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HomeMy WebLinkAboutSEOPW-CRA-R-02-0130SEOPW/CRA ITEM 7B �P V / CFA RESOLUTION NO. 130 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELCPMENT AGENCY ("CRA") ACKNOWLEDGING RECEIPT, ACCEPTANCE AND APPROVAL OF THE ADJUSTED BUDGET OF THE CRA FOR THE FISCAL YEAR ENDING 2002, AS DETAILED IN ATTACHED EXHIBIT "A", AND AUTHORIZING THE EXECUTIVE DIRECTOR TO TRANSMIT THE ADJUSTED BUDGET TO MIAMI-DADE COUNTY AND THE CITY OF MIAMI. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The Board of Directors acknowledges receipt, acceptance and approval of the adjusted budget of the CPA for the fiscal year ending 2002, as detailed in attached Exhibit "A", and authorizes the Executive Director to transmit the adjusted budget to Miami -Dade County and the City of Miami. SEOPW/cam 2- 130 Section 3. The resolution shall be effective immediately upon its adoption. PASSED AND ADOPTED this 29th day of July 2002. ATTEST: PRISCILLA A. THOMPSON, CITY CLERK APPROVED AS TO FORM AND CORRECTNESS: �DRO VILARELLO, C Y ATTORNEY EOPW/CRA R-02-130: ELF ARTHUR E. TEELE, JR., CHAIRMAN Page 2 of 2 SEOPW/CRA 02 - 130 ITEM 7B RESOLUTION NO. SEOPW/CRA R- 0 2 - 00 A RESOLUTION OF THE BOARD OF DIRECTORS OF THE SOUTHEAST OVERTOWN/PARK WEST (SEOPW) COMMUNITY REDEVELOPMENT AGENCY (CRA) APPROVING AND TRANSMITTING THE ADJUSTED BUDGET OF THE SEOPW COMMUNITY REDEVELOPMENT AGENCY FOR FISCAL YEAR ENDING 2002 AS DETAILED IN EXHIBIT "A" TO THE CITY OF MIAMI COMMISSION AND MIAMI-DADE COUNTY. NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE SEOPW COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA: Section 1. The recitals and findings contained in the Preamble to this Resolution are incorporated herein as if fully set forth in this Section. Section 2. The CRA Executive Director is hereby authorized to transmit the approved Adjusted Budget of the SEOPW Community Redevelopment Agency for fiscal year ending 2002 to the City of Miami Commission and Miami -Dade County. Section 3. This resolution shall be effective immediately upon its adoption. PASSED AND ADOPTED this 291h day of July, 2002. Priscilla A. Thompson Clerk of the Board APPROVED AS TO FORM AND CORRECTNESS: Alejandro Vilarello CRA General Counsel Arthur E. Teele, Jr., Chairman 61-,;vij W / CRA 02- 130 CRA AGENDA July 29, 2002 CITY OF MIAMI, FLORIDA INTER -OFFICE MEMORANDUM To: Chairman Arthur E. Teele, Jr. and Members of the CRA Board From: Annette Lewis Acting Executive Director ITEM 7B Date: July 19, 2002 File: Subject: Audited September 30, 2002 Financial Statements and Manager's Letter received prepared by KPMG References: Enclosures: Resolution RECOMMENDATION It is recommended that the CRA Board of Directors approve the attached resolution and transmit to the City of Miami Commission and Miami -Dade County the Adjusted Budget for fiscal year ending 2002 for the SEOPW Community Redevelopment Agency (SEOPW/CRA) BACKGROUND Adopted Amended 7/29/01 TIF $6,336,960 $4,289,605 General Operating $1,580,388 $2,197,594 Differences: $2.05M and $617K respectfully. Changes in funding balance SEOPW from $1.1 Mto $1.4M & TIF and adjustments for proceeds from CD; $1.0M to $5.40K and the exclusion of proceeds from the Fannie Mae loan of $1.575M. This amount will be appropriated after the loan has been closed. As a result of the final completion of the fiscal year 2000-2001 audit, the beginning balances were not fully determined. KPMG as of July 12, 2002 completed the fieldwork required to issue the audit report. As a result the final beginning balances having been determined, a reallocation of resources are in order. General Source: N/A Account Number: N/A CRA AGET SEOPW / CRA ► =� 130 EXHIBIT A SE®PW/CRA 02- 130 CRA AGENDA July 29, 2002 i CRA FY'O2 Proposed Final Budget GENERAL FUND FY 02 FY '02 (as of 6/29) FY '02 Budget Actual Amended Revenues 055011 070 Rental Properties 90,155 - _ 094 Interest on investments 21,000 11,059 15,000 140 Transfer from Comm. Developme 379,900 - 488,150 193 Contribution from General Fund 278,488 186,326 279,488 244 Carryover Fund Balance 900,000 1,400,000 736 Contibution from Off -Street Pkg. 48,000 23,356 23,356 749 Gain/(loss) on investments - (6,753) (8,400) Total revenues 1,717,543 213,987 2,197,594 Expenditures 550011 001 Salaries - Classfied Perm. FT 110,749 74,691 125,742 006 Earned Time Payoff 1,000 1,001 1,001 O10 Salaries- Unclassified 256,872 186,594 493,210 080 Expense Allowance 18,000 - - 083 Car Allowance 16,000 - _ 100 Social Security Contribution 56,505 19,693 47,426 130 Group Insurance Contrib. 19,533 15,129 20,000 150 Worker's Compensation 290 62 290 160 Unenployment Compensation - 549 - 170 Severance Pay 8,500 3,882 5,000 180 Tuition Reimbursement 5,000 375 2,500 Ucc 10 .1 N.4 CJ Page I of 3 E CRA FY'02 Proposed Final Budget GENERAL FUND FY 02 FY '02 (as of 6129) FY '02 Budget Actual Amended 230 Professional Svc. Appraisal - - 15,000 250 Professional Svc. -Legal 145,100 148,105 180,000 270 Professional Svc. - Other 393,000 392,834 435,573 280 Professional Svc. -Accounting 98,700 4,563 25,000 287 Advertising 63,810 63,673 95,000 289 Special Svc. - miscellaneous(City c - - 35,000 330 Taxes _ _ 340 Other Contractural svc. 191,000 190,856 232,731 410 Travel & Per Diem - Training 3,000 485 3,000 420 Travel & Per Diem - Other 10,690 5,178 7,050 495 Parking Expense 20,500 11,100 20,000 510 Communication Svc. - Telephone 49,000 36,769 46,800 533 Postage 1,500 604 1,000 534 Delivery Services 7,094 5,787 7,094 560 Utility Svc. -Water 9,800 5,970 9,800 610 Rent of Equipment outside 17,000 16,907 30,000 620 Rent Buildings 88,000 70,676 88,000 650 Insurance -Liability 5,700 (1,623) 5,700 670 Repair/Maintenance-outside - _ _ 680 Printing/Binding outside 23,600 20,003 25,000 690 Promotional activities - 36,621 45,000 700 Office Supplies 36,800 (275) 8,500 710 Food - - 4,377 722 Miscellaneous supplies - (42) 1,500 760 Books Publications Memberships 6,300 6,299 8,800 810 Land _ 840 Equipment - New 841 Office Furniture - new - - 2,500 843 Equipment - Lease -purchased - _ _ 901 Personal Services Page') of 3 U V-4 1 903 Materials and supplies 940 Other Grants & Aids xxx Allocation to City Atty. 996 Budget Reserve Total expenditures 11 CRA FY 02 Proposed Final Budget GENERAL FUND FY 02 FY'02 (as of 6/29) Budget _ Actual 14,400 70,000 FY '02 Amended 60,000 35,000 75,000 1,747,443 1,399,063 2,197,594 Page Z of 3 59,949 22,648 C U Iro Revenues 026006 749 Gain/Loss Investments 055006 001 Taxes Real current 070 Rental Properties 094 Interest on investment 264 Property Sale 310 Contribution from Other -County 749 Gain/loss on investments 990 Other -non operating Appropriated Fund Balance Total revenues Expenditures 220 Professional svc. - appriasal 230 Professional svc. - Architectual 240 Professional svc. -Engineering 250 Professional svc. - legal 270 Professional svc. - other 280 Professional svc. - accounting CRA FY'02 Proposed Final Budget SEOPW TIF FY 02 Budget FY '02 (as of 6/29) Actual M FY '02 Amended Cn = (12,532) (16,710) 801,316 801,316 897,741 - 48,337 52,880 87,953 61,089 81,456 - 2,213,500 2,213,500 508,940 548,451 548,451 - 9,271 12,000 - - 287 - - 500,000 1,398,209 3,681,964 4,306,315 1,398,209 3,669,432 4,289,605 5,000 388,618 383,185 868,225 - - 40,000 Page 1 of 2 287 289 340 xxx xxx 602 610 810 840 860 940 945 996 Advertising Special Svc. - miscellaneous Other contractural svcs. Fannie Mae loan application fee Fannie Mae - collateral acct (restricted cash) Interest expense Rent of equipment - outside Land Equipment Construction in progress Other grants and aids Loans Budget Reserve Total expenditures CRA FY'02 Proposed Final Budget SEOPW TIF FY 02 Budget FY '02 (as of 6/29) Actual 125,000 124,069 57,675 57,675 360,856 359,067 425,178 425,178 34,882 34,882 6,000 - 1,398,209 1,384,055 Page 9 of 2 FY '02 Amended 5,000 150,000 6,000 57,675 2,420,000 1,500 600,000 51,000 55,000 30,205 4,289,605 r W Revenues 059320 001 Taxes real current Contribution from gov't - County 310 Appropriated Fund Balance Index 059320 059322 094 Interest on Investments 749 Gain/Loss on investments Total revenues Expenditures 590320 O10 Salaries unclassified 100 Social Security Contrib. 270 Professional svcs.-other 470 Entertainment 860 Construction in progress 905 Intergovernmental charges 940 Grants in aid 996 Budget reserve Total expenditures CRA FY'02 Proposed Final Budget OMNI TIF FY 02 FY'02 (as of 6/29) Budget Actual 964,997 616,977 900,000 2,481,974 957,997 678,663 1,636,660 FY'02 Amended 1,015,786 618,663 900,000 2,534,449 45,259 17,934 23,934 - (3,254) (4,339) 45,259 14,680 19,595 2,527,233 1,651,340 2,554,044 1,050 2,450 269,833 1,338,900 15,000 1,627,233 12,992 961 - 1,000 10,000 2,137 2,450 267,713 805,856 1,430,000 1,430,000 - 80,000 225,739 1,714,803 2,554,045 Page 1 of 1 Revenues 026006 749 Gain/Loss Investments 055006 001 Taxes Real current 070 Rental Properties 094 Interest on investment 264 Property Sale 310 Contribution from Other -County 749 Gain/loss on investments 990 Other -non operating Appropriated Fund Balance Total revenues Expenditures 010 Salaries unclassified 100 Social Security Contrib. 220 Professional svc. - appriasal 230 Professional svc. - Architectual (Planning) 240 Professional svc. -Engineering ro250 Professional svc. - legal 270 Professional svc. - other 280 Professional svc. - accounting 287 Advertising 289 Special Svc. - miscellaneous Ck f'03 PREU...AARY Proposed Final Budget SEOPW TIF FY '02 FY '03 Amended Proposed Additional Description City portion of the tax increment 897,741 1,587,461 Block 56- Vectour site 52,880 - Interest on existing cash reserces 81,456 60,000 Sales of the Park Place leasehold interest 2,213,500 - County poriton of the tax increment 548,451 1,014,952 Gain/loss on investment of cash reserves 12,000 - Other non specified 287 500,000 - 4,306,315 2,662,413 4,306,315 2,662,413 CRA employees & City Unclassified employees Social Security @ 7.65% Appraisal Services 5,000 15,000 Planning &Architectural services - 350,000 Engineering services 100,000 Outside legal services - 185,000 Services not otherwise specified 884,935 100,000 Accounting and Auditing services 40,000 30,000 Required public notices & advertising 5,000 25,000 City Clerk costs (outsourced) - - Page 1 of 2 I ri 340 Other contractural svcs. xxx Fannie Mae loan application fee xxx Fannie Mae - collateral acct (restricted cash) 602 Interest expense 610 Rent of equipment - outside 810 Land 840 Equipment 860 Construction in progress 940 Other grants and aids 945 Loans 996 Budget Reserve Total expenditures Revenue minus expenditures CP. ('03 Proposed Final Budget SEOPW TIF Other non professional services CRA's portion of debt service pmt. For 1990 Bonds Operating lease agreement for equipment Property acquisition expenses New equipment purchses Construction expenses (bricks & mortar) Authorized grants to community buisness/groups etc Authorized loans to community business/groups etc. Budgeted reserves from tax increment proceeds Page 2 of 2 FY'02 Amended 150,000 6,000 57,675 2,420,000 1,500 600,000 51,000 55,000 30,205 4,306,315 0 PRELli,.,NARY FY'03 Proposed 69,930 67,000 500,000 600,000 65,000 35,000 520,483 2,662,413 Ell Revenues 059320 001 Taxes real current Contribution from gov't - County 310 Appropriated Fund Balance Index 059320 059322 094 Interest on Investments 749 Gain/Loss on investments Total revenues Expenditures 590320 010 Salaries unclassified 100 Social Security Contrib. 220 Professional svcs. - Appraisal 230 Professional svcs. -Architectural 240 Professional scvs. -Engineering 250 Professional scvs. -Legal 270 Professional svcs.-other w280 Professional svcs. -Accounting & auditing Q' CRA FY'03 Proposed Final Budget OMNI TIF Additional Description City of Miami portion of tax increment County portion of tax increment Carryover of prior year fund balance CPA employees & City Unclassified employees Social Security @ 7.65% Appraisal Services Planning & Architectural services Engineering services Outside legal services Services not otherwise specified Accounting and Auditing services Page 1 of 2 PRELIMINARY FY '02 FY'03 Amended Proposed 1,015,786 2,014,417 618,663 1,287,952 900,000 - 2,534,449 3,302,369 23,934 30,000 (4,339) (5,400) 19,595 24,600 2,554,044 3,326,969 5,000 250,000 40,000 - 90,000 10,000 31,827 - 20,000 N CRA FY'03 PRELIMINARY Proposed Final Budget OMNI TIF 287 Advertising Required public notices & advertising - 20,000 470 Entertainment Meals/lodging for out of town guests ex. Whitney Art 2,450 5,000 690 Promotional activities Promotional activities related to programs/projects - 25,000 860 Construction in progress Construction expenses (bricks & mortar) 805,856 649,668 Contrib. to Performing Arts Center Bonds per 1996 905 Intergovernmental charges Interlocal Agreement 1,430,000 1,430,000 940 Grants in aid Authorized grants to community buisness/groups etc 80,000 100,000 996 Budget reserve Budgeted reserves from tax increment proceeds 225,739 660,474 Total ex[enditures 2,554,045 3,326,969 Revenue minus expenditures (0) Page 2 of 2 CR. I'02 Proposed Final Budget GENERAL FUND FY '02 FY '03 Amended Proposed Revenues 055011 070 Rental Properties 094 Interest on investments 15,000 8,500 140 Transfer from Comm. Development. 488,150 379,900 193 Contribution from General Fund 279,488 279,488 244 Carryover Fund Balance 1,400,000 - 736 Contibution from Off -Street Pkg. 23,356 - 749 Gain/(loss) on investments (8,400) (1,200) Total revenues 2,197,594 666,688 Expenditures 550011 001 Salaries - Classfied Perm. FT 125,742 126,726 a 006 Earned Time Payoff 1,001 - 010 Salaries- Unclassified 493,210 475,616 a 080 Expense Allowance - 42,000 a ©� 083 Car Allowance - 21,600 a 100 Social Security Contribution 47,426 50,945 a h 130 Group Insurance Contrib. 20,000 30,000 a �n CtJ ® Page 1 of 3 PRELIR._. JARY CR. P02 Proposed Final Budget GENERAL FUND FY '02 FY '03 Amended Proposed 150 Worker's Compensation 290 850 a 160 Unemployment Compensation - 6,023 a 170 Severance Pay 5,000 - 180 Tuition Reimbursement 2,500 3,500 a 230 Professional Svc. Appraisal 15,000 - 250 Professional Svc. -Legal 180,000 - 270 Professional Svc. - Other 435,573 - 280 Professional Svc. -Accounting 25,000 - 287 Advertising 95,000 101,000 b 289 Special Svc. - miscellaneous(City Clerk) 35,000 35,000 b 330 Taxes - - 340 Other Contractural svc. 232,731 - 410 Travel & Per Diem - Training 3,000 10,000 a 420 Travel & Per Diem - Other 7,050 5'000 a 495 Parking Expense 20,000 25,000 a + b 510 Communication Svc. - Telephone 46,800 9,500 b 533 Postage 1,000 1,000 b 534 Delivery Services 7,094 8,000 b 560 Utility Svc. -Water 9,800 - 610 Rent of Equipment outside 30,000 35,000 b 620 Rent Buildings 88,000 95,100 b 650 Insurance -Liability 5,700 20,000 b O cr, 670 Repair/Maintenance-outside - 5,000 b t'' 680 Printing/Binding outside 25,000 30,000 b F 690 Promotional activities 45,000 - E-' C? 700 Office Supplies 8,500 8,500 b O Page 2 of 3 PRELIM... JARY 0 CR, ."02 Proposed Final Budget GENERAL FUND FY'02 FY'03 Amended Proposed 710 Food 4,377 5,000 b 722 Miscellaneous supplies 1,500 1,500 b 760 Books Publications Memberships 8,800 10,000 b 810 Land - - 840 Equipment - New - 841 Office Furniture - new 2,500 843 Equipment - Lease -purchased - - 901 Personal Services - - 903 Materials and supplies 60,000 60,000 b 940 Other Grants & Aids 35,000 - xxx Allocation to City Atty. 75,000 75,000 b 996 Budget Reserve - - Total expenditures 2,197,594 1,296,860 Revenue minus expenditures - (630,172) OMNI TIF 3,302,369 SEOPW TIF 2,602,413 5,904,782 20% of TIF (OMNI & SEOPW) 1,180,956 Actual allocation required 630,172 G O550,784 F Fd Up to 20% of tax increment dollars may be allocated for administrative/operating expenses Salary and benefits related items @ $122,672 b Direct operating (non salary and benefit) line item expenditures associated with the operation/administration of the CPA - @ $507,500 Page 3 of 3 PRELIM. NARY