2023 Annual Financial Report - Carmel Redevelopment Authority
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(AFR) will fulfill this requirement.
2023
Annual Financial Report
of the fiscal year.
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Hamilton County
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Submitted on 2/26/2024 8:57:00 AM
Indiana State Board of Accounts
CARMEL REDEVELOPMENT AUTHORITY
every municipality and local government is required to provide electronically and in a manner
Completion and submission of the Gateway
IC 5-11-1-4
prescribed by the state examiner, financial reports for the fiscal year not later than sixty days after the close
Per
Annual Financial Report 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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$0.00
End Cash
& Inv Bal
$164,845.78$475,814.13
Dec. 31, 2023
$1,285,985.33
$19,570,399.56$29,295,838.79$64,647,963.84
$115,440,847.43
$78,719.30
$880,679.22
$1,114,696.81$2,184,195.10$6,294,094.80
$72,310,075.19
$47,055,477.00$14,702,212.96
Disbursement
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$543.33
$857,144.95$107,574.86$886,949.10
$3,118,600.23$8,199,415.91
$60,613,614.66
$47,443,386.28
Receipts
3134
Beg Cash
& Inv Bal
$78,175.97
Jan. 1, 2023
$422,397.64$469,544.25
$3,362,605.57
$19,182,490.28$40,879,451.52$62,742,642.73
$127,137,307.96
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GRAND TOTAL
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Local Fund Name2016 Project Fund2017 Project FundRedevelopment Authority Debt Service FundRedevelopment Authority Capital Projects Fund2018A Project Fund2021A Project Fund2022A Project
Fund
Local Fund Number900002900003900004900005900007900009900010
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Governmental Activities
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$543.33
$543.33$543.33
$2,737.48
$12,267.10
$844,877.85$107,574.86$105,686.28$884,211.62
$857,144.95$857,144.95$107,574.86$107,574.86$886,949.10$886,949.10
$1,266,684.29$1,851,915.94$2,359,752.16$5,839,663.75
$3,118,600.23$3,118,600.23$8,199,415.91$8,199,415.91
$47,337,700.00
$47,443,386.28$47,443,386.28$60,613,614.66
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, Indiana
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2023
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Earnings on Investments and DepositsOther Receipts/NA - Other Cash ReceiptsEarnings on Investments and DepositsEarnings on Investments and DepositsOther Receipts/NA - Other Cash ReceiptsEarnings
on Investments and DepositsEarnings on Investments and DepositsOther Receipts/NA - Other Cash ReceiptsEarnings on Investments and DepositsOther Receipts/NA - Other Cash ReceiptsEarnings
on Investments and DepositsOther Receipts/NA - Other Cash Receipts
Detailed Receipts
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Carmel Redevelopment Authority, Hamilton County
Other ReceiptsOther ReceiptsOther ReceiptsOther ReceiptsOther ReceiptsOther ReceiptsOther Receipts
2016 Project Fund2017 Project FundRedevelopment Authority Debt Redevelopment Authority Capital 2018A Project Fund2021A Project Fund2022A Project Fund
2016 Project Fund Total Total 2017 Project Fund Total Total Redevelopment Authority Debt Service Fund Total Total Service Fund Redevelopment Authority Capital Projects Fund
Total Total Projects Fund 2018A Project Fund Total Total 2021A Project Fund Total Total 2022A Project Fund Total Total
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Governmental Activities
Governmental Activities Total
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$650.00$650.00
$2,142.50
$2,142.50
$12,800.00$70,425.18
$12,800.00$70,425.18
$140,969.55
$140,969.55
$1,114,046.81$2,182,052.60
$1,114,046.81$1,114,696.81$2,182,052.60$2,184,195.10
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$27,095,488.00$19,806,219.45
$46,901,707.45$47,055,477.00
3134
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Services and ChargesCapital OutlaysServices and ChargesCapital OutlaysServices and ChargesDebt service - principal and interestOther DisbursementsCapital Outlays
Professional Services Total Construction Total Professional Services Total Construction Total Professional Services Total Payments on Bonds and Other Debt PrincipalPayments
on Bonds and Other Debt Interest Total Other Disbursements Total Construction Total
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2016 Project Fund2017 Project FundRedevelopment Authority Debt Service Fund
2016 Project Fund Total 2017 Project Fund Total Redevelopment Authority Debt Service Fund Total Redevelopment Authority Capital Projects Fund
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Governmental Activities
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$8,294.12$1,000.00$7,211.62
$8,294.12$1,000.00$7,211.62
$11,708.93$16,179.74
$78,719.30$11,708.93$16,179.74
$380,000.00$492,467.60$523,651.02$950,000.00
$872,467.60$880,679.22$523,651.02
$1,545,833.33
$2,495,833.33
$14,166,853.01
$14,166,853.01$14,702,212.96
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Other DisbursementsServices and ChargesDebt service - principal and interestOther DisbursementsServices and ChargesCapital OutlaysOther DisbursementsServices and ChargesDebt service
- principal and interest
Other Disbursements Total Professional Services Total Payments on Bonds and Other Debt PrincipalPayments on Bonds and Other Debt Interest Total Other Disbursements Total
Professional Services Total Construction Total Other Disbursements Total Professional Services Total Payments on Bonds and Other Debt PrincipalPayments on Bonds and
Other Debt Interest Total
Redevelopment Authority Capital Projects Fund2018A Project Fund2021A Project Fund
Redevelopment Authority Capital Projects Fund Total 2018A Project Fund Total 2021A Project Fund Total 2022A Project Fund
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Governmental Activities
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$132,516.17
$132,516.17
$3,649,565.56
$3,649,565.56$6,294,094.80
$72,310,075.19
, Indiana
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Standard Fund 900004 - Redevelopment Authority Debt Service Fund900005 - Redevelopment Authority Capital Projects Fund900002 - 2016 Project Fund900003 - 2017 Project Fund900007 - 2018A
Fund900008 - 2021A Fund900009 - 2022A Fund
2023
Capital OutlaysOther Disbursements
Construction Total Other Disbursements Total
Fund Type Schedule
Local Fund 900004 - Redevelopment Authority Debt Service Fund900005 - Redevelopment Authority Capital Projects Fund900002 - 2016 Project Fund900003 - 2017 Project Fund900007 - 2018A
Project Fund900009 - 2021A Project Fund900010 - 2022A Project Fund
2022A Project Fund
Carmel Redevelopment Authority, Hamilton County
2022A Project Fund Total
Fund Type 3 - Debt Service4 - Capital Projects11 - Custodial11 - Custodial11 - Custodial11 - Custodial11 - Custodial
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Governmental Activities
Governmental Activities Total
$0.00
8
$972,000.00$855,000.00
Due in 2024
$2,060,042.00$6,070,000.00$4,820,000.00$3,932,000.00$1,555,000.00$2,175,000.00$1,815,000.00$2,290,000.00$1,285,000.00
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Principal
$0.00
$6,070,000.00$7,062,000.00$4,720,000.00
$10,574,571.00$17,950,000.00$59,455,000.00$60,300,000.00$12,320,000.00$15,315,000.00$54,225,000.00
$121,679,000.00
Dec. 31, 2023
Balance as of
Ending Principal
$0.00
$858,000.00$830,000.00$885,000.00
$6,422,057.00$2,680,000.00$7,750,000.00$4,595,000.00$3,663,000.00$2,150,000.00$1,850,000.00$1,235,000.00
Reductions
$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
, Indiana
Additions
2023
$2,680,000.00$7,920,000.00$5,955,000.00
$16,996,628.00$13,820,000.00$22,545,000.00$60,285,000.00$62,450,000.00$13,205,000.00$17,165,000.00$54,225,000.00
Jan. 1, 2023
$125,342,000.00
Balance as of
Beginning Principal
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Debt Statement -
2005 Performing Arts Center Redevelopment AuthorityCity of Carmel (Indiana) Redevelopment Commission Lease Rental Revenue Refunding Bonds of 2011 - Refi 2004 Road Bond West Clay2012B
Lease Rental Multipurpose Redevelopment Authority2014 City of Carmel (IN) Redevelopment Authority COIT Lease Rental Revenue Bonds Series 2014BCity of Carmel Redevelopment Authority
Lease Rental Bonds, Series 2016A (Public Infrastructure)City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2016B (Economic Development Projects)Taxable Lease Rental Revenue
Refunding Bonds, Series 2020BCity of Carmel Redevelopment Authority Ad Valorem Property Tax Lease Rental Bonds, Series 2022City of Carmel Redevelopment Authority Taxable Lease Rental
Bonds, Series 2017C-2City of Carmel Redevelopment Authority LIT Lease Rental Refunding Bonds, Series 2017 Private PlacementAd Valorem Property Tax Lease Rental Bond, Series 2021City
of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-1 (LIT/SBT)
Carmel Redevelopment Authority, Hamilton County
Revenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue Bonds
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Governmental Activities Long Term Debt
9
$90,000.00
$450,000.00$719,000.00$405,000.00$275,000.00$455,000.00$360,000.00
Due in 2024
$3,185,000.00
$33,768,042.00
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Principal
$315,000.00
$6,080,000.00$8,990,000.00$6,585,000.00
$10,765,000.00$30,630,000.00$22,400,000.00
$125,195,000.00
$580,630,571.00$580,630,571.00
Dec. 31, 2023
Balance as of
Ending Principal
$0.00
$90,000.00
$435,000.00$685,000.00$395,000.00$265,000.00$415,000.00$345,000.00
Reductions
$35,548,057.00$35,548,057.00
$0.00$0.00$0.00$0.00$0.00$0.00$0.00$0.00
$0.00$0.00
Additions
$405,000.00
$6,515,000.00$9,385,000.00$6,850,000.00
$11,450,000.00$31,045,000.00$22,745,000.00
Jan. 1, 2023
$125,195,000.00
$616,178,628.00$616,178,628.00
Balance as of
Beginning Principal
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City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2019A-2 (TIF/SBT)Taxable Lease Rental Revenue Refunding Bonds, Series 2020ACity of Carmel Redevelopment Authority Lease
Rental Refunding Bonds, Series 2016C (Energy Center)City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2016D (Midtown Phase 1A Projects)City of Carmel Redevelopment
Authority Taxable Lease Rental Bonds, Series 2017A (Midtown South Project)City of Carmel Redevelopment Authority Lease Rental Bonds, Series 2017B-1City of Carmel Redevelopment Authority
Lease Rental Bonds, Series 2017B-2City of Carmel Redevelopment Authority Taxable Lease Rental Bonds, Series 2017C-1
Revenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue BondsRevenue Bonds
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Governmental Activities Long Term Debt Governmental Activities Long Term Debt TotalGRAND TOTAL
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Ending Cash and
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Investment Balance
, Indiana
2023
Deficit Fund Balances -
Fund Name Total deficit fund balances
Carmel Redevelopment Authority, Hamilton County
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Enterprise Name
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Amount
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(Receipts)
Transfers In
3134
Fund
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Total Transfers In
Amount
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Transfers Out
(Disbursements)
Fund
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Total Transfers Out
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$8,750,025.06$2,738,277.98$6,584,983.71
$55,663,887.48$30,912,808.91$19,603,425.56$16,593,163.66$38,237,369.39$11,829,101.98
$67,152,190.52$73,244,618.74
$191,980,377.12$187,284,921.49
$429,781,533.08
December 31, 2023
Ending Balance as of
----------
Reductions
$177,698.00$149,698.00
$177,698.00$149,698.00
$4,519,870.59
$4,519,870.59
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Additions
, Indiana$976,283.81
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$2,259,428.56$4,282,734.28$3,765,942.82$1,519,502.01
$2,259,428.56
$10,544,462.92
--
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2023
January 1,
2023
$6,490,596.50$2,738,277.98$5,065,481.70
$60,183,758.07$30,912,808.91$19,781,123.56$12,310,429.38$34,471,426.57$11,002,516.17
$69,412,632.55$62,849,853.82
as of
$191,980,377.12$187,284,921.49
$429,959,231.08
Beginning Balance
Capital Assets
LandConstruction in ProgressOther Non-Depreciable AssetsTotalInfrastructureBuildingsImprovements Other Than BuildingsMachinery, Equipment, and VehiclesBooks and OtherTotalInfrastructureBuildingsImpro
vements Other Than BuildingsMachinery, Equipment, and VehiclesBooks and OtherTotal
Carmel Redevelopment Authority, Hamilton County
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Government or EnterpriseGovernmental Activities - Non-Depreciable AssetsGovernmental Activities - Depreciable AssetsGovernmental Activities - Accumulated Depreciation Assets
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YES
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1. Please indicate if your unit offers any of these pension plans to your Employees. Check all that apply.Public Employees Retirement FundTeachers Retirement Fund1925 Police Pension
Fund1937 Firefighter's Pension Fund1977 Police and Firefighter's Pension Fund 2. Does your unit have any other pension plans where the employer makes contributions to the plan or funds
any part of the benefits?