HomeMy WebLinkAboutR-01-0526J-01-403
5/11/01
01- 526
RESOLUTION NO.
A RESOLUTION OF THE MIAMI CITY COMMISSION,
WITH ATTACHMENT(S), APPROVING AND ADOPTING
THE AMENDED MIAMI SPORTS AND EXHIBITION
AUTHORITY OPERATING BUDGET FOR FISCAL YEAR
COMMENCING OCTOBER 1, 2000 AND ENDING
SEPTEMBER 30, 2001 ("MSEA BUDGET"), ATTACHED
AND INCORPORATED, TO INCREASE CERTAIN LINE
ITEM ALLOCATIONS, IN THE AMOUNT OF $200,000;
FURTHER AMENDING RESOLUTION NO. 00-805 TO
REFLECT THE MSEA BUDGET INCREASE, FROM
$750,000 TO $950,000.
WHEREAS, pursuant to Resolution No. 00-805, adopted
September 14, 2000 (attached and incorporated), the City
Commission adopted and approved the Miami Sports and Exhibition
Authority Operating Budget ("MSEA Budget"), in the amount
of $750,000; and
WHEREAS, on February 27, 2001, the Miami Sports and
Exhibition Authority ("MSEA") Board approved amendments to the
MSEA Budget; and
IAiiAtHMEEiT M
01- 526
WHEREAS, the proposed amendments, attached and
incorporated, identify categories for compensation and benefits,
administrative, professional and consultant services, and
capital expenditures totaling $950,000; and
WHEREAS, the categories reflected in the projected budget
comply with the required mandates which were established to
facilitate the development of public facilities necessary for
the expansion and promotion of professional and international
sports, convention and exhibition related activities, and other
events which contribute to economic and social growth in the
City of Miami, with the appropriate portion of Convention
Development Tax receipts and authority revenues being used to
satisfy the demands of the MSEA Budget; and
WHEREAS, the amendments represent a $200,000 increase over
that of the approved Budget of $750,000;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the
Preamble to this Resolution are adopted by reference and
incorporated as if fully set forth in this Section.
01- 526
Page 2 of 4
Section 2. The Amended Miami Sports and Exhibition
Authority Operating Budget for Fiscal Year Commencing October 1,
2000 and ending September 30, 2001 ("MSEA Budget"), attached and
incorporated, to increase certain line item allocations, in the
amount of. $200,000, is approved and adopted.
Section 3. Resolution No. 00-805, adopted September 14,
2000, is amended in the following particulars:11
"RESOLUTION NO. 00-805
Section 2. The Miami Sports and Exhibition
Authority Operating Budget, in the amount of fi:7508
950,000, for the Fiscal Year commencing October 1,
2000 and ending September 30, 2001, attached hereto
and made a part hereof, is hereby approved and
adopted.
Section 4. This Resolution shall become effective
immediately upon its adoption and signature of the Mayor.a'
Words and/or figures stricken through shall be deleted. Underscored
words and/or figures shall be added. The remaining provisions are now
in effect and remain unchanged. Asterisks indicate omitted and
unchanged material.
If the Mayor does not sign this Resolution, it shall become effective
at the end of ten calendar days from the date it was passed and
adopted. If the Mayor vetoes this Resolution, it shall become
effective immediately upon override of the veto by the City commission.
Page 3 of 4 01— 526
U
PASSED AND ADOPTED this 24th— day of Mag , 2001.
ATTEST:
JOE CAROLLO, MAYOR
in aeoordanos with Miami Code Sec. 2 -ft einoe the MAA did na MdlceM of
this loginiation by signing it in the designated pleas providod, said legisitttinn n"'."
becomo., ciiective wish tho eiapse of ten (10) days orn lite date of Comm! r !
regarding same, without tho Mayor o•
WALTER J. FOEMAN Wa J. F man, kS► Cie
CITY CLERK -I
CORRECTNESS:6
Page 4 of 4
01- 526
May 06 01 04r15p � � P•2
w
t4�'Ftt;c;'1,
Proposed Budget Amendment
Fiscal 2000-2001
Below plem trod twtcz on the propuseci amendments. The saqucutial numbers retia to
the line item in the operating, budget which require an increase.
We will be utilizing the Bank in various investments to optimize our intereA earning
within our investment policy. Dtis will require some additional task for the bank and we
are amending this line item with an additional $1,000.
10. sinvss Trayt,
The proposed amount for out of town expenses was originally set at $12,500. This included
airfare, hotel and meats for staff nwmbers who traveled on behalf of rho Authority in an effort to
explore and secure additional conventions for the city of Miami, and to keep abreast of the over
changing business environment. We are proposing an additional $7,500 to slop up direct cwttaet
efforts with promoters, event planners, producers and exhibitors.
13. Conc�gencies
The amount of unanticipatuJ raid ixin traditional expense that will nw fit within the line item
titles have to he inoreased by $5,000 as we are creating a ratio between planned aedvtties.
improvements and the budget total.
701 Arena fes.. Miami. Fkxldo 33136 (305) 350.7861/Fox (305) 380-7867 1
O i — 5 V
May 06 01 04:15p
15. Event Sponsorslt ni
The proposed budget amount of $ 10,000 is schoduled to provide funding by the Authority for thv
sponsorship of special ovents to meet the needs of the community. We aro proposing an
additional $30,000.00 to develop more business related and community focused events (i.e., Job
Fairs as well as Sports and (entertainment flail of Fame ovents). We will also focus on lite
development of additional revonue generating events such as Latin Fan Fair, Trade and
Exhibition Receptions and so forth.
17.Ocucral lnsurago
Premium payment of $4,750 was projected for the fiscal year to provide insuranm coverage for
Authority operation. 'flit insurance offers protection from Commercial Crime, tine at comnwrcial
property, Commomial Liability, Comuwroial Umbrella Liability for injury and Workers'
Compensation. In response to (tie Board of Directors' concerns regarding personal liabilities for
MSCA direclivere, we are acquiring Directors liability Insr►rance estimated at S25,000.
19. Mi1cq11WXjWs Warehouse 1-,xmnse
This will include repair and replacement of the gate, vundalimd fence, and Borne other
minor improvements ut the warehouse.
23. Poo=
Due to increase in MSEA's marketing activities the pamage will incream slid we are
therefore required to amend the line item by $2,000.
25. Promotiuns/Markctinp.
The original budget amount of $250,000 was to provide funding for MSCA special event
programs and promotions. This lint; item changed due to the Board directives to sponsor the
Orange Bowl Soulrest event scl►eduled for May 2001 and provide $150,000. In order to continue
developing revenue -generating programs such as Radio Disney Summer Break, The Miami
Sports Slow, and other Events in Progress, we will amend the budget by $100,000.
28. I. !iml 5unuorl
The proposed budget amount of $50,000 is to provide legal support for the Authority. Sinoe
pending invuiwa arc exceeding tho budget, we an: proposing an increase of $30,000 to this line
item.
01- 526
MPY-11.IRIMI IS: 45 CITY CLERKS OFF ICE 305 858 1610 ?.01
0 •
J-00-792
8/30/00
RESOLUTION NO.
A RESOLUTION OF THE MIAMI CITY COMMISSION,
WITH ATTACHMENT(S), APPROVING AND ADOPTING
THE MIAMI SPORTS AND FXHTBITION AUTHORITY
OPERATING BUDGET, IN THE AMOUNT OF $750,000,
FOR THE FISCAL YEAR COMMENCING OCTOBER 1,
2o00 AND ENDING SEPTEMBER 30, 2001, ATTACHED
HERETO ANn MADE A PART HEREOF.
WHEREAS, Section 2-1020 of the Code of the City of Miami,
Florida, as amended, provides that the Miami Sports and
Exhibition Authority ("MSEA") establish a fiscal year which
coincides with that of the City of Miami and that the MSEA budget
request be submitted for approval by the City Commission; and
WHEREAS, on August 23, 2000, the proposed budget for the
Fiscal Year 2000-2001 was reviewed and approved by MSEA; and
WHEREAS, the proposed budget, attached Hereto, identifies
categories for compensation and benefits, administrative,
profeesXonal and consultant services, and capital expenditures
totaling $750,000; and
WHEREAS, the categories reflected in the projected budget
comply with the required mandates which were eatabli.shed to
facilitate the development of public facilities necessary for the
expansion and promotion of professional and international sports,
convention and exhibition related activities, and other events
which contribute to economic and aooial growth in the City of
TQ ����r ' • �r MET:= OF
SEP I
Oi— 526
fffflgas
MAY -11-2001 15:46 CI? -Y CLERKS GFFICC 305 b58 1610 P.02
i •
Miami, with the appropriate portion of Convention Development Tax
receipts and authority revenues being used to satisfy the demands
of said budget; and
WHEREAS, this proposed Fiscal Year 2000-2001 budget in the
amount of $750,000 represents a $15,000 increase over that of
Fiscal Year 1999-2000;
NOW, TIMREFORE, BE IT RESOLVED BY TiiE COMMISSION OF THE CITY
OF MIAMI, FLORIDA:
Section 1. The r-ecitals and finding contained in the
Preamble to thio Resolution are hereby adopted by referenoe
thareto and incorporated herein as if fully set forth in this
Section.
Section 2. The Miami Sports and Fxhibition Authority
Operating Budget, in the amount of 0750,000, for the Fiscal Year
commencing October 1, 2000 and ending September 30, 2001,
attached hereto and made a part hereof, is hereby approved and
adopted.
Section 3. This Resolution shall become effective
Immediately upon its adoption and signature of the Mayor -I/
v if the Mayor does not sign this Resolution, it shall become effective at
the end of ten calendar days from the date it was passed and adopted.
if the mayor vetoes this Resolution, it shall become effective
immediately upon override of the veto by the City Commission.
Page 2 of 3
01- 526
MPY-11-2001 15=46 CITY CLERKS OFFICE 305 SM 1610 P.63
• 0
PASSED AM ADOPTED this 14th_ day of Sentlb®r 2000.
JOE—CAROLLO, MAYOR
M S000tdsnoo wkh Mfand Cocas Sac. 2.30. Tinea the Mayor db nCt IhOloetp �ry�rvrr M
j -1a ispielatbn by 94Nmg it In the dsa;pnotod pi oe prO*cd. raid tui:.:; : :,
bawom stlsotivo with tho elapse o4 ten (10) daVi%06 the date oa O=miss:: :71
ropeQnp am. wkhout Ihs Mayor olel ft
ATTEST= Walter icp~cky Cleric
01- 526
ff siw
MAY -411-2001 15:46
CITY CLERKS OFFICE
0
305 SM 1610 P.04
701 /tofu ow, Miomt Floral 33136 (306)360-7061IFox (306) 3607867
01- 526
MAY -11-2001 15:46 CITY CLERKS OFFICE 3W 856 1610 P.05
-a -.-�2- •
r
ial�i"!f1'l3
S1"ICAS ar)d
TABLE OF CONTENTS
Letter from the Executive Director...........N.w......HN. H.Nw...N/.......... N.NN.N 1
MSEA Board of Directors and Committees ..H.NI.....N.N........I........N.N.N.....3
MSEAStaff.N...... ................................N .............. .w.H...............
N.H.......... H..N.. 4
Memorandum to Board of Directors. ............ 4 . . . .... . . .......
. ... . . . ......... . .... 5
Organisation and Its Mission ....... ........................... ..«.........N............
N.......N 7
Goals and Objectives.......................................................4.......N.H....N........ S
Transmittal Memanndum..N...................N.NUN. N. N.NN.N.N...b N..N.N...NN.N. 49
Proposed Resolution ..... NN.HN.N....wNM.w..N.N.1.1.............I..N
Financial Summary qU.....0U.NNN......-.N............ N..... N N........ H NNN U.N.N U... AM
Funds and Accounts .U.w.......bN.............N...N..........NN.NN......NJ.N.NNw.NNN.. 14
Income Projection ............ .......... N.....w..... N .... .............. .N ..... NN....... ............... is
Proposed} budget...U.....w............................. N.w...N NUN.. ..... .
................. NNNNlt�
Budget )Votes.....N.wN....N..HNN....N.N..N.NNNN..........MN.......wN.
N.NN.N..NN..11...1
701 Arena Blvd., Mlvml. Florida 33136 (304) 350.7861 /Fax (305) 3W 7861
01- 526
MRY-11-2001 15:46 CITY CLERKS OFFICE
August 28, 2000
•
305 859 1610 P.06
Honorable Mayor and Members of the Miami City Commission
3500 Pan American Drive
Miami, FL. 33133
Honorable Mayor and Members of the City Commission:
Enclosed, please find the proposed operating budget for the Miami Sports
and Exhibition Authority for 2000-2001. 1 am pleased to inform you that the
proposed budget reflects
S 1,183,546 in revenues and a Net Operating Income to MS RA in the
amount of
$433,546.
There are three significant changes to the proposed operating expenses from
the previous fiscal year. The first is that I proposed a Marketing
Representative position which will support MSEA primarily in the
marketing of the Miami Arena with additional .city related project
responsibilities. The salary for this position will be S 35,000. As we begin
the new fiscal year, we will eliminate the secretary position. Then, at a later
date we will seek interns at a much lower cost while we increase our
outreach programs to promote community awareness of our organization.
We are in the planning stages of developing a unique holiday program for
the local community to support our positioning as the people's choice for
family entertainment. We will continue to embrace our family programs
such as Disney On Iee and Barney, while complimenting them with some of
the best concerts in the industry.
701 Arena Blvd., M10MI. FI XW 33136 (305) 350-7661/FoX 1305) 350-786
$1;1Z1WIWO
Page 1
01-- 526
MAY -11-2001 1547 CITY 30
CLERKS OFFICE • 5 858 1610 P.07
August 28, 2000
Honorable Mayor and Members of the City Commission
Pap
As we welcome back the University of Miami Basketball Team, our 2001
sports programs will be somewhat limited. This is due in part to the
departure of the Miami Heat professional basketball team. However, the
Miami Arena under the direction of MSEA and the SMG Management
Team, will position itself to approach World Championship Wrestling,
Boxing, both professional and collegiate, as well as amateur athletic
competitive sports programs.
In 2001, we will also be stepping up our efforts by participating in Citywide
opportunities, exploring partnerships with the Greater Miami Convention
and Visitors Bureau, the Miami and Miami Beach Convention Centers as
well as major trade shows with exhibitions.
As we go forth with our 2001 initiatives, we hope that this budget meets
with your approval. Should you have any questions, please do not hesitate
to contact me at your convenience.
Best Regards,
0 James Je
Executive Director & CEO
Cc: Members of the Miami Sports and Exhibition Authority
Pop
01- 526
MAY -11-2001 15347 CITY CLERKS OFFICE . 305 858 1610 P.08
Board of Dilrect2xs
Honorable Mayor Joe Carollo, Chairman
Honorable Commissioner Johnny Winton, Vice -Chair
Eli Feinberg
Diego Garcia
Orlando Garcia, Jr.
Sam Gentry
Al Huston
Steve Marin
Carlos Martel
Larry Pierre
Marianne Salazar
rfiS_ EACoiumittge�
Finance Committee Convention Commi
fill Feinberg Orlando Garcia, Jr.
Orlando Garcia, Jr. Steve Marin
Steve Marin
MS&A Board of Dimtors meet on a monthly basis. The committeas mom as f 4u"y as needed.
701 Arena 8W,. Miam6 NoWa 33136 (308) 35D-7861 /FOX (306) 350.7867
ff�=
o1- 525
MAY -11-2001 1S=44
CITY CLERICS OFFICE
•
305 858 1610 P.09
7pl Aorta iWd.. MIamL FbrWa 331 36 13061 360.7"1" (306) 36x7867
01- 526
MAY -11-2001 15:47 CITY CLERKS OFFICE
To. Honorable Mayor and
the Board of Directors
From: James JC
Executive D r
Date: August 23, 2000
•
305 am 1610 P.10
Re: Miami Sports and Exhibition Authority Fiscal Year 2000-01
Proposed Administrative Budget
It's respectfully requested that the Board of Directors approve the budget
for Fiscal Year 2000-01 reviewed by the Budget Committee on the August
23`d meeting.
gj.: • 1�1�
The Miami Sports and Exhibition Authority Operating Budget is funded
from certain allocated proceeds of the Convention Development Tax, levied
pursuant to Florida Statue 212.0305, and other Authority revenues.
Section 52.6-10 of the City of Miami Ordinance creating the Miami Sports
and Exhibition Authority requires that a) the City Commission on an annual
basis approve the Miami Sports and Exhibition Authority Operating Budget
and b) that the Authority establish a fiscal year coinciding with that of the
City of Miami.
Page S
701 Arena Wd„ Mloml, Florida 33136 (306)360.7961/Fox (3051360.7967 � !'
O1- 526
MAY' -11-2001 15:47 CITY CICRKS OFFICE 305 658 1610 P.11
•
August 23, 2000
Honorable Mayor and Members
of the Board of Directors
At its meeting on August 23, 2000, the Miami Sports and Exhibition
Authority adopted a proposed Fiscal Year 2000-01 Operating Budget which
is attached hereto for your review. This budget identifies the requirements
for compensation and benefits, administration, professional and consultant
services, and capital expenditures for the operations of the Authority.
Actual expenditures are monitored on a monthly basis pursuant to Chapter
52.6-5 of the Authority Ordinance. The Executive Director is required to
report on a monthly basis to the Authority and prcparc a statement of current
and year to date expenditures in comparison to budget. In addition, a
national accounting firth will be retained to provide complete fiscal year
2000-01 audit pursuant to section 52.6-11 of the Miami Sports and
Exhibition Authority Ordinance.
The fiscal year 2000-2001 budget is $750,000 which shows an increase of
$15,000 and includes a Marketing Representative position that is
responsible for developing and initiating MSEA marketing directives for the
Miami Arena and related projects.
Although this budget reflects the best available information regarding
administrative responsibilities and program development, a supplemental
budget would be submitted by the Miami Sports and Exhibition Authority
for City Commission approval if future administrative or operational needs
so required.
01- 526
MAY -11 -WW1 15:47 CI7Y CL-FPK5 OF-FICE A05 H58 1610 P.12
Miami Sports and Exhibition Authority
ORGANIZATION
The Miami Sports and Exhibition Authority was created on November 10,
1982 by City of Miami Ordinance No. 9527. It was amended to reflect its
current structure on July 28, 1983, by City of Miami Ordinance No. 9662,
pursuant to Convention Development Tax Legislation, Florida Statute
212.057. The Authority is an independent and autonomous agency and
instrumentality of the City of Miami, established for the purposes of
promoting sports, conventions and exhibitions and to attract sports
franchises to utilize City facilities.
The majority of the funding for MSEA comes from the Convention
Development Tax (CDT). This tax is a 3% charge added to all guests at the
County hotel, motel, resort, trailer, camp, condominium, etc. staying less
than six months in residence. Miami -Dade County collects these monies of
which MSEA receives one-third to defray the cost of its operation.
MISSION STATEMENT
The mission of The Miami Sports & Exhibition
Authority (MSEA) is to facilitate and promote sports,
conventions, exhibitions, entertainment, tourism and
related activities which will contribute to the
economic and social growth of the City of'Miami.
Page 7
01-- 526
11$XWy
MAY -11-2001 15+48 CITY CLERKS QFFICE
To: Honorable Mayor and
Members of the City Commission
From: PV James H. Jenkins t�K .--
Executive Director
Date: August 28, 2000
305 658 1618 P.13
•
Re: Miami Sports and Exhibition Authority Fiscal Year 2000-2001
Proposed Operating Budget
�*_(OIQUVIUVI •.
It Is respectfully recommended that the City Commission adopt the attached resolution
approving the Fiscal Year 2000-2001 Proposed Miami Sports and Exhibition Authority
Administrative Budget pursuant to Section 52.6-10 of the City Ordinance.
The Miami Sports and Exhibition Authority administrative Budget is fwWed from certain
allocated proceeds of the Convention Development Tax, levied pursuant to Florida Statue
212.0305, and other Authority revenues.
Section 52.6.10 of the City of Miami Ordinance creating the Miami Sports and
Exhibition Authority requires that a) the City Commission on an aaauel basis approve the
Miami Sports and Exhibition Authority Administrative Budget and b) that the Authority
establish a fiscal year coinciding with that of the City of Miami.
701 Aron Blvd., Miami, Florida 33136 (305) 350.7861/Fox (3051360.7667
Pap 9
ai- 526
MAY -11-2001 15348 CITY CLERKS OFFICE 305 (358 1610 P.14
August 28, 2000
Honorable Mayor and Members
of the City Commission
Page 2
At its meeting on August 23, 2000, the Miami Sports and Exhibition Authority adopted a
Proposed Fiscal Year 2000.2001 Operating Budget which is attached hereto for your
review. This budget identifies the requirements for compensation and benefits,
administration, professional and consultant services, and capital expenditures for the
operations of the Authority.
Acted expenditures are monitored on a monthly basis pursuant to Chapter 52.6-5 of the
Authority Ordinance. The Executive Director is required to report on a monthly basis to
the Authority and prepare a statement of current and year to date expenditures in
comparison to budget. In addition, a national accounting fum will be retained to provide
complete fiscal year 2000.2001 audit pursuant to section 52.6.11 of the Miami Sports
and Exhibition Authority Ordinance.
The fiscal year 2000-2001 budget has been increased by S 15,000. The increase is due to
our present objectives to increase marketing efforts to promote sporting events.
conferences, and exhibitions at City facilities.
The accompanying notes to the proposed budget more fully explain the changes and their
respective impact on the budget.
Although this budget reflects the best available information regarding administrative
responsibilities and program development, a supplemental budget would be submitted for
the Miami Sports and Exhibition Authority and City Commission approval if future
administmtive or operational needs require.
Page 10
01- 526
MAY -11-2001 15:48 CJ*rY CLERKS OFFICE � 305 858 1610 P.15
wsrnioo
RESOLUTION NO.
-
A RESOLUTION, WITH ATTACHMENT, APPROVING THEM"
SPORTS AND EXHIBITION AUTHORITY'S PROPOSED OPERATING
BUDGET FOR FISCAL YEAR 2000-2001, ATTACHED HERETO AND
INCORPORATED HEREIN.
WHEREAS, City Code provisions requires that the Miami Sports and Exhibition
Authority (MSEA) establish a fiscal year coinciding with that of the City of
Miami, and that the Operating Budget be submitted for appropriate consideration by
the City Commission; and
WHEREAS, on August 23, 2000, MSEA Board approved its 2000-2001 Fiscal
Year Operating Budget: and
WHEREAS, the proposed budget, attached hereto, identifies categories ,for
compensation and benefits, administrative, professional and consultant services, and
capital expenditures totaling 750,000; and
WHEREAS, the categories reflected in the projected budget comply with the
required mandates which were established to facilitate the development of public
facilities necessary for the expansion and promotion of professional and international
sports, convention and exhibition related activities, and other events which contribute
to economic and social growth in the City of Miami, with the appropriate portion of
Convention Development Tax receipts and authority revenues being used to satisfy the
demands of said Budget; and
WHEREAS, the Fiscal Year 2000-2001 proposed administrative budget in the
amount of $750,000 represents a S 15,000 increase over that of Fiscal Year 1999-
2000;
NOW, THEREFORE, BE IT RESOLVED BY THE COMMISSION OF THE
CITY OF MIAMI, FLORIDA;
Section 1. The recitals and finding contained in the Preamble to this Resolution are
hereby adopted by reference thereto and incorporated herein as if fully set forth in this
Section.
Page 11
Ei- 526
MRY-11-2M1 15,48 CITYCLERKS OFFICE • 308 958 1610 P. IG
Section 2. The Miami Sports and EXhlbidon Audto�� PMed OOperadnB�adl*
for Fisoal Year 2000.2001, sttactud hm+ato and incorporate
Section 3. TMI Resolurtion shaft beeome effwdve imm"udly upon its adoption and
Wpaws of the Mayoc.
PASSED AND ADOPTED Ibis,,,,_
day of 2000.
r
JQE OADL ,MAYOR ;
16 {
AT STT.
CITY CL}?+It1G
TO FORM
CORpischm8' `
APPROVED AS AND
4 t Fj � Il
{
4
f
VR ARELLO
ALWANDRO
CITY ATTORNEY
01- 526
MAY -11-2001 15:49 CI7Y CLERKS OFFICE 305 858 1610 P.17
• •
MIAMI SPORTS AND EXHIBITION AUTHORITY
Financial Summary
19992 SSnecial Obligation Refunding Bands
Tlie Miami Sports and Exhibition Authority (MSEA) issued the 1992 A & B Bonds to
pay for the Arena on August 5, 1992. These Bonds, collectively referred to as 1992
SPECIAL OBLIGATION REFUNDING BONDS were issued to refund the 1991 and
1989 Bonds.
1992 A Bond S 40, 950,000
1992 B Bond _ 7. 725,000
Total 92 Bon S 48, 675,000
The Series 1992 A Bonds tnature in an annual rates increments range of $650,000
beginning in 1994 to $2,910,000 through the year 2020.
The 1992 B Bonds mature in annual increments of $500,000 beginning in 1994 to
$850,000 through the year 2004.
The "Bonds" carry an interest rate of 2.95 percent to 6.625 percent, and are payable
solely through "pledged revenues."
Pledged Revenues are Convention Development Tax (CDT) monies, The Authority
receives 1/3 of the 3% CDT monies collected by Dade County as a tourist tax.
Every month the Miami Dade County sends MSEA's share of the CDT to SunTrust (the
Trustee). The Trustee distributes the funds according to a pre -defiled schedule of
monthly payments. For instance, the CDT Revenue for 1996-99 amounted to
approximately $8,720,000 which satisfied the following accounts:
• Principal payment for Bonds $ 1,480,000
• Interest payment for Bonds 2,509,000
• Capital Reserve and Operating Deficit Fund (1) 3,500.000
• Management fee for the Trustee 14,000
• MSEAM 823,000
• Returned to County(3) 407,000
1) Aeeordltt6 to prsdefine0 echcduk. 6xhlbh a, 1991 pends, for the FY 3000/2001 CR & OD k S 1.300,000.
2) MSEA's sham increases by 3% each year, therefam our budset rallects $193,346 for 2000/2001.
3) Once the pm-clefhred schedule is satisfied the romaiMat orthe CDT lintels will be returned to the County -cc a Was to
reconuncndalion of County Adtninlausuon of Mauch 6, 1990.
'The Prieaapal balance an the 92 Bonds as of September 30, 2000 is pttljeekd as $31, 00.000
YeRe 13
01-- 526
IZIAY.if3t%
MAY -11-2001 15149 CITY CLERKS OFFICE
305 859 1610 P.10
Miami Sports and Exhibition Authority
Funds and Accounts
No.
ral Funds:
189008505853
169001117384
189001135512
189001150252
Capital Project Funds:
6758504
6700392
Debt Service Funds:
6757120
6763002
6763003
6763004
Account Title
Money Market
Operating Account
Payroll Account
Art in Public Place
Capital Reserve & Operating Deficit
Custodial Account
92 A & B Principal Fund
92 A & B Interest Fund
General Fund
92 A & B Expense Fund
Pao 14
01- 526
MAY --11-2001 15:49 CITY CLERKS OFFICE
• 305 059 1610 P.19
Muni Sports and Exhibition Authority
Income Projection
99000
IN04001
Actssl
ho ecVActwl
1'ro eeNo■
Revenues:
I CDT 023,401
848,103
07341146
2 Interest Income IU I"
230,000
300A00
3 parking I. moiremuse 16427
13,000
3,000
Areas:
4 Seat Users Revenue 162,249
1801000
4 Net Operating Income
'
6 Rea: fimt Muni Areae 30 00
300,000
Total Revenue 1,487.363
1,573,103
1,17S.A546
expenses.
7 Opetatiny Expsasss 717,409
735,000
750,060
Net InCOtrle 769,954
$38,103
428,546
Proleetles Notes:
I CDT Revenuca will inen*te at 3% s year
1 Our Lugmt toe*" will ieteresse as we diversity our investawrru and a
aur year to date balance
inere w monthly.
3 Our parking mcnuc due to Hesfs departure.
4 Sat Users Charge is part of the Arenas Revenus wcording to the new SMG Mansgsrosnt
AgrmnM.
5 We ars not projecting s N O 1 for this yea duc to departure of ronpor legume from tM Amw
6 The rent revenue is diminished due to the new Ma apmeat Agreement.
7 Ibis attount reprentus our proposed buded for FY 2000/2001 itani&W an do next page.
ousow"00a001
01 -
Pays 16
526
MWY- 11-2001 ib.'49 CITY CLERKS lk= :CE
105 058 1610 P.20
MIAMI SPORTS AND EXHIBITION AUTHORITY
Board Approved Operating Budget*
FISCAL YEAR 2000-2001
vrtsnae
DESCRIPTION
2000/2001
190911000
(Do&wsse)
Budget
1ludpet
lncnrs•
I. COMPENSATION & BENEFITS
COMPENSATION AND BENEFITS
1 Executive Director & CEO
s5,00o
88,000
2 Flnence Director
se,0oa
54,450
3,550
3 Marketing Rep,
36,000
36,000
4 Admintstralive Asaisstant/Event Coordinator
33,000
33,000
Administrative Assistant
_
o.250
(30,250
211 000
204,700
6,300
PAYROLL TAXES AND BENEFITS
5 Group Insurance
26,981
16,450
10.537
6 SS/Medicar+e Contribution
19,039
18,493
Ors
7 Retirement Plan
1s Bao
18 377
503
TOTAL COMPENSATION & RENEFrM?73
990
255.940
17,850
II. ADMINISTRATION
B Bank Fee
1,000
1,000
8 Business Meeting Expensc:3
5,0013
5,000
10 Business (ravel
12,500
1c,oco
2,800
11 Car AllowaneWParkingWileage
6.000
3,000
2,000
12 Cullphone & lnlemet/Exec Director
2,000
2,000
13 Conference Registration
s,000
5 I=
14 Contingencies
51000
15,000
(10,000)
15 Courier/Delivery
1,600
1,13150
16 Event Sponsorship
10,000
10,000
17 Fire Assessment, etc.
6,000
6,060
18 General insurance
4,750
'4,750
18 Membershlps/Subscnplions
2,000
2,000
2.0 MetromoverTmxe3
3,850
(3,050)
21 Moving Expense
1,000
1,000
22 Office Equipment/MolntOnpnce
2,500
2,500
23 Office Supplies
3.000
3,0no
24 Postage
11000
1,000
25 Printing
10,000
10,000
26 Promotions/Marketing
250,000
250,000
27 Telephone
5,000
5,000
TOTAL ADMINISTRATIVE EXPENSES_
332,010
336,960
(9,35151
III. PROFUSIONAL SERVICES
28 Audit
70,000
20,000
29 Legal Support
$0,000
50,000
30 Professional Servicesllntem
10,000
5.500
4,400
1 Pr f ssinnal Servicea(other
6Q 0
50 .000
TOTAL PROFESSIONAL SERVICES
_ _ai
4,400
IV. CAPITAL EXPENDI LMES
32 OFFICF FOUMMENT PURCHASES
0
33 FURNITURE & FIXTUREIi
1,000
TOTAL CAPITAL EXPENDITURES _
1,00n)
TOTAL OPl~RATIN IJDQET
/0.000
MSEA Board of Dlroctom meeting of 0/2312000
Pape 18
m ydoobudget-2000,1301
01- 526
MqY-11-2001 15249 CITY CLERKS OFFICE 3ft 858 1510 P.21
NOTES TO PROPOSED BUDGET
1. Executive Director
Responsible for the overall administrative and operation of the Authority and its staff.
Subject to the policy directives of the Authority, the director shall have general
supervision over and be responsible for the operation and maintenance of all Authority
properties, activities, and facilities. The director shall attend all meetings, furnish
monthly reports with respect to the operation, maintenance and financial condition of the
Authority. Participates in SMG meetings and events to attain goals and objectives for
Miami Arena. Attends exhibitions, Conferences and seminars to expand the Authority's
event opportunities. The proposed salary is $85,000.
Y. PirSygf 9f E'
Responsible for monitoring General Funds, Project Funds, Debt Services, CDT
Distributions Schedule, and investments. Liaison with other governmental entities in all
matters pertaining to finances. Reviews Arena's Operating Budget and monitors Capital
Project requests. Coordinates annual budget preparation and cash flow analysis of the
Authority. Arranges for the annual audit conducted by independent auditing firms,
prepares responses to auditor's Report, and to the Auditor's General. Monitors local,
state and other economical activities with potential impact to the Authority's projects.
The proposed salary is $58,000.
3. Marketing Revresentativo
Marketing Representative coordinates all MSEA marketing and promotional activities in
connection with the Miami Arena and City related projects as designated by the
Executive Director. Duties involve research and interaction with conventions and
exhibitions that utilize the City of Miami facilities. Responsibilities also include
developing marketing plans, print collateral promotional materials, and initiating
correspondence with organizations or media to maximize awareness of opportunities as
well as benefits of holding events in Miami. Additional responsibilities will include,
creation of MSEA websites, flyers, and promotional materiels under the direction of the
Executive Director. The proposed salary is $35,000.
4. AdMinis rative Assistsul llrvegt Coordinator
Position provides direct administrative support to the Executive Director and handles day
to day general office tasks such as preparation of the Authority's monthly agenda
packages with minutes of all the meetings. Performs basic bookkeeping tasks and bank
reconciliation as designated by the CFO. Coordinates special city facility event projects
and meetings. Explores community calendar and event formats for potential MSEA
involvement. Develops and initiates MSEA dedicated activities with the Mimtni Arena,
Designs and organizes special projects as assigned by the Executive Director. 'The
proposed salary is $33,000.
Pose 17
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MAY -11-2001 1550 CITY CLERKS OFFICE • 305 858 1610 P.22
PAYROLL TAXES AND BENEFITS
The Premium payments totaling $26,981 are projected for the next fiscal year to provide
medical and dental coverage for full-time employees. The amount is incrcaaed from last
year's budget due to increase in number of employees.
6. SS/Medicame ContributiO
The FICA/ Medicare Contribution is 1.45 plus 6.20/9 of the total employee compensation
up to a ceiling of $60,600 per salaried employee. The proposed FICA/Madicare
contribution for 2000.2001 is increased by $772 to reflect the increase in total
compeunsadon.
7. Retirement Plan
The proposed budget includes an 8% of the total salary contribution per Authority
Employee. The anticipated contribution for 2000-01 is increased by $677 from last year's
budget.
ADMMISTRATION
S. B
This item is the result of our diversified investments and analysis charges by the bank.
9. Business Meeting x ses
The yearly expenditure for Business Meetiags is budgeted at 55,000. It includes
refreshments, meals, meeting announcements, name plates, and supplies for the meetings.
10. Business Travel
The proposed amount for out of town travel expenses is $12.500. This includes airfare,
hotel and meals for staff members who travel on behalf of the Authority in an effort to
explore and secure additional conventions for the city of Miami, and to keep abreast of
the ever changing business environment.
Anticipated yearly expenditure for Car Allowance is 55,000. This includes $5,000 yearly
car allowance for the Executive Director.
PW is
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MAY -ii -"i 15 50 C16 CLERKS OFFICE 305 850 1610 P.23
12. Cellphone &I I Exngnse
This line item refers to $2,000 expenses for Cellphone usage and Internet for the
Executive Director, payable in 26 pay periods.
13. Conference algistradon
The proposed budget amount of $5,000 includes fees for staff participation in local and
national meetings for Authority business, as well as enhanced education for professional
development. This line item remains unchanged from the last fiscal year.
14. Contingencies
The proposed budget amount of $5,000 includes miscellaneous costs associated with
Authority operations and unforeseca emergency expenses. This item is decreased by
$10.000 from last year's budget.
15. CQ ier elivery
The proposed budget amount is $1,600. The amount includes expenditures for local
courier service, hand delivered documents and emergency deliveries, as well as Federal
Express overnight deliveries. This line item is unchanged from last year's budget.
16. Event Sppnsorthip
The proposed budget amount of S 10,000 is scheduled to provide funding by the
Authority for the sponsorship of special events to meet the needs of the cornmuaity.
17. Firs ssessM2jUL
This is a new line item due to a new City required assessment fee for our warehouse and
parking properties.
I& Cron ralr� esu at nee
Premium payments of $4,750 are projected for the fiscal year to provide insurance
coverage for Authority operation. The insurance offers protection from Commercial
Crime, fire at commercial property, Commercial Liability, Commercial Umbrella
Liability for injury and Workers' Compensation.
19. &1�P/Su scriptioti
The proposed budget amount of $2,000 includes fees for membership in professional
planning and management organizations that provide the Authority with resource material
for projects and professional staff development, as well as subscriptions to local and
professional publications, and electronic bulletin boards. The budgeted amount for
membership/publications is unchanged from the previous year.
Page W
01— 526
MAY --11-2001 15:5a CITY CLERKS OFFICE
20. Metromov- IM
• 3M 658 1610 P.24
The line item refers to the Metromover tax of 53,850 for our warehouse and parking
properties. The Metromover tax had been established for three year's and we will
complete our contributions by September 2000. Therefore, we budgeted zero far this
fiscal year.
21. MoviD& ExIlense
This line item is unchanged from the previous year's budget of $1,000 to cover the cost of
relocation of our warehouse inventory.
The proposed budget amount is S 2,500 which includes minor costs associated with repair
and replacement of the tape recorder for meetings, faesimile machine, and copying
machine maintenance.
23. Office Suunlics
The proposed budget amount is 53,000 for all general office expenses such as stationary,
binders, water, coffee, staples, ribbon and cartridges. The amount projected is unchanged
from the previous fiscal year.
24. Po�ttaae
The proposed budget amount for postage is $1,000. This amount includes postage stamps
and FedEx for urgent deliveries.
25. Printing
The proposed budget amount of $10,000 which includes MSEA letterhead, business
cards, professional printing costs, anticipated flyers, brochures, and copies. The amount
budgeted is unchanged from the previous year's budget.
26. _Prornotions/Markel}n¢
The proposed budget amount of $250,000 is to provide futwins for MSEA special event
programs and promotions, public relations activities, bid proposals for events, MSEA
advertising in print and electronic media, and the creation of a Website for MSEA. This
lino item is unchanged form the previous yaar's budget.
POWs 20
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MAY-il-2001 1S?50 CITY CLERKS OFFICE 305 858 1610 P, 25
27. XeIggWo
The proposed budget amount of S $,000 includes all anticipated telephone wqx mes for
general office operations. The amotmt hss been unchanged $ora iaat year's budget .
The proposed budget amount of 520,000 Is to retain a national Certified Public
Accounting firm for the annual Authority audit and to provide assistance with internal
financial accountability. The budget amount is unchanged from the povious years'
budget.
29. Loral SIM=
The proposed budget amount of $50,000 is to provide legal support for the Authority.
30. Plpfessional Sgrvicg/Ingm
The proposed amount of $10,000 is to cover the cost of temporary assistance during the
audit or interns to support the department with clerical and project assistance.
31. Professional Services
This line item pays for additiocal temporary professional and administtstive assistan",
The budgeted amount is $50,000, which is unchanged from the last year's budget.
32. Office Fquinment Purchases
The proposed budget amount is $3,500 to cover the cost to acquire new software,
equipment purchase or replacement.
33. FuMitur+e & Fixture
The proposed budget amount of $10,000 is anticipated for the purchase of furniture and
fixtures at MSEA's executive offices. The amount shows it 51,000 decrease from last
year's budget
Put 21
TOTF4_ P.2;
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May 15 01 053110
0
• s
<<-'II!WtIOn at -a ority
P.
•
17
May 15, 2001
Honorable Mayor and Members ofthe
Miami City Commission
3500 Pan American Drive
Miami, FL 33133
Honorable Mayor and Members of the City Commission:
On behalf of the Miami Sports and Exhibition Authority, I would like to subunit our
Budget Amendment for Fiscal Year 2000-2001 for your consideration and approval. The
proposed Amendments reflect an increase of $200,000 in operating expanses as itemized
on the spreadsheet attached and the notes to our amendments.
On behalf of the entire board, I look forward to working with each of you to continue the
positive strides we have taken in making Miami a center of sports, conventions and
entertainment.
Sincere
James Je to
i::xecutiv rector
C: Members of the Miami Sports and Exhibition Authority
701 Arena Blvd.. M aft Florida 3313613051350.7861/Fox (3051350-7867 01— 526
tIRi7 OW&
naw to 01 05811p
� r � �•� �� f � ` l %�•�?��?' 1. �:4
Proposed Budget Amendment
Fiscal 2000-2001
Below please find notes on the proposed amendments. The sequeuttial nurrtbm refer to
the line item in the operating budget which requite an increase.
8. Bmk Fa
We will be utilizing the Banc in various investments to uptintim our interest camWg
within our investment policy. This will require some additional task for the bank and vm
tate amending this tine item with an additional S 1,000.
10. L3-usineas Travel
The proposed amount for out of town expenses was originally set at $12,S00. This included
airfare, hotel and meals for staff am. who traveled on behalf of the Authority in an effort to
explore and secure additional conventions for the city of Miami, and to keep abreast of the ever
ahaaging business environment. We are proposing an additional S7,SW to step up direct contact
efforts with promoters, event planners. producers and exhibitors.
13. Contittg
The amount of unanticipated and tion traditional expense that will not in within the line item
titles have to be increased by $5.000 as we are creating a ratio between planned activities,
improvements and tate budget total.
701 Arent Wd.. Wr . Florida 33136 (3061350.786)/Fcm (3D51350.7867
Ir . 3
01- 526
Mata 15 01 OS: t2p p.,t
The proposed budget amount of $10,000 is scheduled to provide funding by the Authority for the
sponsorship of special events to meet the needs of the community. We are proposing an
additional 530,000.00 to develop more business related and community focused events (i.e., lob
Fairs as well as Sports and Entertainment ball of Fame events). We will also focus on the
development of additional revenue generating events such as Latin Fan Fair, Trade and
Exhibition Receptions and so forth.
Premium payment of $4,750 was projected for the fiscal year to provide insurance coverage for
Authority operation. The insurance offers protection from Commercial Crime, fire at commercial
property, Commercial Liability, Commercial Umbrella Liability for injury and Workers'
Compensation. in response to the Board of Directors' concerns regarding personal liabilities for
MSEA directives, we are acquiring Directors Liability Insurance estimated at $25,000.
19. Miscellaneous Warehouse Expense
'Phis will include repair and replacement of the gate, vandalized fence, and some other
minor improvements at the warehouse.
23. Postaec
Due to increase in MSEA's marketing activities the postage will increase and we are
therefore required to amend the line item by $2,000.
25. Promotions/Marketing
The original budget amount of 5250,000 was to provide funding for MSEA special event
programs and promotions. This line item changed due to the Board directives to sponsor the
Orange Bowl Soutfest event scheduled for May 2001 and provide $150,000. In order to continue
developing revenue -generating programs such as Radio Disney Summer Break, The Miami
Sports Show, and other Events in Progress, we will amend the budget by $100,000.
28. j& SuRport
The proposed budget amount of $50,000 is to provide legal support for the Authority. Since
pending invoices are excooding the budget, we are proposing an increase of $30,000 to this line
item.
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