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Home My WebLink About2020 Annual Financial Report - Carmel Redevelopment AuthorityAnnual Financial Report Indiana State Board of Accounts 2020 CARMEL REDEVELOPMENT AUTHORITY Hamilton County Submitted on 11/18/2021 2:28:00 PM 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: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Annual Financial Report - 2020 Cash & Investments Combined Statement Local Fund Number Local Fund Name Beg Cash & Inv Bal Jan. 1, 2020 Receipts Disbursement End Cash & Inv Bal Dec. 31, 2020 Governmental Activities 900002 2016 Project Fund $12,565,689.61 $6,763,864.01 $16,908,583.96 $2,420,969.66 900003 2017 Project Fund $24,973,509.29 $310,299.61 $9,091,338.74 $16,192,470.16 900004 Redevelopment Authority Debt Service Fund $26,448,654.48 $44,374,938.99 $49,753,817.12 $21,069,776.35 900005 Redevelopment Authority Capital Projects Fund $1,876,633.99 $5,885.62 $1,071,050.91 $811,468.70 900006 2017A Fund $1,483.15 $5.13 $0.00 $1,488.28 900007 2018A Fund $1,293,369.87 $612,003.45 $1,477,048.92 $428,324.40 900008 2019A Fund $16,625.94 $57.12 $16,682.80 $0.26 GRAND TOTAL $67,175,966.33 $52,067,053.93 $78,318,522.45 $40,924,497.81 Page 2Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Detailed Receipts - 2020 Governmental Activities 2016 Project Fund Earnings on Investments and Deposits $51,379.92 Other Receipts/NA - Other Cash Receipts $6,712,484.09 Total Other Receipts $6,763,864.01 Total 2016 Project Fund $6,763,864.01 2017 Project Fund Earnings on Investments and Deposits $172,708.02 Other Receipts/NA - Other Cash Receipts $137,591.59 Total Other Receipts $310,299.61 Total 2017 Project Fund $310,299.61 Redevelopment Authority Debt Service Fund Earnings on Investments and Deposits $30,929.29 Other Receipts/NA - Miscellaneous Receipts $8,508.68 Other Receipts/NA - Other Cash Receipts $44,335,501.02 Total Other Receipts $44,374,938.99 Total Redevelopment Authority Debt Service Fund $44,374,938.99 Redevelopment Authority Capital Projects Fund Earnings on Investments and Deposits $5,885.62 Total Other Receipts $5,885.62 Total Redevelopment Authority Capital Projects Fund $5,885.62 2017A Fund Earnings on Investments and Deposits $5.13 Total Other Receipts $5.13 Total 2017A Fund $5.13 2018A Fund Earnings on Investments and Deposits $4,002.45 Other Receipts/NA - Other Cash Receipts $608,001.00 Total Other Receipts $612,003.45 Total 2018A Fund $612,003.45 2019A Fund Earnings on Investments and Deposits $57.12 Total Other Receipts $57.12 Total 2019A Fund $57.12 Total Governmental Activities $52,067,053.93 Page 3Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Disbursements by Fund - 2020 Governmental Activities 2016 Project Fund Professional Services $3,678.20 Total Services and Charges $3,678.20 Construction $16,904,905.76 Total Capital Outlays $16,904,905.76 Total 2016 Project Fund $16,908,583.96 2017 Project Fund Professional Services $7,747.57 Total Services and Charges $7,747.57 Construction $9,083,591.17 Total Capital Outlays $9,083,591.17 Total 2017 Project Fund $9,091,338.74 Redevelopment Authority Debt Service Fund Professional Services $2,575.00 Other Services and Charges $12,900.00 Total Services and Charges $15,475.00 Payments on Bonds and Other Debt Principal $23,433,279.00 Payments on Bonds and Other Debt Interest $25,793,063.12 Total Debt service - principal and interest $49,226,342.12 Other Disbursements $512,000.00 Total Other Disbursements $512,000.00 Total Redevelopment Authority Debt Service Fund $49,753,817.12 Redevelopment Authority Capital Projects Fund Professional Services $3,750.00 Total Services and Charges $3,750.00 Page 4Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Governmental Activities Redevelopment Authority Capital Projects Fund Construction $1,058,791.60 Total Capital Outlays $1,058,791.60 Other Disbursements $8,509.31 Total Other Disbursements $8,509.31 Total Redevelopment Authority Capital Projects Fund $1,071,050.91 2018A Fund Professional Services $130.62 Other Services and Charges $1,000.00 Total Services and Charges $1,130.62 Payments on Bonds and Other Debt Principal $45,000.00 Payments on Bonds and Other Debt Interest $513,159.78 Total Debt service - principal and interest $558,159.78 Construction $15,589.83 Total Capital Outlays $15,589.83 Other Disbursements $902,168.69 Total Other Disbursements $902,168.69 Total 2018A Fund $1,477,048.92 2019A Fund Construction $16,682.80 Total Capital Outlays $16,682.80 Total 2019A Fund $16,682.80 Total Governmental Activities $78,318,522.45 Page 5Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Debt Class Description or Purpose Beginning Principal Balance as of Jan. 1, 2020 Additions Reductions Ending Principal Balance as of Dec. 31, 2020 Principal and Interest Due in 2021 Governmental Activities Revenue Bonds 2005 Performing Arts Center Redevelopment Authority $28,826,148.00 $0.00 $1,684,439.00 $27,141,709.00 $5,965,000.00 Revenue Bonds City of Carmel (Indiana) Redevelopment Commission Lease Rental Revenue Refunding Bonds of 2011 - Refi 2004 Road Bond West Clay $10,055,000.00 $0.00 $2,355,000.00 $7,700,000.00 $2,809,625.00 Revenue Bonds 2012A Lease Rental Multipurpose Redevelopment Authority $115,900,000.00 $0.00 $115,900,000.00 $0.00 $0.00 Revenue Bonds 2012B Lease Rental Multipurpose Redevelopment Authority $36,715,000.00 $0.00 $7,085,000.00 $29,630,000.00 $8,345,994.00 Revenue Bonds 2014 City of Carmel (IN) Redevelopment Authority COIT Lease Rental Revenue Bonds Series 2014B $35,030,000.00 $0.00 $3,960,000.00 $31,070,000.00 $5,642,125.00 Revenue Bonds 2014 Carmel Redevelopment Authority Performing Arts Center refund CIB's $54,740,000.00 $0.00 $54,740,000.00 $0.00 $0.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016A (Public Infrastructure) $135,075,000.00 $0.00 $3,092,000.00 $131,983,000.00 $9,530,130.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016B (Economic Development Projects) $9,487,000.00 $0.00 $457,000.00 $9,030,000.00 $934,860.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Refunding Bonds, Series 2016C (Energy Center) $13,354,000.00 $0.00 $612,000.00 $12,742,000.00 $1,231,820.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2016D (Midtown Phase 1A Projects) $10,530,000.00 $0.00 $375,000.00 $10,155,000.00 $713,290.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017A (Midtown South Project) $7,405,000.00 $0.00 $40,000.00 $7,365,000.00 $504,186.53 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-1 $32,165,000.00 $0.00 $355,000.00 $31,810,000.00 $1,697,812.50 Carmel Redevelopment Authority, Hamilton County, Indiana Debt Statement - 2020 Page 6Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Governmental Activities Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-2 $23,700,000.00 $0.00 $305,000.00 $23,395,000.00 $1,066,080.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-1 $660,000.00 $0.00 $80,000.00 $580,000.00 $100,997.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-2 $15,800,000.00 $0.00 $910,000.00 $14,890,000.00 $1,374,929.00 Revenue Bonds City of Carmel Redevelopment Authority LIT Lease Rental Refunding Bonds, Series 2017 Private Placement $20,735,000.00 $0.00 $1,215,000.00 $19,520,000.00 $1,643,592.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-1 (LIT/SBT) $9,380,000.00 $0.00 $1,100,000.00 $8,280,000.00 $1,455,101.50 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-2 (TIF/SBT) $7,720,000.00 $0.00 $385,000.00 $7,335,000.00 $720,068.00 Revenue Bonds Taxable Lease Rental Revenue Refunding Bonds, Series 2020A $0.00 $125,195,000.0 0 $0.00 $125,195,000.00 $2,390,065.00 Revenue Bonds Taxable Lease Rental Revenue Refunding Bonds, Series 2020B $0.00 $62,270,000.00 $335,000.00 $61,935,000.00 $1,764,892.00 SubTotal $567,277,148.00 $187,465,000.0 0 $194,985,439.00 $559,756,709.00 $47,890,567.53 GRAND TOTAL $567,277,148.00 $187,465,000.0 0 $194,985,439.00 $559,756,709.00 $47,890,567.53 Page 7Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Deficit Fund Balances - 2020 Enterprise Name Fund Name Ending Cash and Investment Balance Total deficit fund balances Page 8Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Transfers - 2020 Fund Amount Total Transfers Out Transfers In (Receipts) Transfers Out (Disbursements) Fund Amount Total Transfers In Page 9Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Accounts Payable/Receivable Statement - 2020 Government or Enterprise Accounts Payable Accounts Receivable Governmental Activities $0.00 $0.00 Page 10Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Pensions - 2020 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 11Printed: 1/30/2023 10:57:45 AMIndiana Gateway Report gateway.ifionline.org