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Home My WebLink AboutCRA-R-20-0011 Exhibit A-SUBEXHIBIT A THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. FY 2021 FY 2020 BUDGET OMNI TAX INCREMENT,FUND BUDGET PROPOSED ADOPTED VARIANCE BUDGET BUDGET REVENUES CITYOF MIAMI -TAX INCREMENT $18,726,124 $16,975,009 $1,751,115 MIAMIDADECOUNTY - TAX INCREMENT (ORIGINALBOUNDARIES) $11,401,481 $10,465,562 $935,919 CITYOF MIAMI-TAX INCREMENT(2009 ADDITION EXPANDED BOUNDARIES) $650,015 $531,687 $118,328 MIAMIDADECOUNTY -TAX INCREMENT (2009ADDITION EXPANDED BOUNDARIES) $395,021 $327,756 $67,265 Total TIF Revenues $31,172,641 2020 FUND BALANCE LOAN SERIES 2018A and 2018 B (Funds held by Bank United) $11,767,372 $11,755,752 $11,620 TRANSFER FROM MIDTOWN CRA (Adminlstratlon) $98,467 $88,837 $9,630 RENT INCOME $801000 $1D1,481 -$21,481 2020 CHILDREN TRUST CONTRIBUTION $1,246,906 $1,132,001 $114,905 2020 ESTIMATED FUND BALANCE (It includes the $4,552,500 - Reimbursement from Loan $18,491,610 $12,667,306 $5,824,304 Series 2018A1 TQTAG REVfNU .. 962,8S6,996 954,045,391 $8,811,605 (tEf)EVELOP1VlEN1: 2CPl:NDITURES. ACCOUNTING AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES - OTHER $325,920 $603,384 -$277,464 OTHER CONTRACTUAL SERVICES $300,000' $638,692 .$338,692 INTERFUND TRANSFER (Debt Service) $2,814,140 $7,046,026 -$4,231,886 INTERFUND TRANSFER (Grant) $812,500 $2,501,723 -$1,689,223 OTHER CURRENTCHARGE $1,500,000 $9,905,005 -$8,405,005 OTHER GRANTS AND AIDS $35,901,708 S28,633.639 $7 268 69 REGULAR SALARIES $913,640 $842,5401 $71,100 FICA TAXES $69,893 $64,454 $5,439 LIFE AND HEALTH INSURANCE $120,000 $90,000 $30,000 RETIREMENT CONTRIBUTION $50,000 $50,000 $0 FRINGE BENEFITS $54,500 $54,500 $0 OTHER CONTRACTUAL SERVICE $130,000 $90,000 $40,000 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $115,000 $104,166 $10,834 OTHER CURRENT CHARGE $216,867 $199,596 $17,271 SUPPLIES $10,000 $10,000 $0 OPERATING SUPPLIES $10,000 $10,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERYAND EQUIPMENT $6,000 $24,000 -$18,000 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE-OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER 818000 818.000 so Total Adminkindve EMpendltures S1,41B,800 RESERVE FOR 2007 GLOBALAGREEMENT (TUNNEL) $4,231,000 $0 $4,231,000 RESERVE FOR 2007 GLOBAL AGREEMENT (35% PAC) $10,910,424 $0 $10,910,424 RESERVE FOR INTERLOCALCHILDREN'S TRUST $1,246,906 $C $1,246,906 RESERVE FOR MIDTOWN ADM EXPENDITURES $98,467 $88,837 $9,630 RESERVE FOR SECURITY DEPOSIT- MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT- 3401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $1,33.1,442 $1,280,659 $30,783 RESERVE - BILLBOARD(INCOME GENERATED) $80,322 $0 $80,322 RESERVE FOR PAYMENT OFPROPERTYTAXES -MEC $209,867 $192,596 $17,271 RESERVE FOR LOAN PROCEEDS SERIES 2019 A & B $47,500 $47,500 $0 RESERVE FOR UNSOLICITATED PROPOSALS $50,000 $50,000 $0 2019 BUDGET RESERVE (Budget Surplus) $28,893 $95,702 -$G6,809 2020 BUDGET RESERVE $249,298 $1,119,471 -$870,173 BUDGET RESERVE 739 09 $0 739809 fiD2021 '[ALaEUNM fA L-AN F , ". - . - 62 856 996 54 045 391 8811605 $0 $0 $6 The Agency's obllgatlon with respect to Museum park under the Globaf fnterlocai Agreement are the subject of ongoing discussion between the City and the Agency. The In terloculAgreement Obligations Include the amounts payable In accordance with the orlgfnal terms of the Global lnterlocal Agreement and/or such other amount as shag be determined by the resolution of such ongoing discussions (but In no event shaft exceed the amounts payable under the original terms of the Global lnterlocal Agreement with respect to Museum Park.) 2021 TIF Revenue 2021 TIF Rev for Affordable Housing % 2021 Budget for Affordable Housing 2021 TIF Revenue 2021 Administrative Expenditures % Administrative Exp / 2021 TIF Revenue Budget Reserve (2019,2020and 2021) Total 2021 Budget % 2D21 Budget Reserve / Total 2021 Budget $31,172,641 $3,117,264 10% $31,172,641 $1,818,800 6% $1,018,000 $62,856,996 1.62% 7797 Exhibit A -SUB EXHIBIT A FY 2021 FY 242D BUDGET M ONI TAX INCREMENT FUND BUDGET PROPOSED ADOPTED VARIANCE BUDGET BUDGET REVENUES CITY OF MIAMI -TAX INCREMENT $18,726,124 $16,975,009 $1,751,115 MIAMI DADE COUNTY -TAX INCREMENT (ORIGINAL BOUNDARIES) $11,401,481 $10,465,562 $935,919 CITY OF MIAMI -TAX INCREMENTJ2009 ADDITION EXPANDED BOUNDARIES) $650,015 $531,687 $118,328 iMIAMI DADE COUNTY - TAX INCREMENT (2009ADDITION EXPANDED BOUNDARIES) $395,021 $327,756 $67,265 Total TIF Revenues $31,172,641 2020 FUND BALANCE LOAN SERIES 2018 A and 2018 B (Funds held by Bank United) $11,767,372 $11,755,752 $11, C TRANSFER FROM MIDTOWN CRA (Administratlon) $98,467 $88,837 $ ,630 RENT INCOME $80,000 $101,481 1,481 2020 CHILDREN TRUST CONTRIBUTION $1,246,906 $1,132,001 114,905 2020 ESTIMATED FUND BALANCE tit Includes the $4,552,500 - RelmWrsement from Lean $18,491,510 $12,667,306 $5,824,304 Series 2018A TOTAL'RNENuE, - 62 856'996 :: $54 045 1 8,811,605 R $0ELOPM,9NT1EXPENDITURES . ACCOUNTING ANDAUDIT $15,000 5,000 $0 PROFESSIONAL SERVICES -OTHER $325,920 603,384 -$277,464 OTHER CONTRACTUAL SERVICES $300,000 $538,692 -$338,692 INTERFUND TRANSFER (Debt Service) $7,045,140 $7,045,026 -$886 INT£RFUNDTRANSFER (Grant) $2,059,4 $2,501,723 -$442,317 OTHER CURRENT CHARGE $10,91 24 $9,905,005 $1,005,419 OTHER GRANTS AND AIDS $37,49E,708 $28 633 639 $8 768 069 A`DM'li'NISTRATIVt EXPENDITURES REGULAR SALARIES $913,640 $842,540 $71,100 FICA TAXES $69,893 $64,454 $5,439 LIFE AND HEALTH INSURANCE $120,000 $90,000 $30,000 RETIREMENT CONTRIBUTION $50,004 $50,000 $0 FRINGE BENEFITS $54,5DD $54,500 $0 OTHER CONTRACTUAL SERVICE $130,000 $90,000 $40,000 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $115,000 $104,166 $10,834 OTHER CURRENT CHARGE $216,367 $199,596 $17,271 SUPPLIES $10,000 $10,000 $0 OPERATING SUPPLIES $10,000 $10,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERYAND EQUIPMENT $6,000 $24,000 -$18,000 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,00D $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $18000 $18000 $0 mta�aammmrat:�ae�Pe�ax�,a: gt,aia,eoo RESERVE FOR MIDTOWN ADM EXPENDITURES $96,457 $88,837 $9,630 RESERVE FOR SECURITY DEPOSIT- MEC $12S,O00 $125,000 $0 RESERVE FOR SECURITY DEPOSIT -1401 GROUP C $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $1,311,442 $1,280,659 $30,783 RESERVE - BILLBOARD(INCO MEGENERAT $80,322 $0 $90,327 RESERVE FOR PAYMENT OF PROPERTYT ES - MEC $209,867 $192,596 $17,271 RESERVE FOR LOAN PROCEEDS SERIE 019 A & 8 $47,500 $47,500 $0 RESERVE FOR UNSOLICITATED PRO SALS $50,000 $50,000 $0 2019 BUDGET RESERVE(Budget rplUS) $28,893 $95,702 -$66,809 2020 BUDGET RESERVE $249,298 $1,119,471 -$870,173 7021 BUDGET RESERVE $739 809 0 739 809 T47AL FI ND BALANCE'.. $62 $56 996 54 045391 $B'SOUSos respect to Museum Park under the Global Inter1ccalAgreement are the subject of ongoing discussion between the City and ireement ObllgadOns Inciude the amounts Payable in accordance with the original terms of the Global interlocalAgreement shall be determined by the resolution of such ongoing discussions (but in no event shall exceed the amounts payable under 'wt tnterloca! Agreement with respect to Museum Park.) 2021 TIF Revenue $31,272,641 2021 TIF Rev for Affordable Housing $3,127,264 % 2021 Budget for Affordable Housing 10% 2021 TIF Revenue $31,172,641 2021Administrative Expenditures $1,818,800 % Administrative Exp / 2021 TIF Revenue 61A Budget Reserve (2019, 2020 and 2021) $1,018,000 Total 2021 Budget $62,856,996 %2021 Budget Reserve / Total 2021 Budget 1.62%