VILLAGE OF OXFORD

DOWNTOWN DEVELOPMENT

AUTHORITY (DDA) ANNUAL REPORT

For Fiscal Year Ending June 30, 2015 and 2016

Pursuant of DDA Act 197 of 1975 Section 15 (3)

A) The amount and source of revenue in the account:

6/30/2015 6/30/2016

REVENUE Amount Amount

Property Tax: $ 381,693 $ 389,607

Intergovernmental – Local 5,000 5,129

Interest Earned 32 153

Other Revenue 20,590 11,995

Total Revenue $ 407,315 $ 406,884

B) The amount in any bond reserve account

Loan Proceeds $ – $ –

C) The amount and purpose of expenditures from the account

Community Development $ 149,239 $ 166,064

Debt Service 146,428 145,280

Capital Outlay-net 53,550 –

Total Expenditures 349,217 311,344

Net Change in Fund Balance 58,098 95,540

FUND BALANCE,

beginning of year 103,777 161,875

FUND BALANCE,

end of year $ 161,875 $ 257,415

D) The amount of

principal and interest on any outstanding bonded indebtedness

OUTSTANDING

INDEBTEDNESS $ 1,102,440 $ 1,004,264

E) The initial assessed value of the project area

Real Property SEV $ 4,972,300 $ 4,972,300

Personal Property SEV 578,875 578,875

Total Initial Assessed Value $ 5,551,175 $ 5,551,175

F) The captured assessed value retained by the authority

Captured Real Property $ 13,720,920 $ 14,426,360

Captured Personal Property 1,216,945 1,258,465

Total Captured Value $ 14,937,865 $ 15,684,825

G) The tax increment revenues received

From Village $ 157,498 $ 162,696

From Township (General,

Parks & Rec, Library, Fire) 129,257 115,161

From Intergovernmental-

Local (County, OCC) 73,969 90,781

From Intergovernmental-

State PPT Reimbursement 20,969 20,969

Total Tax Increment Revenues

Received $ 381,693 $ 389,607

H) The number of jobs created as a result of the implementation of the tax increment financing plan

Estimated Jobs Created 20 15

I) Any additional information the governing body or the state tax commission considers necessary

　　Total Net Capital Assets $ 2,750,789 $ 2,321,556

VILLAGE OF OXFORD

DOWNTOWN DEVELOPMENT AUTHORITY (DDA) ANNUAL REPORT

For Fiscal Year Ending June 30, 2015

Pursuant of DDA Act 197 of 1975 Section 15 (3)

Statement of Net Position 6/30/2015 6/30/2016

(full accrual) Amount Amount

ASSETS

Current Assets

　Cash and cash equivalents $ 99,625 $ 199,704

　Taxes receivable, net 16,324 13,614

　Due from other

　　　　governmental units 1,267 2,125

　Prepaid expenses 62,403 61,731

　Total Current Assets 179,619 277,174

Noncurrent Assets

　Capital assets not being

　　depreciated- land 1,395,050 1,395,050

　Capital assets being

　　depreciated, net – parking

　　lots and street lights 1,039,437 926,506 　Total Noncurrent Assets 2,434,487 2,321,556

TOTAL ASSETS 2,614,106 2,598,730

LIABILITIES

Current Liabilities

　Accounts payable 3,620 1,145

　Accrued Interest Payable 21,751 20,244

　Due to Others

　Unearned Revenue 5,000

　Current portion of long-term debt 98,176 105,600

　Current portion of compensated balances

　Total Current Liablities 123,547 131,989

Noncurrent Liabilities

　Long-term debt 1,004,264 898,664

　Noncurrent portion of

　　compensated balances – –

　Total Noncurrent Liabilities 1,004,264 898,664

NET POSITION

　Net investment in

　　capital assets 1,332,047 1,317,292

　Unrestricted Fund Balance 154,248 250,785

TOTAL NET POSITION $ 1,486,295 $ 1,568,077

Working Capital:

– Net Current Assets less

Current Liabilities $ 56,072 $ 145,185