Upload File

vbda monthly cash flow · 2019-10-17 · beginning cash $4,806,535 • significant cash receipts...

  • Home
  • Documents
  • VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant
27
City of Virginia Beach Development Authority VBDA Monthly Cash Flow September 17, 2019 VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 1

Upload: others

Post on 28-Jun-2020

4 views

Category:

Documents


0 download

Report

TRANSCRIPT

Page 1: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

City of Virginia Beach Development Authority

VBDA Monthly Cash Flow September 17, 2019

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 1

Page 2: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Beginning Cash $4,688,238• Significant Cash Receipts

$43,642 of fees from Industrial Revenue Bond recipients

$250,000 of advanced funding for Little League loan

$3,283 of monthly interest income

• Significant Cash Disbursements $11,135 to Kimley Horn for industrial park engineering fees

$26,250 to Landscape Services for FY2020 Corporate Landing maintenance

$1,550 to VBDA Commissioners for 2nd half FY2019 stipend

$515 to Kimley Horn for Corporate Landing stormwater plan

Ending Cash $4,692,790

Operating Account Summary: August 2019

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 2

Page 3: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Beginning Cash $4,806,535• Significant Cash Receipts

$1,031 of monthly interest income

$500,000 transfer of EDIP Appropriations

• Significant Cash Disbursements $10,145 to Kimley Horn for engineering fees related to City initiatives/projects

$1,790 to Kimley Horn for Bio Park Phase 1 engineering fees

Ending Cash $5,295,631

Incentive Account Summary: August 2019

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 3

Page 4: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Ending Cash held by VBDA $5,295,631

PLUS: EDIP and other Receivables $9,967,763

LESS: Payables and Commitments $11,413,877

Ending Available Funding $3,849,517

Incentive Account Summary: August 2019

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 4

Page 5: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Design Review Approval RequestPoint One USA, LLC

PROJECT SUMMARY

City of Virginia Beach Development AuthoritySeptember 17, 2019

1

Page 6: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

DISCLOSURES POINT ONE USA PRESIDENT:

Robert Brush

POINT ONE USA CFO:

Michelle Glasscock

ARCHITECT/ENGINEERS:

Lemole Architects

REAL ESTATE BROKER:

Robert (Bobby) Beasley, Jr.

CONSTRUCTION CONTRACTOR:

CL Pincus Jr. & Co.

BANKING INSTITUTION:

Towne Bank

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 2

Page 7: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

ABOUT THE COMPANY

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT3

Point One USA provides advanced training solutions for military and law enforcement professionals in four divisions:

• Training Courses,

• Training Products

• Exercise Devices, Scenarios and Support

• Concept Development and Systems Integration

Headquartered: Virginia Beach, VA

West Coast location: San Diego, CA

Crusader Circle property will be used for manufacturing, warehousing, and packaging to support product sales of

training aids/kits that are purchased and used by Law Enforcement and Military personnel in Virginia, the U.S. and

international partners

Navy approval for use

Old outstanding EDIP grant award will be closed out

Page 8: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

LOCATION: 2809 Crusader Circle 1537 Air Rail Avenue

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 4

Page 9: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

SITE PLAN: 2809 Crusader Circle

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 5

Page 10: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

SITE PLAN: 2809 Crusader Circle (Front Rendering)

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 6

Page 11: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

SITE PLAN: 2809 Crusader Circle (Rear Rendering)

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 7

Page 12: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Questions?

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT 8

Page 13: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

PROJECT SUMMARY

2809 Crusader Circle

What? Relocation from 11,800 sf (Taylor Farm Rd) to 20,000

sf (Crusader Circle) Storage, warehouse/distribution Easement compliance approved by Navy

INVESTMENT (within 36 months)

JOBS

LOCATIONCAPITAL INVESTMENT AMOUNT

REAL ESTATE $1,250,000

MACHINERY AND TOOLS $50,000

FF&E $200,000

TOTAL: $1,500,000

JOBS AMOUNT

Current FTEs

New FTEs

36

15Average wage of new jobs (excluding benefits) $65,000

VIRGINIA BEACH DEPARTMENT OF ECONOMIC DEVELOPMENT9

RECOMMENDATION EDIP Part “A” Grant: $45,000 Target industry sector:

Manufacturing and Defense

Page 14: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Temporary PlacemakingVBDA Update 9/17/19

Page 15: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Former Hotel Site Conditions

Page 16: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

February 2019 Proposal

Temporary Placemaking - Norfolk

Temporary Park - Norway

Page 17: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Former Conditions

Page 18: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Current Conditions

Page 19: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

“World Below The Brine” by Piece of Cake Productions

Public Art Additions

Page 20: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Public Art Additions

“Prismatic Play” by Aimee Bruce

Page 21: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Former Slab Resurfacing Concept

40’x80’

Page 22: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Slab Resurfacing

Page 23: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Multi-Court Concept

Page 24: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Multi-Court Signage

Page 25: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Multi-Court

Multi-Court lines will be marked by October 12, 2019

Page 26: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Estimated Budget

Page 27: VBDA Monthly Cash Flow · 2019-10-17 · Beginning Cash $4,806,535 • Significant Cash Receipts $1,031 of monthly interest income $500,000 transfer of EDIP Appropriations • Significant

Budget Update

Accomplished Items Expense

8x8 Wood Landscape Timber $2,793

Topsoil & Hauling $2,075

Turf-Sod $1,434

Slab Resurfacing $4,990

Shrubs and Groundcovers $1,072

Outstanding Items

Multi-Court Marking $5,809

Signage $1,000

Address Inside of Wall $4,000

Total $23,173


D57 Process Transaction Mapping Analysis · Cash Management Cash Management is a daily, monthly, and yearly set of processes used to manage Fund cash. Cash Management is the source

Note 1: Summary of Significant Accounting Policies · Web viewThe definition of cash and cash-equivalents used in the statement of cash flows for proprietary funds. The District’s

BlueFish-eMarketing.com · INFOTECH 2Ø13 3 S 23 CASH PROMO 2,799 MONTHLY 18 SAVE 20% MONTHLY COURTS CASH PROMO 14,999 SAVE 3,000 products are valid Offers Courts Stand at from in

ATM Cash Management 101 - nmgprod.s3. · PDF fileATM Cash Management 101 Optimizing their ATM cash management provides FIs and IADs with significant opportunities to generate

Chapter 7 Cash and Receivables ACCT-30301. 1. Cash Few problems ◦ easy valuation and classification ◦ requires significant controls (Appendix 7A) Petty

Available Our Monthly and sharedinterest Quarterly ... · 10/12/2016  · Current surveys show less ... ut more cash in your monthly budget. Lower your current monthly payments with

A Computer Spreadsheet for Projecting Monthly Cash Flows

Predicting Monthly Cash with Confidence and Accuracy

Cash Flow Management · cash leaving your businesses through accounts payable, monthly expenses, employee salaries, etc. •Negative cash flow: This occurs when your outflow of cash

The jury's out the most significant number the cricket monthly _ espn cricinfo

Dash for Cash: Monthly Market Impact of Institutional ...€¦ · Dash for Cash: Monthly Market Impact of Institutional Liquidity Needs This version: 2 February 2019 First version:

Fpu Monthly Cash Flow Plan Forms Copy

Fat Prophets Defensive - landing.praemium.com · Fat Prophets Defensive + Monthly Factsheet as at 31 January 2018 Cash or Cash Equivalents Cash 22.5% Asset Class Holdings Weightings

Open Session Monthly Transport Indicators › media › 966901 › Item-111-Monthly... · same month last year. ... stage bus cash fares in 2014 prices over time. In July 2014 cash

1 Cash Budget Used to determine monthly needs and surpluses for cash during the planning period Examines timing of cash inflows and outflows i.e

Class0 Discounting Slides - University of Rochesterrkaniel.simon.rochester.edu/.../Class0_Discounting_Slides_Handout.pdf · 12 12 23 Valuing Monthly Cash Flows Example Monthly EPR

Oklahoma Monthly Climate Summary APRIL 2015climate.ok.gov/summaries/monthly/2015/MCS_April_2015.pdf · Oklahoma Monthly Climate Summary 1 Mired in significant drought for much of

Linamar Sales & Earnings Growth Driving Significant Cash

BFF - DD3 standard monthly cash flow instructions

PAYMENTS Monthly Average Balance Rs. 40,000/- NMMAB ... · PDF fileCLS Page 1 PAYMENTS Monthly Average Balance Rs. 40,000/-NMMAB Charges Rs.650/- per month Cash payments Cash withdrawal

Chapter 9 Cash and Receivables ACCT-30301. 1. Cash Few problems ◦ easy valuation and classification ◦ requires significant controls (Appendix 7A) Petty

MONTHLY BUDGET STATEMENT MAY 2019 · MONTHLY BUDGET STATEMENT MAY 2019 . 2 | P a g e Contents ... Cash flow statement – A statement showing when actual cash will be received and

Monthly Expenditure Report€¦ · Monthly Expenditure Report Monthly Cash Reconciliation Beginning Balance Total Spent Remaining Balance Outstanding Commitments Net Available $20490.93

Cash flow template - GRDC · Cash flow template How to complete your cash flow is outlined in section 5.1.1, Cash flow, Module 2, of GRDC’s ‘Farming the Business’. Planned monthly

Monthly GAAP Bulletin - Grant Thornton India...Monthly GAAP Bulletin 1 Contents Dear Reader, Grant Thornton presents ‘Monthly GAAP Bulletin’, a bulletin that summarises significant

Managing your cash pressures - PwC Managing your cash pr… · Managing your cash pressures As the COVID-19 global response evolves, organisations are experiencing significant operational,

Monthly Cash Flow Plan

MAY 2020 INVESTOR UPDATE · Cash. Bank Credit Facility. Senior Notes. Significant liquidity US$ millions - Cash, credit facility and senior notes (Mar 31, 2020) (2) CASH $101 Solid

OFFSITE CONSTRUCTION€¦ · Faster Construction Up to 60% Significant Large Improved cash-Flow Significant Small Large Reduced Snagging & Defects Up to 80% Small Significant . 5

INSIGHTS A monthly digest of significant tax-

Significant progress - Heidelberg Pharma GmbHheidelberg-pharma.com/pdf/Berichte/20100223_WILEX_GB_2009_E.pdf · Cash flow statement Cash flow from operating activities (18,638) (22,830)

ShelbyNext | Financials: Build a Monthly Cash Flow Statementisccon.shelbysystems.com/.../SNF...Cash-FlowF220.pdfThe Cash Flow Statement for a nonprofit organization reports the ministry’s

Redesigning Cash Management with Automation: RFP through ... Cash Managemen… · 16/09/2015  · •No significant investment in cash management platform 10+ years •System outdated:

EAVE *000 HITACHI MONTHLY CASH PROMO _ Rs 421 Rs 9,999 TNT MONTHLY 527Rs 12,499 MONTHLY CASH PROMO 628 14,899 '321 TNT CASH PROMO 7,999 "SANSUI MONrHLY PROMO 548 12,999 TOSHIBA

Generate Monthly Cash Flow with Selling Stock Options