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HomeMy WebLinkAboutR-01-0949J-01-_1038 9/12/01 RESOLUTION NO.— A RESOLUTION OF THE MIAMI CITY COMMISSION, WITH ATTACHMENT(S), APPROVING AND ADOPTING THE MIAMI SPORTS AND FXHIR'I:TION AU'T'HORITY OPERATING BUDGET, IN '.PHE AMOUNT OF $1,000,000, FOR THE FISCAL YEAR COMMENCING OCTOBER 1., 2001, JkND ENDING SEPTEMBER 30, 1002, ATTACHED HERETO AND MADE A PART HEREOF. WHEREAS, Section 2-1020 of the Code of tho City of Miami, Florida, as amended, provides that the Miami Sports and Exhibition Autlhor. it:y ("MSEA11) e:s_-ablish a fiscal year which coinc-ides with Char of the City of Mi-arii and that t:he MSEA budget request- be submitted for approval by the City Commission; and WHEREAS, ori July 23, 2001, Lfie proposed budget: for. the Fiscal Year 2001.-2002 was reviewed and approved by MSEA; and WHEREAS, the proposed budget., attached hereto, identifies categories for compensation and bene:fit:s, administrative, professional and consultant services, and capital expenditures totaling $1,000,000; and WHEREAS, t -he categories reflected in the projected budget comply with the requi..red mandates which were established to facilitate the development of public: facilities necessary for the expansion and promot i.on of. prof essioria . and i.nte.r.nati.onal sports, A7• i lC {. a r; v is i•ia 4 i1 �7 jay pii r.y 1 n �fl iw ..� CITY COMMISSION, KEE TING, llusoluli�n N�. convention and exhibitlion related activities, and otther events which contribute ro 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, this proposed Fiscal Year 2001-2002 budges in the amount: of $1,000,000 represents a $50,000 inc,reaUe over that of Fiscal Year. 1900-2001; NOW, THEREFORR, BE IT RESOLVED BY TH:n: COMMISSION OF T:?E CITY OF MIAMI, FLORIDA: Sect-, .on 1. The, recinals and finding contained in Lhe Preamble to this Re. -solution are adopred by referejice there Go and incorporated herein as if fully set Forth in this Section. Section 2. ':Che Miami Sports and rxhibiLion Authority Operating Budget, in the amount of $1,000,000, for the F:i.scal Year. commencing October 1, 2001 and ending September 30, 2002, attached hereto and made a part hereon, is hereby approved and adopted. Page 2 of 3 Section 3. This Resolution shall become effective immediately upon its adoption and signature of the Mayor.1/ PASSED AND ADOPTED this 13th day of September 2001. J03 CAROL1,O, MAYOR sirico the NI-allQr Gild not indicate Rp,,m ; 0 Cit :,.,•.. i •i�r�rl i7�r f;l;'�'t:ilfa ;i if,il'•i•i ,.::; C'iii::al.` will" til(; . Itgardii it , :;ante, willlout Ulu ATTEST: WALTER J. POEMAIJ CITY CLERK oeoo APP RD A O 1'ORAi AND CORRiJC'1'P;ESS RWCTLARELLO CIT' ATTORNEY 847;BSS City Clork 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. Paqe 3 of 3 nUg 29 01 03:46p sports & exhibition authority Budget Fiscal Year Ending 9/30/2002 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861/Fax (305)350-78867 Aug 29 01 03:19p sports & exhibition authority Board of Directors Honorable Mayor Joe Carollo, Chairman Honorable Commissioner Johnny Winton, Vice -Chairman Eli Feinberg Diego Garcia Orlando Garcia Jr. Samuel W. Gentry Jorge Gonzalez Maritza Gutierrez Al Huston Marianne Salazar Honorable Commissioner Arthur E, Teele Jr. MSEA Committees Finance Committee Samuel W. Gentry Eli Feinberg Orlando Garcia Jr. ConygpaQn , mit, ee Diego Garcia Project Devel„oument Committee Al Huston Marianne Salazar ++MSBA Hoard of Directors mat on a monthly basis. The oommittees meet as fMuently as needed. 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fox (305) 350-7867 01-__949 P-5 Rvg 29 01 03:19p ZVI sports & exhibition authority James H. Jenkins Executive Director Ferey Kian Director of Finance Daisy J. Lewis Marketing Alliance Andrea de la Madriz Executive Assistant Bridgette Saleeby Accounting Clerk Tonya O'Neal Intern Secretary / Receptionist 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867 �.) A 4 t� 1) p-6 Aug 29 01 03:19P From Date • V4444 Vc- sports & exhibition authority Honorable Mayor and the Board of Directors James Jenkins Executive Director August 29, 2001 Re: Miami Sports and Exhibition Authority Fiscal Year 2001-2002 Proposed Operating Budget RECOMMENDATION It's respectfully requested that the Board of Directors approve the budget for Fiscal Year 2001.2002 reviewed by the Finance Committee in the July 13`" meeting. At%CGGROUND 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, 701 Arena Blvd.. Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867 949 P--7 Rot 29 01 03:20p sports & exhibition authority Goals and Objectives To continue establishing the Miami Arena as a viable entertainment product by developing and pursuing more family entertainment products, concerts and multicultural events. v To become more actively involved with the management team in attracting multicultural artists and performers to the Miami Arena. To become more proactive in marketing the Miami Arena and the MSEA organization. To identify, research and propose a new Arena management concept for abandoned or underdeveloped City properties for MSEA generated revenue opportunities. y To continue the pursuit of both professional and amateur sporting events for the Miami Arena and City facilities. To participate in the City of Miami synergistic efforts to combine departmental agency resources for the economic and social growth of the City. > To participate in the creative design and implementation planning process for the MSEA website and links to the Miami Arena and the City sites. y To work with the Miami Arena marketing team to refine new sponsorship, branding, and advertising programs for FY 2002. 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867 p.8 9 49 Aug 29 01 03:20p p.9 To position the City of Miami as a showplace for international and domestic programs, exhibitions and events by partnering with organization(s) in the creation, development and implementation of these of forts. To develop a community interactive free community Holiday program that will become a tradition and embraced by the City. r To design an entertainment platform to establish MSEA as a new force in the City of Miami. ig 29 -O 1 03:21p - p.14- -- • sports & exhibition authority Miami Sports and Exhibition Authority Project Development Committee 1. Objective -To research and review, as well as provide a recommendation on future projects that fit MSEA's goals and mission for development, management or community growth. The Committee will also be responsible for outlining the next step procedures as well as MSEA's primary role to the full Board for continued progress with each project. Procedure Each project will be presented to the Chairman by the MSEA Executive Director for discussion before the session is called. Afterward, MSEA will schedule a meeting to discuss the information, which will be presented or forwarded for review, The meeting with a quorum will be called on the morning of a regularly scheduled Board meeting. 2. Committee Total of Five (5) Conunittee Chairman —.Mr. Al Huston Committee Vice -Chairman — Ms. Marianne Salazar Committee Member — Mr. Jorge Gonzalez (new appointee) Recommended field of expertise: Real Estate, Architectural Firms, Independent Business Owners, Hospitality, Tourism, Entertainment Industry etc. 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fox (305) 350-7867 01- 949 ug2J 01--a33-2-2p • 41. do sports & exhibition authority Miami Sports and Exhibition Authority Finance Committee 1. Objective -To provide a recommended cost analysis of specific financial matters, which relate to the expenditures or income of the Miami Sports & Exhibition Authority. The Committee will then decide the appropriate procedural action to be presented to the full Board of Directors. Procedure - Each financial item will be presented to the Chairman by the MSF.A Executive Director for discussion before the session is called. Then MSEA will schedule the meeting. The meeting with a quorum will be called on the morning of a regularly scheduled Board meeting. 2. Committee Total of Five (5) Committee Chairman — Mr. Samuel W. Gentry Committee Vice -Chairman — Mr. Eli Feinberg Committee Member — Mr. Orlando Garcia Jr. Recommended field of expertise: Banking, Accounting, Investment Broker, Corporate Finance, Finance Instructors, Comptroilers,'etc. 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fox (305) 350.7867 0 AJC 29 01 03:22p • sports & exhibition authority Miami Sports and Exhibition Authority Convention and Exhibition Committee Objective -To research and secure conventions as well as exhibitions which will utilize the City's infrastructure, hotels and facilities. To review, as well as provide a recommendation on future projects that fit the MSEA mission for creative development, community financial impact, city awareness, multi-year options and ownership. To explore Latin America and Caribbean markets for value added opportunities while partnering with GMCVB and other city organizations. The Committee will also be responsible for outlining the next step procedures to the full Board for continued progress with each new project. Procedure -Each project will be presented to the Chairman by the MSEA Executive Director for discussion before the session is tailed. Afterward, MSEA will schedule a meeting to discuss the information, which will be presented or forwarded for review. The meeting with a quorum will be called on the morning of a regularly scheduled Board meeting. 2. Committee Total of Five (5) Committee Chairman — Mr. Carlos Martel (replace). Committee Chairman — Recommendation — Mr. Diego Garcia Committee Vice -Chairman — Mrs. Maritza Gutierrez (new appointee) Committee Member — Mr. Arthur Teele Jr. (new appointee) Recommended field of expertise: Hospitality, Tourism, Sales, Meeting Planners, Travel Industry, GMCVH or Chamber Members, Cruise Line etc. 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867 P. Is 01 1949 Rug 29 01 Q3:22P • FINANCL4kL SUMMARY 1992 Special Obligation Refunding Bonds The 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 409 9509000 1992 B Bond 7, 7253Q00 Total 92 Bonds 5 489 6759000 The Series 1992 A Bond matures in an annual rates increments range of $650,000 beginning in 1994 to -$2,91 0,000 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 -defined schedule of monthly payments. For instance, the CDT Rcvenuc for 1999-00 amounted to approximately $9,685,000 that satisfied the following accounts: • Principal payment for Bonds $ 1,516,000 • interest payment for Bonds 2,403,000 • Capital Reserve and Operating Deficit Fund (1) 1,300,000 • Management fee for the Trustee 15,000 • MSEA(2) 846,000 Retumed to County(3) 3,603,000 1) According to predefined schedule, known as Exhibit B, the bond requirement for CR & OD for the FY 20002001 is $1,300,000. This exhibit B alone is the major determinant factor on the amount returned to the County. 2) MSEA's share increases by 3% each year, therefore our budget reflects $899,753 for 2001/2002. 3) Once the pre -defined schedule above is satisfied. the remainder of the CDT funds is retuned to the County according to the 1992 Bonds indenture *The Principal balance on the 92 Bonds as of September 30, 2001 is projected as $36,395,000 p - 49 U9 28 01 03e23p Is •--ice- - sports & exhibition authority Funds and Accounts Account Tide Account Number Balance General Funds. Money Market 189008505853 6,580,362.00 Operating Account 1890011173154 38,350.00 Payroll Account 189001135512 28,292.00 Art in Public Places 189001150252 849,115,00 Capital Project Funds: Capital Reserve a Operating Deficit e75a504 2,478,890.00 Custodial Account 6700392 - Debt Service Funds: 92 A & 8 Principal Fund 6757120 1,403,225.00 92 A & 0 Interest Fund 6763002 811,038.00 General Fund 6763003 3,993,345.00 92 A & 9 Expense Fund 6763004 27,057.00 t .l • SOURCES AND USES OF FUNDS I. SOURCES OF FUNDS: a) CDT, This year, the Authority's principal source of revenue is the CDT. This amount for FY 2001 was $873,546 and since according to the 1990 cnunry resolution, it will raise 3% each year, the budget amount for the FY 2002 will be S 899,753 as detailed on Page 9.1 of this booklet. h) Interest Income. The yearly savings from operatinB under budget rolls forward and accumulates within years. Total of these under budget savings for the past five years has resulted in $6,000,000 savings that are rept in our Money Market, CCNiA, short and medium term investments. The result of these investments for the Fiscal Year 20002001 has given us a projected 5320,000 in interest income.- more than 1/3 of our CDT receipt for operation (320,000 /873.546). c) ParkMP Revenue Currently we own a ParWg Lot at 601 N. Miami Avenue that generates nominal revenue of 510,000 per actual numbers of FY 2001. Funds Classification: MSEA has established three Funds based on the 1992 Bond Requirements. A)__ General Fund This Fund is subsidized by the revenue sources described in the spreadsheet above. As we have operated efficiently, we have generated profits that over the years that have been maintained in our Money Market Account. This Fund is the source of 3 Accounts, balance oreach as of 7/302001 is shown below. Also note that as part of our Construction Agreement in 1988, $800,000 was designated for Art in Public Places the account balance for this fund is incorporated as Restricted Fund within Gencrul Fund as reflected here. Account Tide Balance Purpose 1. Payroll Account (NR) $28,292 Administrative Exp. Il. Operating Account (NR) $38,350 Operating Expenses I11. Money Market Account (PR) $6,580,362 As earmarked in accompanying Capital and Project Summary. IV. Art in Public Place (K) $ 846,678 *To create artful improvements with -in, and with -out the Arena o i.._ 949 Aug 29 01 03:23p 0 Capital Investments and Project Developments Budget Summary p.20 As outlined below. MSEA Committees have reviewed, discussed and recommended several projects for serious consideration. These projects have not been assigned any specific amount In General Fund, as they will be detailed once the projects are approved by the board. The lump sum budget of Capital Investment above, for example, is earmarked for our future role in several projects that may rive up tows MSEA projects. The amount will then be broken to different subheading at shown in our Operating Gadget. The detail usage of the General Fund falls within the ramification outlined in the indenture and are in accordance with general use of CDT funds. Per definition, MSEA's legal use of the funds arc generally determined on activities that either fall under MSEA's controlled or managed facilities. or capital expendintres for MSEA's properties. Some of these considerations are in lieu of the Excess CDT being Returned to the County while MSEA can justifiably undertake these projects that will benefit both City and County Balance on tate General Fund Account a) Capital Investments 4D 1) Watson Island Project 2) Marine Stadium 3) Melreese Golf Course 4) Tower Theatre 5) Orange Bowl b) Project Development(2) 0 c) Conventions & Exhibitions $6,580,362 $4.000.000 "To embark on projects in accordance with criteria outlined in 9213ond Resoludon $2,000,000 • To develop projects Ttuu further MSEA mission within criteria outlined in the 92 Bonds indenture. S 580,362 " To create and sponsor Conventions and exhibition to utilize City taciihies. Aug 29 01 03:24p p.21 8) DetServlet Feed ®: This Fund was established by the Bond Indenture to subsidize the following Accounts. The title and balance of each account as of 6/30/2001 are as follows: I. interest Fund S 613,828 *To pay 92 Bonds interest It. Principal Fund S 1,262,415 *To pay 92 Bond Principat Ill. Expense Fuad S 25,817 'To pay Tnistee Fee Exp. C) Capital Project and Operating Deficit ® $ 2,645,949 'To pay for Capital Improvements, and Operational Deficit at the Arena. USES of FUNDS: Of the Three Funds above, General Fund subsidizes the Authority's Operating Expenses, which once approved by the Board is sent before the Cottunissioners for their approval. The Operating Budget presented in this package show the Projected income of S 1,209.753 and the Operating Expenses of $ 1,000,000 as detailed in the next two pages. The Authority's general us© of Funds are around 20% bellow the projected Revenues (This year we project $209,753 excess of revenues over expenditures). *R after the Fund means the fund has a RESTRICTED use; N stands for NON -RESTRICTED, and P is for PARTIAL .� restriction. Aug 29 01 03:25P - — P.22 -- Miami Sports and Exhibition Authority Income Projection 99 2000 2001 2002 Actual Actual Projection Projection Revenues: 1 ICDT 823,401 848,103 873,546 899,753 2 Interest Income 185,186 230,000 300,000 300,000 3 Parking Lot/Warehouse 16,527 15,000 10,000 10,000 Arena: 4 Seat Users Revenue 162,249 180,000 - - 5 Net Operating Income - - 6 Rent from Miami Arena 300,000 300,000 Total Revenue 1,487,363 1,573,103 10183,546 1,209,753 Expenses: 7 Operating Expenses 717,409 735,000 950,000 1,000,000 Net Income 769,954 838,103 233,546 2099753 Projection Notes: I CDT Revenues will increase at 3% a year 2 Our Interest Income has been budgeted the same, although as we embark on Capital Investments, we will be reducing our cash in bank and thus our Interest Income. 3 The Parking revenue is projected to remain at the same level as previous year. 4 Seat Users Charge is part of the Arena's Revenue according to the new SMG Management Agreement. 5 We are not projecting income from the Arena due to renewed positioning of the SMG in the marketplace . 6 MSEA is not c9liecting rent from the Arena according to the SMG Agreement. 7 This amount represents our proposed Operating Budget for FY 2001/2002 itemized on the next page. ut p P••23 I MIAMI SPORTS AND EXHIBITION AUTHORITY Proposed Budget FISCAL YEAR 2002 Amended Proposed VwUnce DESCRIPTION 2001 2002 rneroeso Budget • Budget (Gorrease) I. Payroll, Taxes and Benerits COMPENSATION AND BENEFITS 1 Executive Director & CEO 85,000 90,100 41100 2 Finance Director 68,000 82,350 4,330 3 Marketing Alliance, Event Coordinator. 36,000 36,000 4,000 4 Executive Asslstent/Communicatiion Coordinator 26,500 26,500, 5 AdministrativelsookkeC r•Part time 24,000. 20,000 4.000 202,000 231,960 1 75,850 6 Group insurance 26,630 33,500 i 7.970 7 85/,Medicare Contribution 18,270 21,714 3,444 8 Rettrement plan 16,300 19,035 2,738 TOTAL COMPENSATION & BENEFITS JQ2,1P0 3tZ 200 50,000 ll. "rating Expenses 4 Sank Fee 2,500 2,500 10 Bus?ness Meeting Expenses 61000 5,000 11 Business Travel 10,000 20,000 12 Car Allowance/Cellphone, Mileage 7,000 7,000 13 --Conference Registration 7,00 7,000 14 Contingencies 10,000 10.000 15 Courier/Delivery 3,800 3,800 16 Event Sponsorship 40,000 40,000 17 General Insurance & Directors Liability Insurance 264000 30,000 5.000 18 Memberships/Subscriptions 4,000 4,000 10 Miscellaneous Warehouse Expenses 6,000 6,000 20 Office Equipment/Maintenance 3,600 3,500 - 21 Office Supplies 5,000 51000 22 Postage 4,000 4.000 23 Printing 10,000 10,000 24 Promotions/Marketing 360,000 250,000 (100,000) 25 Telephone 51000 1 10,000 5.000 TOTAL EIRATINO EXPENSES 607,800 (90,000) Ill. PROFESSIONAL SERVICES 28 Audit 20,000 70,000 27 Legal Support #0,00050,000 (30.000) 28 Professional Services( Temp 10,000 30,000 20,000 29 Professional ervl s! ro'ects 60 0 00 160.000 too. TOTAL PROFESSIONAL SERVICES 11,00100 360,000 00,000 /V. CAPITAL EXPENDITURES 30 OFFICE EQUIPMENT PURCHASES 10,000 10,000 31 FURNI RE & FIXTURES 10 000 /0. TOTAL CAPITAL EXPENDITURES 20 000 20,00 TOTAL OPERATING 13 ET 95 ,0 1.003.000j 50,1700 mydoobudg9t•2001102 e C Rug 29 01 03: PAYROLL, TAXES, AND BENEFITS 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. 2. Director of_Finace 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 Capital Project requests. Reviews annual budget preparation and cash flow analysis of the Arena and the Authority. Arranges for the annual audit conducted by independent auditing firms, prepares responses to Auditor's Report, and to the Florida Auditor's General. Monitors local, state and other economical activities with potential impact to the Authority's projects. 3. Marketine Renresentative Marketing Representative coordinates MSEA marketing and promotional activities in connection with the Miami Arena and City related. 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 increase promoters' awareness of benefits of holding their events in Miami. 4. Exgcutive Assistant 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. Explores community calendar and event formats for potential MSEA involvement. Liaison with activities h^ld at the Miami Arena. Designs and updates MSEA website and ensures our internet presence. S. AftlaistrativeMookkeener The Part Time position which replaces a portion of last year's Professional Services expense, as well as last year's Secretary's position. it provides direct support to the Finance Director in all matters pertaining to the internal financial operation of the Authority. All general accounting and bookkeeping functions relating to internal operation such as Accounts Receivable/Payable, Barsk Reconciliation, maintenance of General Journal and Lodgers are among the responsibilities of this position, p.24 Rut es 0l 03:47p • • 57 sports & exhibition authority August 29, 2001 Honorable Mayor and Members of the. Miami City Commission 3500 Pan American Drive Miami, FL 31133 Honorable Mayor and Members of the City Commission: Enclosed, please find the proposed operating budget for the Miami Sports and Exhibition Authority for 2001-2002. 1 am pleased to inform you that the proposed budget reflects $1,209,753 in revenues and a Net Operating Income to MSEA in the amount of $209,753. There is one significant change to the proposed operating expenses from the previous fiscal year. 'rhe first is that I propose $50,000 under Professional Services to develop research and planning for future MSEA management opportunities focusing on City underdeveloped properties as revenue streams. As we begin the new fiscal year, we will also seek interns at a much lower cost white we increase our exploratory programs into new revenue generating opportunities for MSEA and reenergize community awareness of our organization. 'V','e are in the planning; stages of developing our second annual traditional holiday program for the local community to support our positioning as the people's choice for family entertainment in Miami. We will continue to embrace our family programs in the Miami Arena such as Disney On Ice and Ringling Bros. Barnum and Bailey Circus, while complimenting them with new Latin, Urban and Rock concerts in the industry. As we welcome back the University of Miami Basketball Team, our 2001-2002 sports programs will continue to be somewhat limited. However, the Miami Arena with inure direction from MSEA, will reposition itself to approach World Championship Wrestling, Boxing, both professional and collegiate as generating products to the Miami Arena. In 2001, MSEA was instrumental in bringing new revenue such as Wendy's television commercials, Soulbeach Music Fest and the rehearsal of the group U2. In 2002, we will continue to step up our efforts by participating in citywide entertainment opportunities, exploring partnerships with the Greater Miami Convention and Visitors Bureau, and partner with organizations to bring world class entertainment or sporting 701 Arena Blvd., Miami, Florida 33136 (305) 360-7661 /Fax (305) 350-7867 c�i-- 949 nug 29 01 03:47p . • August 29, 2001 Honorable Mayor and Member of the City Commission Page 2 opportunities to the City of Miami. MSEA will also expand its role by exploring and researching specific City properties for future management opportunities in line with our mission. MSEA will evaluate these opportunities for future revenue streams for the City of Miami as well as MSEA, with the focus on tourism from domestic and international markets. As we go forth with our 2002 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, James Jenkins Executive Director & CEO Cc: Members of the Miami Sports and Exhibition Authority p.4 til- 949 Rug 29 D1 03:48p • P. LGLlZLL sports & exhibition authority - Budget Fiscal Year Ending 9/30/2002 701 Arena Blvd,, Miami, Florida 33136 (305) 350-7861/Fax (305) 350-78cb7 i — 9119 nuc 29 01 03:19p i • sports & exhibition authority Board of Directors Honorable Mayor Joe Carollo, Chairman Honorable Commissioner Johnny Winton, Vice -Chairman Eli Feinberg Diego Garcia Orlando Garcia Jr. Samuel W. Gentry Jorge Gonzalez Maritza Gutierrez Al Huston Marianne Salazar Honorable Commissioner Arthur E. Teele Jr. MSEA Committees Finance Committee Samuel W. Gentry Eli Feinberg Orlando Garcia Jr. Convention Committee Diego Garcia Project ftel�oamgot Committee Al Huston Marianne Salazar •"MSEA Board of Directors meet on a monthly basis. 'Che committees mac as frequendy as needed. 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861/Fax (305) 350-78670 1 p.5 HuC 29 01 03:19p • p.6 • ZVI sports & exhibition authority James H. Jenkins Executive Director Ferey Kian Director of Finance Daisy J. Lewis Marketing Alliance Andrea de la Madriz Executive Assistant Bridgette Saleeby Accounting Clerk Tonya O'Neal Intern Secretary / Receptionist 701 Arena Blvd.. Miami, Florida 33136 (305) 360-7861 /Fax (305) 350-7867 U _ 949 Rug 29 OS 03:19P • • p, 7 sports & exhibition authority To: Honorable Mayor and the Board of Directors From: James Jenkins Executive Director Date. August 29; 2001 Re: Miami Sports and Exhibition Authority Fiscal Year 2001-2002 Proposed Operating Budget RECOMMENI)ATION It's respectfully requested that the Board of Directors approve the budget for Fiscal Year 2001-2002 reviewed by the Finance Committee in the July 130' meeting. BACKGROUND The Manu 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, 701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867 Ruff 29 01 03!20P • • sports & exhibition authority Goals and Obiectives �► To continue establishing the Miami Arena as a viable entertainment product by developing and pursuing more family entertainment products, concerts and multicultural events. y To become more actively involved with the management team in attracting multicultural artists and performers to the Miami Arena. To become more proactive in marketing the Miami Arena and the MSEA organization. To identify, research and propose a new Arena management concept for abandoned or underdeveloped City properties for MSEA generated revenue opportunities. y To continue the pursuit of both professional and amateur sporting events for the Miami Arena and City facilities. io To participate in the City of Miami synergistic efforts to combine departmental agency resources for the economic and social growth of the City. y To participate in the creative design and implementation planning process for the MSEA website and links to the Miami Arena and the City sites. To work with the Miami Arena marketing team to refine new sponsorship, branding, and advertising programs for IT Y 2002. P. a 701 Arena Blvd., Miami, Florida 33T36(305) 350-7861 /Fax (305) 350-7867 01. — .110 4 19 Rug 29 01 03:20p 0 • p.9 > To position the City of Miami as a showplace for international and domestic programs, exhibitions and events by partnering with organization(s) in the creation, development and implementation of these efforts. r To develop a community interactive free community Holiday program that will become a tradition and embraced by the City. z To design an entertainment platform to establish MSEA as a new force in the City of Miami: u1 949 Aug 29 01 03s20p . • P.10 sports & exhibition authority To: Honorable Mayor and Members of the City Commission From: James Jenkins Executive Director Date: August 29, 2001 Re Miami Sports and Exhibition Authority Fiscal Year 2001-2002 Proposed Operating Budget IR_C_.OMMENDATION It is respectfully requested that the City Commission adopt the attached resolution approving the Fiscal Year 2001-2002 Proposed Miami Sports and Exhibition Authority Administrative Budget pursuant to Section 52.6-10 of the City Ordinance. BAS'KSRa1. The Miami Sports and Exhibition Authority administrative 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 Administrative Budget and b) that the Authority establish a fiscal year coinciding with that of the City of Miami. 7011 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fox (305) 350-7867 iii 949 Rut 29 01 03:21p • August 29, 2001 Honorable Mayor and Members of the City Commission Page 2 0 p.11 At its Finance Committee meeting on July 13, 2001, the Marni Sports and Exhibition Authority adopted a Proposed Fiscal Year 2001-2002 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 prepare a statement of current and year to date expenditures in comparison to budget, In addition, a national accounting firm will be retained to pro,6de complete fiscal year 2001-2002 audit pursuant to section 52.6-11 of the Miami Sports and Exhibition Authority Ordinance. The fiscal year 2001-2002 budget has been increased by $50,000. The increase is due to our present objectives to increase research and planning efforts related to specific City owned property for future management and property development as a new MSEA revenue source. The accompanying notes to the proposed budget more fully explain all line changes and their respective impact on the budget. Ahhough 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 Conunission approval if future administrative or operational needs require. 01- 941.1