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Home My WebLink AboutCRA-R-22-0037 Exhibit AExhibit "A" FY 2023 FY 2022 BUDGET SEOPW GENERAL OPERATING TAX INCREMENT FUND BUDGET PROPOSED ADOPTED VARIANCE BUDGET BUDGET REVENUES CITY OF MIAMI -TAX INCREMENT (ORIGINAL BOUNDARIES) $22,078,822 $17,758,099 $4,320,723 MIAMIDADECOUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES) $13,506,719 $10,803,587 $2,703,132 CITY OF MIAMI -TAX INCREMENT (EXPANDED BOUNDARIES) $1,565,969 $1,085,022 $480,947 MIAMI DADE COUNTY - TAX INCREMENT (EXPANDED BOUNDARIES) $957,828 $658,650 $299,178 CITY OF MIAMI - TAX INCREMENT (PARK WEST ADDITION) $2,939,163 $3,009,153 ($69,990) MIAMIDADECOUNTY- TAXINCREMENT(PARKWESTADDITION) $1,797,832 $1,832,075 ($34,243) Total 2023 TIF Revenue $42,846,333 $1,640,268 $1,343,314 $296,954 2023 ESTIMATED CONTRIBUTION FROM THE CHILDREN TRUST FUND 2022 ESTIMATED FUND BALANCE $47,957,143 $49,573,353 ($1,616,210) TOTALREVENUE $92,443,744 $86,063,253 $6,380,492 REDEVELOPMENT EXPENDITURES PROFESSIONAL SERVICES - LEGAL $217,725 $268,691 (550,966) ACCOUNTING AND AUDIT $35,000 $31,000 $4,000 PROFESSIONAL SERVICES - OTHER $1,518,197 $1,310,690 $207,507 OTHER CONTRACTUAL SERVICES $991,391 $1,250,009 ($258,618) DEBT SERVICE PAYMENT $4,510,625 $4,510,625 $0 INTERFUND TRANSFER $20,197,346 $10,648,152 $9,549,194 LAND $14,000,000 $0 $14,000,000 CONSTRUCTION IN PROGRESS $1,376,842 $1,753,477 ($376,635) OTHER GRANTS AND AIDS $42,675,179 $62,450,812 ($19,775,633) TOTAL REDEVELOPMENT EXPENDITURES $85,S22,305 $82,223,456 $3,298,849 REGULAR SALARIES $1,692,605 $1,308,306 $384,299 FICA TAXES $129,484 $100,085 $29,399 LIFE AND HEALTH INSURANCE $245,921 $195,448 $60,473 RETIREMENT CONTRIBUTION $200,000 $127,302 $72,698 FRINGE BENEFITS $37,500 $26,699 $10,801 OTHER CONTRACTUAL SERVICE $120,230 $120,230 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $69,000 $69,000 $0 INSURANCE $172,583 $172,583 $O OTHER CURRENT CHARGE $86,392 $86,392 $0 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 $75,000 $0 RENTAL AND LEASES $79,000 $79,000 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $30,000 $30,000 $0 TOTAL ADMINISTRATIVE EXPENDITURES $3,013,715 $2,456,045 $557,671 Revenue Shortfall Reserve FY 2023 BUDGET RESERVE - ADMINISTRATION $2,763,972 $240,000 $2,523,972 FY 2016 Carryover Fund Balance (Surplus) $240,000 $240,000 $0 FY 2017 Carryover Fund Balance (Surplus) $272,270 $272,270 $0 FY 2018 Carryover Fund Balance (Surplus) $321,755 $321,755 $0 FY 2019 Carryover Fund Balance (Surplus) $309,727 $309,727 $0 FY 2022 Carryover Fund Balance (Surplus) 1 $0 $0 $0 TOTAL REVENUE SHORTFALL RESERVE 1 $3,907,724 $1,383,752 $2,S23,972 TOTAL FUND BALANCE $92,443,744 $86,063,253 $6,380,491 su Su >u 2023 TIF Revenue $42,846,333 2023 Administrative Expenditures $3,013,715 % Administrative Exp / 2023 TIF Revenue 7% 2023 Budget Reserve $3,907,724 Total 2023 Budget $92,443,744 % 2023 Budget Reserve / Total 2023 Budget 40A