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Home My WebLink AboutCRA-R-17-0023 ExhibitFY 2017 AMENDED BUOGET 411012017 FY 2017 FY 2017 BUDGET OMNI TAX INCREMENT FUND BUDGET AMENDED PROPOSED VARIANCE I BUDGET BUDGET REVENUES CITY OF MIAMI -TAX INCREMENT $10,574,483 $10,798,854 -$224,371 MIAMIDADECOUNTY -TAX INCREMENT (ORIGINAL BOUNDARIES) $6,453,941 $6,453,941 $0 CITY OF MIAMI -TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $240,252 $240,252 So MIAMI DADE COUNTY -TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $146,633 $146,633 $0 Total TIE Revenues $17,416,309 TRANSFER FROM MIDTOWN CRA (Administration) $46,632 $0 $46,632 RENT INCOME - MEC $100,000 $100,000 $0 OTHER INCOME - MEC (REIMBURSEMENT FOR 2016 PROPERTY TAXES) $178,177 $112,688 $65,489 RENT INCOME -1401 LLC $101,481 $101,481 $0 MIDTOWN CRA - CONTRIBUTION TO CPA OPERATING BUDGET $0 $0 $0 LAND $0 $0 $0 FUND BALANCE - OMNI CRA OPERATING BUDGET $0 $0 $0 2017 CHILDREN TRUST CONTRIBUTION $713,820 $0 $713,820 AUDITED FUND BALANCE @ 9/30/2016 $7,779,059 $9,151,422 -$1,372,363 TOTALREVENUE $26,334,479 27,105,271 -$770,793 REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES - OTHER $354,700 $361,000 -$6,300 OTHER CONTRACTUAL SERVICES $671,657 $300,000 $371,657 INTERFUND TRANSFER (Debt Service) $4,249,500 $4,249,500 $0 INTERFUND TRANSFER (Grant) $1,455,033 $844,015 $611,018 PURCHASE OF REAL ESTATE $2,000,000 $0 $2,000,000 OTHER CURRENT CHARGE $6,095,358 $6,173,899 -$78,530 CONSTRUCTION IN PROGRESS $0 $0 $0 OTHER GRANTS AND AIDS $7,232,765 $9,773,510 -$2,540,745 ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $532,060 $355,500 $176,560 FICA TAXES $40,703 $27,196 $13,507 LIFE AND HEALTH INSURANCE $48,000 $48,000 $0 RETIREMENT CONTRIBUTION $20,600 $18,625 $1,975 FRINGE BENEFITS $24,150 $9,900 $14,250 OTHER CONTRACTUAL SERVICE $20,000 $20,000 $0 TRAVELAND PER DIEM $30,000 $30,000 $0 COMMUNICATIONS $0 $0 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $104,166 $104,166 $0 OTHER CURRENT CHARGE $214,271 $129,355 $84,916 SUPPLIES $5,000 $5,000 $0 OPERATING SUPPLIES $S,000 $5,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERYAND EQUIPMENT $24,000 $6,000 $18,000. ADVERTISING $30,000 $40,000 -$10,000 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $17,500 $17,500 $0 Total AdmW,tm11va Expene;tu- $1.160.350 RESERVE FOR MIDTOWN ADM EXPENDITURES 546,632 $O $46,632 RESERVE FOR SECURITY DEPOSIT - MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT- 1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $377,135 $362,216 $14,919 RESERVE FOR PAYMENT OF PROPERTY TAXES -MEC $178,177 $0 $178,177 FY 2017 BUDGET RESERVE $2,333,170 $4,000,000 -$1,666,830 TOTAL FUND BALANCE $26,334,478 $77,105,271 -$770,794 A) 2017 TIE Revenue 2017 TIE Rev for Affordable Housing % 2017 Budget for Affordable Housing B) 2017 TIE Revenue 2017 Administrative Expenditures % Administrative Exp / 2017 TIE Revenue C) 2017 Budget Reserve Total 2017 Budget % 2017 Budget Reserve / Total 2017 Budget $u $0 $0 $17,415,309 $1,741,531 RererloltemlOandil -01her Gre01• 10PA $17,415,309 $1,160,350 796 $2,333,170 $26,334,478 9% Description Category Approval Date Reso #1 Amount Amount Remaining Budgeted Expended Balance .CC unting and Audit 1 External Auditing Services to Administration 7/29/2016 16-0038 $15,000 $0 $15,00( the OMNI CRA- Sanson, Kline, Jacomino, Tandoc & Gamarra, LLP rofess€anal Services - other 2 Lobbyists Administration I NR $35,000 $0 $35,001 3 Available for Other Professional Administration NR $268,150 $0 $268,151 Services 4 Financial Support Consultant Administration 12/14/2016 16.0064 $42,850 $6,300 $36,551 5 Public Relation Service Administration NR $15,000 $0 $15,001 Other Contractual Services 6 Horsepower Street Light Quality of Life NR $25,000 $5,543 $19,35 Maintenance 7 Landscaping Service Quality of Life NR $25,000 $3,700 $21,33 B Design, planning and Quality of Life 12/14/2016 16-0065 $325,000 $0 $325,OD construction related services for the CRA, related to the Neighborhood Park and Community Event Space located on certain parcels abutting interstate 395. 9 Consultant fees for Quality of Life 12/14/2016 Per contract $56,000 $D $56,00 construction of Neighborhood Park and other related expenses. 1D CRA Consultants Administration NR $150,000 $0 $1501DO 11 Available for Other Contractual Administration IN $100,000 $0 $100,00 Services - Proposed Budget $250,000 - $150,000 allocated to Other Consultants Total Budget Amount (Professional Services - Legal, Accounting and Audit, Professional Services - Other and other NR - No CRA Resolution $664,807 R - CRA Resolution Passed $376,550 $1,041,357 Fundinj Source Carryover Fund Balance FY 2017 TIF Revenue $15,000 SO $35,000 $0 $268,150 $0 $36,550 $0 $15,000 $0 $19,357 $0 $21,300 $0 $325,000 $0 $56,000 $150,000 $0 1 $100,000 $0 $1,041,357 $0 $1,041,357 $0 $1,041,357 $15,000 $354,70D $671,657 2 Description Category Approval Date Reso# Amount Amount Remaining Budgeted Expended Balance Interfund Transfer jDebt Service 1 Transfer Out to the City of Debt Service Dec-07 2007 Global $4,249,500 $0 $4,249,50£ Miami for the payment of the Agreement Port of Miami Tunnel Series 2012 Other Current Charges and obli ations 2 Estimated 2007 Global Infrastructure Dec-07 2007 Global $6,095,358 $0 $6,095,35£ Agreement Payment - Agreement Performing Art Center 3 Available for real estate Infrastructure NR $2,000,000 $0 $2,000,00( acquisition Interfund Transfer (Grant) 4 2015-2016 Policing Services - Quality of Life 10/22/2015 15-0043 $710,000 $468,791 $241,21i City of Miami 5 Grant to the City of Miami quality of Life 12/14/2015 16.0063 $500,000 $0 $500,00( Police Department for the Expanded Police Program 6 2017 Children Trust Quality of Life Dec-07 Interlocal $713,820 $0 $713,82t Contribution I I Agreement Subtotal I I 1 1 $13,554,959 $468,7871 $13,086,07: Total Budget Amount (Interfund Transfer (Debt Service), Debt Service, Purchase of Land and Interfund Transfer (Grant) NR - No CRA Resolution $2,000,000 R - CRA Resolution Passed $11,799,891 $13,799, 891 Fundiril Source Carryover Fund Balance FY 2017 TIF Revenue $0 $4,249,500 $0 $6,095,358 $0 $2,000,C00 $241,213 $0 $0 $500,000 $0 $713,820 $241,223 $13,558,678 $241,213 $13,558,678 $13,799,891 $4,249,500 $6,095,359 $2,000,000 $1,455,033 3 Description Category Approval pate Reso # Amount Amount Remaining Carryover uVFY 2D17 Budgeted Expended Balance Fund TIF Balance Revenue Other Grants and Aids 1 Grant to the Perez Art Art and Culture 7/29/2016 16-0039 $1,000,000 $571,531 $428,469 $428,469 $0 Museum of Miami Dade County for various community benefits to the redevelopment area. 2 1401 Rest LLC - Lessor's Job Creation 6/13/2013 13-0036 $60,000 $0 $60,000 $60,OOD $0 Contribution to leasehold improvements - Grease Trap and Hood System 3 Grant to Chapman House Infrastructure 12/14/2016 16-0058 $60,000 $0 $60,000 $60,000 $0 for Facade Improvement Program 4 Guitars Over Guns Art and Culture NR $185,00ul $0 $185,000 $185,000 $0 5 Community initiatives- Art and Culture NR $0 $0 $0 $0 $0 Proposed Budget$100,000 (Funds allocated to Budget Reserve) 6 Arts in the Park/Pop Up Art and Culture NR $0 $0 $0 $O $D Parks - Proposed Budget $750,000($325,000 allocated to Urban Temporary Park - CRA R - 16-0065 and $425,000 to Budget Reserve) 7 Matching funds obligation Infrastructure 3/28/2013 13-0017 $150,000 $26,214 $123,786 $123,786 $0 under the Florida Inldan Navigation District Grant for Phase 2 -Miami Woman'sClub Baywalk Project - CIP Project 8 Available for Business Job Creation / NR $0 $0 $0 $0 $0 Initiatives and Jab Creation Quality of Life Programs - Proceeds from sale of land -14th St DEV LLC - $1,253,649 - CRA-R-15 0021 - Proposed Budget 9 Dorsey Library -Project Infrastructure CIP $850,000 $0 $850,000 $850,000 $0 Cast - CIP Project - Funds Approved derived from sale of land - Project 14th 5t DEV LLC - $1,253,649 - CRA R -15- 0021 10 Available TIF funds for Affordable 9/13/2016 16-0040 $1,041,531 $0 $1,041,531 $0 $1,041,531 Affordable Housing Projects Housing - Original Amount $1,741,530.90 11 Grant to Rebuilding Affordable 12/14/2016 1&0061 $700,000 $0 $700,DC0 $0 $700,000 Together Miami -Dade Inc. Housing to provide partial funding for a home improvement facade and quality life program. 12 Grant toLegido Affordable 12/14/2016 1G-0062 $905,000 $0 $905,000 $905,000 $D Management 5ervices, Inc Housing to provide funding for "Business Rehabilitation Grant Programs" 13 Grant to Camillus House, Quality of Life 12/14/2016 16-0059 $175,000 $0 $175,000 $175,000 $0 Inc. for the "Miami Shelter Program" 14 Miami Downtown Quality of Life 12/14/2016 16-0057 $50,000 $0 $50,000 $50,000 $0 Development Authority to expand the Downtown Enhancement Team (Purple Shirts) 1s Available for Business Job Creation j NR $0 $0 $0 $0 $0 Initiatives and Job Creation Quality of Life Programs - Proposed Budget $502,107 allocated to Grant to Legido Management Services, Inc 16 Museum Park Remediation Infrastructure CIP, $175,000 $0 $175,000 $175,000 $0 Project B-30538. CIP Project Approved funded with OMNI TIF Project Funds. 17 Contribution to the City of Infrastructure 6/25/2015 15-0022 $3,750,000 $1,271,021 $2,478,979 $845,675 $1,633,304 Miami -TRI Rail Project 5/26/2016 Subtotal $9,101531 $1,862756 $7.232,765 $3,857930 $3,374,835 $3,857,9301 $3,374,835 Total Budget Amount Other Grants and A'!ds NR - No CRA Resolution $185,000 R - CRA Resolution Passed $7,047,765 $7, 332,765 $7,232,765 OMNI Position Executive Director - OMN 1 $120,000 Executive Director- Midtown (Reimbursed by Midtown CRA) $2,740 Assistant Executive Director $75,000 $50,000 Chief Legal Officer $70,000 $46,667 Director of Policy and Planning $57,500 $38,333 Cash Out Accumulated Annual Leave Cash Out - Former Assistant Executive Director $32,516 (Balance @ 4/7/17 = 739) Cash Out of 200 hours of annual leave in FY 2017 Cash Out - Former Assistant Executive $8,846 Former Assistant Director Salary (Oct 2016 - April 2017) $53,667 Assistant to the Executive Director $43,000 Community Liaison $42,000 Intern ($10/Hour) $20,800 Compensated Absences $73,491 Regular Salaries $332,060 Fica taxes $40,703 $40,703 Health/Dental/Vision Insurance OMNI CRA Staff $48,000 Contingency $5,000 Life and Health Insurance $48,000 Retirement Contribution (401K) Executive Director $9,600 Assistant Executive Director $2,500 Assistant to the Executive Director $2,150 Community Liaison $2,100 Chief Legal Officer $2,333 Director of Policy and Planning $1,917 Retirement Contribution $20,600 CarAllawance Executive Director - OMNI $3,600 Executive Director - Midtawn (Reimbursed by Midtown CRA) $6,000 Former Assistant Director ($300 x 7 months (Oct 2016 - April 20171 $2,100 Assistant Executive Director ($300 x 5 months) $1,500 Chief Legal Officer $2,400 Cell Phone Allowance Executive Director - OMNI $1,200 Executive Director - Midtown (Reimbursed by Midtown CRA) $2,400 Assistant Executive Director $1,500 Former Assistant Director ($150 x 7 months {Oct 2016- April 2017) $11050 Chief Legal Officer $1,200 Director of Policy and Planning $1,200 Fringe Benefits $14,150 ADP - Payroll Processing Fee (26 payroll periods X $150) $3,900 Janitorial Service / Supplies $9,000 Circle Security Solutions $2,700 Comcast $2,400 OTIS Elevator Maintenance Service $2,000 Other Contractual services $2Q000 To include cost for travel out of the city for conferences and travel allowances. $30 000 Travel and Per Diem I$30,000 FPL - Fire House $10,800 Miami Water and Sewer $3,500 Contingency $6,000 Utility Service $20,300 Property Insurance/General/Liability Insurance (MEC) $71,166 Property Insurance/General/Liability Insurance (Fire Station No 2) $28,000 Workers Compensation (CRA Staff) $5,000 Insurance $104,166 To include the cost of food associated to CRA Meetings/Ribbon Cutting $5,000 To include the cost of miscellaneous supplies. $2,r000 Sale Tax - 1401 Rest LLC $8,223 Sale Tax - EUE / Screen Gems LTD, Inc MFC $20,872 2016 MEC Property Taxes $178,177 Other Current Charges $214,211 To include supplies necessary for use in the operation of an office, such as copy $5,000 Supplies 1 $5,000 To include other supplies not office related. Ex. Misc. Project Construction and $5,000 Operating Supplies $5,000 To include the cost of memberships to organization, Microsoft license, and $17,000 Subscription Membership 1 $17,000 Purchase of Vehicle $18,000 To include the cost of new computers $6,O00 Machinery and Equipment F $24,000 To include the expenses of placing advertisements in the newspapers or other $30,000 Advertising 1 $30,000 Konica Minolta Copier $3,600 Rental and Leases $3,6nn To include the cost of stamps or other related item. Distribution of newsletter $2,000 Postage F $2,000 To include the cost associated to any office/truck repair. $2,000 Repair / Maintenance - Outside F $2,000 To include transfer of funds to the City of Miami Office of the City Clerk for $17,500 Interfund Transfer $17,500 Total FY 2017 Amended Budget- Recurrent Expenditures $1,160,350