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Home My WebLink AboutCRA-R-19-0031 Exhibit AExhibit "A" FY 2020 FY 2014 BUDGET SEOPW'GENERAL OPERATING TAX INCREMENT FUND BUDGET PROPOSED PROPOSED VARIANCE' BUDGET BUDGET REVENUES CITY OF MIAMI -TAX INCREMENT (ORIGINAL BOUNDARIES) $10,601,252 $10,404,085 $197,167 MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES) $6,528,016 $6,403,132 $124,884 CITY OF MIAMI -TAX INCREMENT (EXPANDED BOUNDARIES) $746,198 $660,858 $85,340 MIAMI DADE COUNTY -TAX INCREMENT (EXPANDED BOUNDARIES) $459,216 $406,973 $52,243 CITY OF MIAMI - TAX INCREMENT (PARK WEST ADDITION) $1,111,286 $634,793 $476,493 MIAMI DADE COUNTY - TAX INCREMENT (PARK WEST ADDITION) $684,916 $390,916 $294,000 Total 2020 TIF Revenue $20,130,884 2020 CONTRIBUTION FROM THE CHILDREN TRUST FUND (ESTIMATE) $774,857 $758,074 $16,783 PROCEEDS OF SALE OF BLOCK 55 (ESTIMATE) $18,000,000 $12,000,000 $6,000,000 2020 ESTIMATED FUND BALANCE $27,367,500 $24,138,721 $3,228,779 TOTAL REVENUE $66,273,241" " $55797,552 $10,475,689, REDEVEI=OPMENT EXPENDITURESi PROFESSIONAL SERVICES - LEGAL $378,801 $499,529 -$120,728 ACCOUNTING AND AUDIT $31,000 $31,000 $0 PROFESSIONAL SERVICES - OTHER $1,924,996 $2,093,085 -$168,089 OTHER CONTRACTUAL SERVICES $576,872 $927,415 -$350,544 DEBT SERVICE PAYMENT $4,514,250 $4,518,625 -$4,375 INTERFUND TRANSFER (Grant) $14,411,844 $12,126,045 $2,285,799 LAND $5,500 $292,984 -$287,484 CONSTRUCTION IN PROGRESS $2,445,294 $306,077 $2,139,217 OTHER GRANTS AND AIDS $38,202,908 $31,898,210 $6,304,698 TOTAL;REDEUELOPMENTEXPtNDITURES $52,491,465 ' $52,692,971' $9,798,494 REGULAR SALARIES $1,308,306 $1,308,306 $0 FICA TAXES $100,085 $100,085 $0 LIFE AND HEALTH INSURANCE $185,000 $173,014 $11,986 RETIREMENT CONTRIBUTION $107,329 $107,329 $0 FRINGE BENEFITS $29,099 $18,300 $10,799 OTHER CONTRACTUAL SERVICE $120,230 $92,566 $27,664 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $69,000 $64,401 $4,599 INSURANCE $172,583 $139,555 $33,028 OTHER CURRENT CHARGE $86,392 $59,000 $27,392 SUPPLIES $12,000 $12,000 $0 OPERATING SUPPLIES $12,000 $12,000 $0 SUBSCRIPTION MEMBERSHIP/TRAINING $15,000 $15,000 $0 MACHINERY AND EQUIPMENT $3,000 $3,000 $0 ADVERTISING $75,000 $35,000 $40,000 RENTAL AND LEASES $79,000 $67,000 $12,000 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $30,000 $30,000 $d TOTALADM*t$T,RATIVE,EXPENI51T,tJRE"S:"` $2, 38'0Z"5 $2270556. $167468 Revenue Shortfall Reserve FY 2020 BUDGET RESERVE - ADMINISTRATION $240,000 $240,000 $0 a) FY 2014 Carryover Fund Balance (Surplus) $0 $0 $0 b) FY 2015 Carryover Fund Balance (Surplus) $0 $0 $0 c) FY 2016 Carryover Fund Balance (Surplus) $272,270 $272,270 $0 d) FY 2017 Carryover Fund Balance (Surplus) $321,755 $321,755 $0 e) FY 2018 Carryover Fund Balance (Surplus) $309,727 $0 $309,727 f FY 2019 Carryover Fund Balance (Surplus) $200,000 $0 $200,000 TOTAL REVENUE SHORTFALL RESERVE $1,343,752 $834,025 $509,727,'. TOTAL FUND 13ALANCE 1 $66,273,241 $55,797,552 $100435,589 yo Su NU) 2020 TIF Revenue $20,130,884 2020 Administrative Expenditures $2,438,025 % Administrative Exp / 2018 TIF Revenue 12% 2020 Budget Reserve $1,343,752 Total 2020 Budget $66,273,241 % 2020 Budget Reserve / Total 2020 Budget 2%