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Louisiana Land Trust Board Meeting Financial Budget Presentation For the Fiscal Year Ending June 30, 2011 1.

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Presentation on theme: "Louisiana Land Trust Board Meeting Financial Budget Presentation For the Fiscal Year Ending June 30, 2011 1."— Presentation transcript:

1 Louisiana Land Trust Board Meeting Financial Budget Presentation For the Fiscal Year Ending June 30,

2 Louisiana Land Trust Project Allocations ($000) 2 $221 Million – Allocated to LLT as stated by LRA Executive Director $195 Million – Allocated to LLT in current CEA Does not include any expenses incurred after June 30, 2012 including long term monitoring Fiscal Year EndingExpensedAllocated $ 221,064, Jun-07 $ 608,894 $ 220,455, Jun-08 $ 15,278,696 $ 205,176, Jun-09$ 38,793,928$ 166,382, Jun-10 Estimate $ 75,486,115 $ 90,896, Jun-11 Budget $ 53,645,904 $ 37,250, Jun-12 Budget $ 11,517,947 $ 25,732,516 Miscellaneous Items FEMA Demos in St Bernard$ 4,764,944$ 20,967,572 Slab Demos in St. Bernard$ 10,000,000$ 10,967,572

3 Louisiana Land Trust Cost by Category ($000) 3 For the Fiscal Year ending 6/30/07 Actual 6/30/08 Actual 6/30/09 Actual 6/30/10 Estimate 6/30/11 Budget 6/30/12 BudgetTotal Administration 2 1,2061,9152,6842,7222,15910,688 Closing ,4852,5233,7787,820 Demolition - -10,960 32,82133,283-77,064 Insurance ,052 Maintenance - 10,97222,50219,46113,6644,95571,554 Miscellaneous ,23517,765 (3,000)31,000 Professional Services ,568 Security - 2,8272,7191, ,351 Totals609 15,27938,79475,48671,4118,518210,097 Miscellaneous cost include: $21,000,000 for FEMA demolitions of LLT properties in St. Bernard $10,000,000 for slab removal of Non-LLT properties in St. Bernard $3,000,000 for Admin fee reimbursements to St. Bernard and NORA which will be made in fiscal year 2011 and later recovered in fiscal year 2012

4 Budget Assumptions Property Dispositions Property Count for the Fiscal Year ending 6/30/07 Actual 6/30/08 Actual 6/30/09 Actual 6/30/10 Estimate 6/30/11 Budget 6/30/12 Budget Beginning05218,1869,7719,7695,857 Transfer in5217,6651, Transfer out ,9125,857 Ending521 8,1869,7719,7695, June 30, 2010 Estimate based on actual data through April 15, 2010 Ending inventory as of June 30, 2010 assumes o 287 additions not yet received o 222 dispositions by June 30 th Dispositions only include Closed and Completed

5 Budget Assumptions Demolitions 5 Demolitions for the Fiscal Year ending6/30/086/30/096/30/106/30/116/30/12Total Structures - 6 1,0482,200 -3,254 Slabs ,3991,775 -5,221 STRUCTURES Structures represent an increase of 537properties over 2010 budget assumptions $7,000 cost per unit $5,250 additional for abatement which is applied to 80% of structures $9,602 average cost per structure March 31, 2011 completion date for all structures SLABS Slabs represent an increase of 682 properties over 2010 budget assumptions $4,150 cost per unit December 31, 2010 completion date for all slabs

6 Demo Management – $3,091 per unit – 8,475 Units (3,254 Structures and 5,221 Slabs) Permitting – $ per structure in New Orleans – $25.00 additional if in NCDC Utility Disconnects – $ per disconnect if volume is greater than 300 units/month – $ per disconnect if volume is less than 300/month LDEQ – MOU with LDEQ sets hourly rates for resources – Cost ran higher than originally expected due to Storm Retention/EPA concerns Structures – 3,254 Total Structures at an average cost of $7,000 each – 1,054 to be demolished by June 30, 2010 and 2,200 by March 31, 2011 – RACM Demolitions 1,760 of homes will require RACM demolition in 2011 $5,250/unit based on average of 1,500 sq ft at $3.50/sq ft Slabs – 5,221 Total Slabs at a cost of $4,150 each – 3,446 to be demolished by June 30, 2010 and 1,775 by December 31, Demolition Assumptions ($000) For the Fiscal Year Ending 6/30/096/30/106/30/11Total Demo Management6,71515,6723,80626,193 Permitting Utility Disconnects LDEQ01, ,078 Structures4,18510,09021,12035,395 Slabs164,9077,36712,290 FEMA Demolitions016,2354,76521,000 Non-LLT Slabs0010,000 Totals10,96049,05648,048108,064


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