The URL can be used to link to this page

Home My WebLink AboutExhibitWynwood Business Improvement District "BID" FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2018-19 Proposed Budget�a FY 2018-19 Expenditures Number of Full -Time Positions I I 1 2 1 Difference 3 1 3 1 3 1 0 Actual Any positions flmded in other budgets? NO NO NO Proposed NO NO NO NO FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2017-18 FY 2018-19 FY'l9: Exec Direct makes $117.000. MKT Coordinator and Project Coordinator make $85,000 Actual Actual Actual $ 224,400 Budget Projection Proposed Difference Comments: Revenues BID Assessments $ 676.011 $ 742,080 $ 775,658 $ 764,206 $ 794,375 $ 765,200 +$994 Expected collections are 95% of amount billed as annual assessments Collections Deferred $ - $ 36,710 $ 50,000 $ 45,000 $ 42,184 $ 55,000 +$10,000 Estimated collection of assessments, currently $86K outstanding since BID inception $ 17,226 $ 15,000 +$4,500 hired, additional clean team members also on payroll. thus (5) employees on payroll. Health Insurance $ - $ - FY'l8: Restricted Waiver Income for (59) spaces purchased at $12,000 ea. FY'19: Expecting up Parking Waivers - Restricted $ - $ - $ - $ 54,000 $ 637,200 $ 609,960 +$555,960 to (88) spaces to be purchased at $12,000 each. $ - $ - $ - $ - $0 No funding requested, items broken down below Bookkeeping, Assessment, Audit FY'l8: City of Miami has collected in FY' 18 a total $1,009,773 in Wynwood Public Benefit Trust funds,. As per the ordinance. BID is to receive up to 65% of the funds collected, which $ - $ _ $ 45,000 $ 46,000 $ 48,500 $ 36,000 -$10,000 represents $656,353. Remaining 35% funds totaling $353,420 will go back to the City of Miami Public Benefit Trust Fund $ - $ - $ - $ - $ 656,353 $ - $0 Public Benefit Trust Committee. The City is to utilize the funds on affordable housing with the Annual audit dues are $9,000. Subsequent audit dues are $500. Other Conti actual Services $ 266,000 $ 289,107 $ 36,000 $ 20,000 $ 9,064 boundaries ofthe NRD. LSR has been opened at the City of Miami Legal Department to assist in -$18,000 Office assistant cancelled November 2018. Funds will be used for internships in FY' 19 Meetings, Annual Retreat $ - $ - $ - $ 2,000 creation procedures for this committee. FY' 19: BID is awaiting new projects before estimating $ 2,000 $0 Annual retreat and meeting re-imbursements. Office Supplies, Utilities, for new fiscal vear. City of Miami Contribution $ 369,789 $ - $ 247,500 Costs for office depot, copier, water, postage, supplies, phones. Increase is due to larger office Equipment - $0 ZIKA contribution via City of Miami Mayor's office in FY' 17, not expected FY' 18, FY' 19 Revenue Grand Total $1,045,800 $778,790 $1,073,158 +$3,600 "I $863,206 $2,130,112 $1,430,160 $566,954 Increase in income is due to the creation of the restricted parking trust fund account in FY' 19 Wynwood BID moved offices on March 1 2018, rent increased from $1,966 to $4,832 per month. Office Rent $ 22,000 Revenues Minus Expenditures $136,800 $77,097 $239,688 $0 $1,282,263 $0 $0 Printed: 8/14/20189:21 AM Page 1 of 1 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2017-18 FY 2018-19 Expenditures Difference Comments: Actual Actual Actual Bud et Projection Proposed FY'l9: Exec Direct makes $117.000. MKT Coordinator and Project Coordinator make $85,000 Regular Salary and Wages $ 130,000 $ 153,000 $ 224,400 $ 216,500 $ 169,269 $ 212,000 -$4,500 combined, new totals reflects potential increase for entire staff. FY' 18: Currently E.D. makes $117K, Project Coordinator ($35K) began 1-16-18 & MKT Coordinator ($50K) began 4-30-18. FY'19: FICA estimates for (3) employees, after transition of clean staff. FY' 18 - New staff was FICA Taxes $ - $ - $ - $ 10,500 " $ 17,226 $ 15,000 +$4,500 hired, additional clean team members also on payroll. thus (5) employees on payroll. Health Insurance $ - $ - $ - $ 5,800 $ 5,421 $ 12,500 +$6,700 New health Insurance coverage for two full time employees totaling $1,000 monthly. Professional Services $ 100,000 $ 56,500 $ - $ - $ - $ - $0 No funding requested, items broken down below Bookkeeping, Assessment, Audit Pre $ - $ _ $ 45,000 $ 46,000 $ 48,500 $ 36,000 -$10,000 Bookkeeping, annual audit preparation and assessment collection services $36K yearly Annual Audit $ - $ - $ - $ - $ - $ 10,500 +$10,500 Annual audit dues are $9,000. Subsequent audit dues are $500. Other Conti actual Services $ 266,000 $ 289,107 $ 36,000 $ 20,000 $ 9,064 $ 2,000 -$18,000 Office assistant cancelled November 2018. Funds will be used for internships in FY' 19 Meetings, Annual Retreat $ - $ - $ - $ 2,000 $ 1,912 $ 2,000 $0 Annual retreat and meeting re-imbursements. Office Supplies, Utilities, Costs for office depot, copier, water, postage, supplies, phones. Increase is due to larger office Equipment $ 19,000 " $ 3,246 " $ 3,900 " $ 7,400 " $ 11.554 " $ 11.000 " +$3,600 "I space and staff Wynwood BID moved offices on March 1 2018, rent increased from $1,966 to $4,832 per month. Office Rent $ 22,000 $ 24,658 $ 23,488 $ 58,000 $ 42,758 $ 58,000 $0 We received over 8 quotes fors ace. D&O Insurance, Workman's Comp $ - $ - $ 9,182 $ 12,000 $ 14,919 $ 12,500 +$500 D&O Insurance, and workman's Comp for BID office and Board of Director's Licenses, Fees, Dues $ - $ - $ 500 $ 7,000 $ 7,678 $ 6,000 -$1,000 Required licensing & county, Federal. State dues Advertisement & Marketing Marketing budget increased in FY' 19, due to marketing coordinator hiring and new initiatives Initiatives $ 200,000 $ 92,317 $ 135,000 $ 158,000 $ 172,096 $ 190,000 +$32,000 being sought Rubber mulching to be installed along NW 2nd Ave & N. Miami Ave public right of ways, moved Rubber Mulching Sidewalks $ - $ - $ 20,000 $ - $ _ $ _ $0 to Capital FY' 19 Offduty police services were cancelled by the BI D in April 2018. We had paid almost Police Off Duty Services $ - $ - $ 270,000 $ 158,168 $ 132,792 $ - -$158,168 $ 1,000,000 since project inception Hospitality ambassador program for FY' 19 to help public with directions, wayfinding services, Hospitality Ambassador Program $ - $ - $ - $ 36,780 $ 20,000 $ 68,040 +$31,260 handing out maps Clean Team Services $ - $ - $ 60,000 $ 113.440 $ 159,654 $ 170,660 +$57,220 Increase in due to expansion of service due to 50 block District and no City help cleaning Clean Team Supplies $ - $ - $ 6,000 $ - $ 8,406 $ 11.500 +$11.500 Funding for clean team supplies and uniforms to be provided by Wynwood BID Capital/Restricted Parking Trust New funding source via parking waivers - Restricted projects i.e. transportation, Tri Rail, Traffic. Fund Projects- NEW $ - $ - $ - $ 5,000 $ 20,000 $ 609,960 +$604,960 License Plate Readers, Hospitality ambassadors. Maps. All Other Expenditures $ 172,000 $ 82,865 $ $ $ $ $0 Not applicable in 2018-2019, individual projects broken down in this form Office Furniture - Capital .Expenditure non-restrictive 6,618 $ 6,600 $ 2,500 -$4,118 Office furniture expenses for move on March 1, 2018. Filing cabinets, art work needed 1 Increase in expenditures from previous year is due to the creation of the parking trust fund Expenditure Grand Total $909,000 $701,693 $833,470 $863,206 $847,849 $1,430,160 $566,954 income expected in FY' 19 Revenues Minus Expenditures $136,800 $77,097 $239,688 $0 $1,282,263 $0 $0 Printed: 8/14/20189:21 AM Page 1 of 1