 2014 City of Carmel (IN) Redevelopment Authority COIT Lease Rental Revenue Bonds Series 2014B $38,800,000.00 $0.00 $3,770,000.00 $35,030,000.00 $5,647,625.00 Revenue Bonds 2014 Carmel Redevelopment Authority Performing Arts Center refund CIB's $55,065,000.00 $0.00 $325,000.00 $54,740,000.00 $2,494,606.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016A (Public Infrastructure) $137,983,000.00 $0.00 $2,908,000.00 $135,075,000.00 $9,488,413.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016B (Economic Development Projects) $9,862,000.00 $0.00 $375,000.00 $9,487,000.00 $859,583.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Refunding Bonds, Series 2016C (Energy Center) $13,940,000.00 $0.00 $586,000.00 $13,354,000.00 $1,232,028.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2016D (Midtown Phase 1A Projects) $10,890,000.00 $0.00 $360,000.00 $10,530,000.00 $714,761.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017A (Midtown South Project) $7,405,000.00 $0.00 $0.00 $7,405,000.00 $291,125.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-1 $32,495,000.00 $0.00 $330,000.00 $32,165,000.00 $1,700,563.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-2 $24,000,000.00 $0.00 $300,000.00 $23,700,000.00 $1,061,000.00 Carmel Redevelopment Authority, Hamilton County, Indiana Debt Statement - 2019 Page 7Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Governmental Activities Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-1 $740,000.00 $0.00 $80,000.00 $660,000.00 $97,912.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-2 $16,300,000.00 $0.00 $500,000.00 $15,800,000.00 $1,408,987.00 Revenue Bonds City of Carmel Redevelopment Authority LIT Lease Rental Refunding Bonds, Series 2017 Private Placement $21,965,000.00 $0.00 $1,230,000.00 $20,735,000.00 $1,697,148.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-1 (LIT/SBT) $0.00 $10,525,000.00 $1,145,000.00 $9,380,000.00 $1,458,836.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-2 (TIF/SBT) $0.00 $8,170,000.00 $450,000.00 $7,720,000.00 $715,629.00 SubTotal $572,722,254.00 $19,968,826.00 $25,413,932.00 $567,277,148.00 $49,802,678.00 GRAND TOTAL $572,722,254.00 $19,968,826.00 $25,413,932.00 $567,277,148.00 $49,802,678.00 Page 8Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Deficit Fund Balance Report - 2019 Enterprise Name Fund Name Ending Cash and Investment Balance Total deficit fund balances Page 9Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Lessor Description or Purpose Annual Lease Payment Due Lease Begining Date Lease Ending Date GRAND TOTAL Carmel Redevelopment Authority, Hamilton County, Indiana Leases 2019 Page 10Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Other Post-Employment Benefits (OPEB) 2019 Page 11Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Transfers - 2019 Fund Amount Redevelopment Authority Capital Projects Fund $100,000.00 2017A Fund $400,000.00 Total Transfers Out $500,000.00 Transfers In (Receipts) Transfers Out (Disbursements) Fund Amount 2016 Project Fund $500,000.00 Total Transfers In $500,000.00 Page 12Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Transfer Schedule Report - 2019 Fund Transfer From - Total - 500,000 500,000 Total 500,000$$500,000 Fund Transfer To For each transfer that did not occur on a routine basis or was inconsistent with the activities of the fund making the transfer that is identified in the above schedule, provide a general description of the principal purpose of the interfund transfer. One general description can be provided even if multiple funds are impacted or more than one transfer occurred. (An example of a non-routine transfer: a transfer to a wastewater enterprise fund for the local match of a federal pollution control grant, an example of a transfer that is an inconsistent activity of the fund: a transfer from a capital projects fund to the general fund.) Both the Midtown Phase 1A Bonds (Redevelopment Authority Capital Projects Fund) and the Midtown South Bonds (2017A Fund) were to contribute a total of $500,000 towards the construction of the Midtown Plaza. The 2016 Bonds (2016 Project Fund) paid for the entire plaza before the contributions from the Midtown Bonds were made. So, instead they each reimbursed the 2016 Project Fund for a total of $500,000. Page 13Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Capital Assets 2019 Government/ Enterprise Asset Type Beginning Balance Additions Reductions Ending Balance Governmental Activities Land ---- Infrastructure ---- Building ---- Improvement ---- Machinery ---- Construction ---- Books ---- Page 14Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Accounts Payable/Receivable Statement - 2019 Government or Enterprise Accounts Payable Accounts Receivable Governmental Activities $0.00 $0.00 Page 15Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Financial Assistance to Non Governmental Entities - 2019 Name Federal Tax ID Street Address City/State County Operating Officer Name Phone Description Amount Type Page 16Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Pensions - 2019 1. Please indicate if your unit offers any of these pension plans to your Employees. Check all that apply. YES NO Public Employees Retirement Fund X Teachers Retirement Fund X Police Pension Fund - First Class Cities X 1925 Police Pension Fund X 1937 Firefighter's Pension Fund X 1977 Police and Firefighter's Pension Fund X 2. Does your unit have any other pension plans where the employer makes contributions to the plan or funds any part of the benefits?X Page 17Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Form 9 Fund Names 2019 Fund #Fund Name Page 18Printed: 9/22/2020 10:46:29 AMIndiana Gateway Report gateway.ifionline.org