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Home My WebLink About2021 Annual Financial Report - Carmel Redevelopment AuthorityAnnual Financial Report Indiana State Board of Accounts 2021 CARMEL REDEVELOPMENT AUTHORITY Hamilton County Submitted on 2/24/2022 8:24:00 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: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Annual Financial Report - 2021 Cash & Investments Combined Statement Local Fund Number Local Fund Name Beg Cash & Inv Bal Jan. 1, 2021 Receipts Disbursement End Cash & Inv Bal Dec. 31, 2021 Governmental Activities 900002 2016 Project Fund $2,420,969.66 $4,406,490.42 $6,283,137.88 $544,322.20 900003 2017 Project Fund $16,192,470.16 $14,545.62 $8,609,922.58 $7,597,093.20 900004 Redevelopment Authority Debt Service Fund $21,069,776.35 $48,906,327.58 $50,980,223.67 $18,995,880.26 900005 Redevelopment Authority Capital Projects Fund $811,468.70 $141.89 $313,932.84 $497,677.75 900006 2017A Fund $1,488.28 $0.14 $1,488.42 $0.00 900007 2018A Fund $428,324.40 $879,029.10 $842,627.71 $464,725.79 900008 2019A Fund $0.26 $0.00 $0.26 $0.00 900009 2021A Fund $0.00 $58,601,186.27 $3,114,479.52 $55,486,706.75 GRAND TOTAL $40,924,497.81 $112,807,721.02 $70,145,812.88 $83,586,405.95 Page 2Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Detailed Receipts - 2021 Governmental Activities 2016 Project Fund Earnings on Investments and Deposits $527.60 Transfers In - Transferred from Another Fund $4,009,274.73 Other Receipts/NA - Other Cash Receipts $396,688.09 Total Other Receipts $4,406,490.42 Total 2016 Project Fund $4,406,490.42 2017 Project Fund Earnings on Investments and Deposits $14,545.62 Total Other Receipts $14,545.62 Total 2017 Project Fund $14,545.62 Redevelopment Authority Debt Service Fund Earnings on Investments and Deposits $590.89 Transfers In - Transferred from Another Fund $1,488.42 Other Receipts/NA - Adjustment $6.00 Other Receipts/NA - Miscellaneous Receipts $6,476,451.64 Other Receipts/NA - Other Cash Receipts $42,427,790.63 Total Other Receipts $48,906,327.58 Total Redevelopment Authority Debt Service Fund $48,906,327.58 Redevelopment Authority Capital Projects Fund Earnings on Investments and Deposits $141.89 Total Other Receipts $141.89 Total Redevelopment Authority Capital Projects Fund $141.89 2017A Fund Earnings on Investments and Deposits $0.14 Total Other Receipts $0.14 Total 2017A Fund $0.14 2018A Fund Earnings on Investments and Deposits $29.10 Other Receipts/NA - Other Cash Receipt $879,000.00 Total Other Receipts $879,029.10 Total 2018A Fund $879,029.10 2021A Fund Earnings on Investments and Deposits $1,186.27 Proceeds from Borrowings other than Tax Anticipation Warrants $58,600,000.00 Total Other Receipts $58,601,186.27 Total 2021A Fund $58,601,186.27 Total Governmental Activities $112,807,721.02 Page 3Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Disbursements by Fund - 2021 Governmental Activities 2016 Project Fund Professional Services $4,620.00 Total Services and Charges $4,620.00 Construction $6,278,517.88 Total Capital Outlays $6,278,517.88 Total 2016 Project Fund $6,283,137.88 2017 Project Fund Professional Services $2,208.53 Total Services and Charges $2,208.53 Construction $4,598,439.32 Total Capital Outlays $4,598,439.32 Transfer Out - Transferred To Another Fund $4,009,274.73 Total Other Disbursements $4,009,274.73 Total 2017 Project Fund $8,609,922.58 Redevelopment Authority Debt Service Fund Professional Services $19,475.00 Total Services and Charges $19,475.00 Payments on Bonds and Other Debt Principal $24,768,439.00 Payments on Bonds and Other Debt Interest $26,190,959.67 Total Debt service - principal and interest $50,959,398.67 Other Disbursements $1,350.00 Total Other Disbursements $1,350.00 Total Redevelopment Authority Debt Service Fund $50,980,223.67 Page 4Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Governmental Activities Redevelopment Authority Capital Projects Fund Construction $313,932.84 Total Capital Outlays $313,932.84 Total Redevelopment Authority Capital Projects Fund $313,932.84 2017A Fund Transfer Out - Transferred To Another Fund $1,488.42 Total Other Disbursements $1,488.42 Total 2017A Fund $1,488.42 2018A Fund Professional Services $1,000.00 Total Services and Charges $1,000.00 Payments on Bonds and Other Debt Principal $225,000.00 Payments on Bonds and Other Debt Interest $511,439.20 Total Debt service - principal and interest $736,439.20 Construction $105,188.51 Total Capital Outlays $105,188.51 Total 2018A Fund $842,627.71 2019A Fund Other Disbursements $0.26 Total Other Disbursements $0.26 Total 2019A Fund $0.26 2021A Fund Construction $3,114,479.52 Total Capital Outlays $3,114,479.52 Total 2021A Fund $3,114,479.52 Total Governmental Activities $70,145,812.88 Carmel Redevelopment Authority, Hamilton County, Indiana Fund Type Schedule 2021 Fund Type Local Fund Standard Fund Grant Related 3 - Debt Service 900004 - Redevelopment Authority Debt Service Fund Redevelopment Authority Debt Service Fund N Page 5Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Fund Type Local Fund Standard Fund Grant Related 4 - Capital Projects 900005 - Redevelopment Authority Capital Projects Fund Redevelopment Authority Capital Projects Fund N 11 - Custodial 900008 - 2019A Fund 2019A Fund N 11 - Custodial 900002 - 2016 Project Fund 2016 Project Fund N 11 - Custodial 900003 - 2017 Project Fund 2017 Project Fund N 11 - Custodial 900006 - 2017A Fund 2017A Fund N 11 - Custodial 900007 - 2018A Fund 2018A Fund N 11 - Custodial 900009 - 2021A Fund 2021A Fund N Page 6Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Debt Statement - 2021 Beginning Principal Balance as of Jan. 1, 2021 Additions Reductions Ending Principal Balance as of Dec. 31, 2021 Principal Due in 2022 Governmental Activities Long Term Debt Revenue Bonds 2005 Performing Arts Center Redevelopment Authority $25,451,361.00 $0.00 $3,915,907.00 $21,535,454.00 $6,260,000.00 Revenue Bonds City of Carmel (Indiana) Redevelopment Commission Lease Rental Revenue Refunding Bonds of 2011 - Refi 2004 Road Bond West Clay $7,700,000.00 $0.00 $2,455,000.00 $5,245,000.00 $2,795,500.00 Revenue Bonds 2012B Lease Rental Multipurpose Redevelopment Authority $29,630,000.00 $0.00 $7,600,000.00 $22,030,000.00 $8,762,891.00 Revenue Bonds 2014 City of Carmel (IN) Redevelopment Authority COIT Lease Rental Revenue Bonds Series 2014B $31,070,000.00 $0.00 $4,155,000.00 $26,915,000.00 $5,646,750.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016A (Public Infrastructure) $131,983,000.00 $0.00 $3,231,000.00 $128,752,000.00 $9,569,760.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016B (Economic Development Projects) $9,030,000.00 $0.00 $547,000.00 $8,483,000.00 $927,440.00 Revenue Bonds Taxable Lease Rental Revenue Refunding Bonds, Series 2020B $61,935,000.00 $0.00 $820,000.00 $61,115,000.00 $1,771,379.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-2 $14,890,000.00 $0.00 $895,000.00 $13,995,000.00 $1,251,712.00 Revenue Bonds City of Carmel Redevelopment Authority LIT Lease Rental Refunding Bonds, Series 2017 Private Placement $19,520,000.00 $0.00 $1,190,000.00 $18,330,000.00 $1,590,685.00 Revenue Bonds Ad Valorem Property Tax Lease Rental Bond, Series 2021 $0.00 $54,225,000.00 $0.00 $54,225,000.00 $325,000.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-1 (LIT/SBT) $8,280,000.00 $0.00 $1,140,000.00 $7,140,000.00 $1,454,792.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-2 (TIF/SBT) $7,335,000.00 $0.00 $405,000.00 $6,930,000.00 $713,809.00 Page 7Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Beginning Principal Balance as of Jan. 1, 2021 Additions Reductions Ending Principal Balance as of Dec. 31, 2021 Principal Due in 2022 Governmental Activities Long Term Debt Revenue Bonds Taxable Lease Rental Revenue Refunding Bonds, Series 2020A $125,195,000.00 $0.00 $0.00 $125,195,000.00 $2,390,065.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Refunding Bonds, Series 2016C (Energy Center) $12,742,000.00 $0.00 $631,000.00 $12,111,000.00 $1,234,590.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2016D (Midtown Phase 1A Projects) $10,155,000.00 $0.00 $380,000.00 $9,775,000.00 $716,054.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017A (Midtown South Project) $7,365,000.00 $0.00 $255,000.00 $7,110,000.00 $503,428.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-1 $31,810,000.00 $0.00 $370,000.00 $31,440,000.00 $1,703,938.00 Revenue Bonds City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-2 $23,395,000.00 $0.00 $320,000.00 $23,075,000.00 $1,065,760.00 Revenue Bonds City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-1 $580,000.00 $0.00 $85,000.00 $495,000.00 $103,775.00 Governmental Activities Long Term Debt Total $558,066,361.00 $54,225,000.00 $28,394,907.00 $583,896,454.00 $48,787,328.00 GRAND TOTAL $558,066,361.00 $54,225,000.00 $28,394,907.00 $583,896,454.00 Page 8Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Deficit Fund Balances - 2021 Enterprise Name Fund Name Ending Cash and Investment Balance Total deficit fund balances Page 9Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Transfers - 2021 Fund Amount 2017 Project Fund $4,009,274.73 2017A Fund $1,488.42 Total Transfers Out $4,010,763.15 Transfers In (Receipts) Transfers Out (Disbursements) Fund Amount 2016 Project Fund $4,009,274.73 Redevelopment Authority Debt Service Fund $1,488.42 Total Transfers In $4,010,763.15 Page 10Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Transfer Schedule Report - 2021 Fund Transfer From 900002 - 2016 Project Fund 900004 - Redevelopment Authority Debt Service Fund Total 900003 - 2017 Project Fund 4,009,275 -4,009,275 900006 - 2017A Fund -1,488 1,488 Total 4,009,275$1,488$$4,010,763 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.) Routine transfer for the material amount and account closure for the immaterial amount. Page 11Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Capital Assets 2021 Government or Enterprise Beginning Balance as of January 1, 2021 Additions Reductions Ending Balance as of December 31, 2021 Governmental Activities - Non- Depreciable Assets Land $61,466,424.07 --$61,466,424.07 Construction in Progress $153,964,897.67 $2,171,037.97 $89,351,454.70 $66,784,480.94 Other Non-Depreciable Assets $2,443,600.99 $294,676.99 -$2,738,277.98 Total $217,874,922.73 $2,465,714.96 $89,351,454.70 $130,989,182.99 Governmental Activities - Depreciable Assets Infrastructure $67,177,683.31 $82,386,411.03 -$149,564,094.34 Buildings $177,623,710.11 $9,661,211.39 -$187,284,921.50 Improvements Other Than Buildings $10,518,547.93 $618,592.00 -$11,137,139.93 Machinery, Equipment, and Vehicles $19,434,505.23 $346,618.33 -$19,781,123.56 Books and Other ---- Total $274,754,446.58 $93,012,832.75 -$367,767,279.33 Governmental Activities - Accumulated Depreciation Assets Infrastructure $4,526,199.23 $3,056,816.70 -$7,583,015.93 Buildings $26,990,997.19 $3,714,486.59 -$30,705,483.78 Improvements Other Than Buildings $2,604,726.70 $502,441.05 -$3,107,167.75 Machinery, Equipment, and Vehicles $9,006,173.16 $980,124.28 -$9,986,297.44 Books and Other ---- Total $43,128,096.28 $8,253,868.62 -$51,381,964.90 Page 12Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Accounts Payable/Receivable Statement - 2021 Government or Enterprise Accounts Payable Accounts Receivable Governmental Activities $0.00 $0.00 Page 13Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org Carmel Redevelopment Authority, Hamilton County, Indiana Pensions - 2021 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 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 14Printed: 1/30/2023 10:58:30 AMIndiana Gateway Report gateway.ifionline.org