6/2010-6/2011 Year End Financial Report

SAENA YEAR END FINANCIAL REPORT

TARAS KARKOC

TREASURER

June 2010-June 2011

 

SAENA has four different checking accounts with NE Bank:

  1. Citizen Participation
  2. Neighborhood Revitalization Program
  3. Special Event
  4. Park Fund

 

Citizen Participation:

            This account is funded by the city of Minneapolis.  We are given $2000.00 every calendar year.  We must spend the entire $2000.00 before we are reimbursed.  The funds should be used for personnel costs, newsletter, supplies, training and keeping citizens informed.  This account will no longer be used and has been absorbed into the Community Participation Program.  We opened a new account with NE Community Bank to track the new Community Participation Program.  We received an advance payment of $6600.00 of the $26,450 estimated 2012 allocation.  This account should be used for non-project based expenditures, i.e. personnel, supplies, newsletter etc…  

 

Neighborhood Revitalization Program:

            This account is funded by the city of Minneapolis.  This account was originated in 1999.  SAENA was given Phase I funding in 1999.  This account is to be used for multiple neighborhood projects as well as administrative bills associated with SAENA.  We currently have $234.22 left in the checking account and I have asked for reimbursement in the amount of $4000.00   This account is reimbursed on an as needed basis for projects from Phase I funding.  SAENA has approximately $28,320.12 remaining in Phase I funding.  Phase II is now in the planning stage.

 

Special Events:

            This account was created by a fundraising event.  We raised $967.00 at the event and currently have $874.00 left in the account.  This account should be used for community events. 

 

Park Fund:

            This account was created by leasing a portion of the community commons park to Clear Channel to be used for billboard advertising.   The annual revenue from Clear Channel is $9500.00.   This account should be used for park projects, taxes and some community events.  We currently have $10,304.25 after just receiving our annual payment from Clear Channel.  We will be re-negotiating with Clear Channel between now and 2014 when our contract is up for an increase in our yearly payment. 

 

Projects Completed over the year:

More presence with neighborhood mailings and interactions

Annual Plant Giveaway and neighborhood clean up

Ice Cream Social

Monthly financial reports to the board have been given

Taxes and administrative billing have been paid

990EZ and 1099’s were filed with the IRS

Park Maintenance has been taken care of bi-weekly as well as spring and fall cleanup

Community Energy meeting was held to assist in saving energy and money for residents of SAENA

Budget for 2011-2012 was formulated

Dog Park bids are being finalized

 

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