2020 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.
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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
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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
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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
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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
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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
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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
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Carmel Redevelopment Authority, Hamilton County, Indiana
Deficit Fund Balances - 2020
Enterprise
Name Fund Name
Ending Cash and
Investment Balance
Total deficit fund balances
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Carmel Redevelopment Authority, Hamilton County, Indiana
Transfers - 2020
Fund Amount
Total Transfers Out
Transfers In
(Receipts)
Transfers Out
(Disbursements)
Fund Amount
Total Transfers In
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Carmel Redevelopment Authority, Hamilton County, Indiana
Accounts Payable/Receivable Statement - 2020
Government or Enterprise
Accounts
Payable
Accounts
Receivable
Governmental Activities $0.00 $0.00
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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
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