HomeMy WebLinkAboutR-00-0805J-00-792
8/30/00
RESOLUTION NO. —�'t
A RESOLUTION OF THE MIAMI CITY COMMISSION,
WITH ATTACHMENT(S), APPROVING AND ADOPTING
THE MIAMI SPORTS AND EXHIBITION AUTHORITY
OPERATING BUDGET, IN THE AMOUNT OF $750,000,
FOR THE FISCAL YEAR COMMENCING OCTOBER 1,
2000 AND ENDING SEPTEMBER 30, 2001, ATTACHED
HERETO AND 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,
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
TTA C?
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CITY COMMSSION
MEETING OF
SEP 14 2000
j6=1utwu No.
8 . .
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, 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.
Section 2. The Miami Sports and Exhibition Authority
Operating Budget, in the amount of $750,000, 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 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.
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PASSED AND ADOPTED this 14th day of September 2000.
JOE CAROLLO, MAYOR
In accordance with Miami Code Sec. 2-36, since tho Mayor did not Indicatoap, revel of
tbis legislation by signing it in the do.aignated place provided, seWd Iag)@kali- 1, niow
'=n,�es effective with the elapse often (10) days m the date of Commisslei;0i n
reqa;da% same,. without the Mayor q)@rc Jon
ATTEST:
WALTER J. FOEMAN
CITY CLERK-,�
APPR9V/EQPte` TQ FORM a,�)CORRECTNESS-.'V
NDRC'VILARELLO
ATTORNEY
4676:BSS
Walter JlFoeoffOCitv Clerk
,
C ,
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701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fox (305) 350-7867
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TABLE OF CONTENTS
Letterfrom the Executive Director...............................................................1
MSEA Board of Directors and Committees ................................................ 3
MSEAStaff..................................................................................................... 4
Memorandumto Board of Directors............................................................ 5
Organizationand its Mission........................................................................ 7
Goalsand Objectives..................................................................................... 8
TransmittalMemorandum............................................................................ 9
ProposedResolution.................................................................................... 11
FinancialSummary...................................................................................... 13
Fundsand Accounts.....................................................................................14
IncomeProjection..........................................................................................15
ProposedBudget............................................................................................16
BudgetNotes..................................................................................................17
00- 805
701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867
August 28, 2000
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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. I am pleased to inform you that the
proposed budget reflects
$ 1,183,546 in revenues and a Net Operating Income to MSEA 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 $ 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 Ice and Barney, while complimenting them with some of
the best concerts in the industry.
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701 Arena Blvd„ Miami, Florida 33136 (305) 350-7861/Fax (305) 350-7867 r
August 28, 2000
Honorable Mayor and Members of the City Commission
Page 2
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,
James J
Executive Director & CEO
Cc: Members of the Miami Sports and Exhibition Authority
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Board of Directors.
Honorable Mayor Joe Carollo, Chairman
Honorable Commissioner Johnny Winton, Vice -Chair
Finance Committee
Eli Feinberg
Orlando Garcia, Jr.
Steve Marin
Eli Feinberg
Diego Garcia
Orlando Garcia, Jr.
Sam Gentry
Al Huston
Steve Marin
Carlos Martel
Larry Pierre
Marianne Salazar
MSEA Committees
Convention Committee
Orlando Garcia, Jr.
Steve Marin
MSEA Board of Directors meet on a monthly basis. The committees meet as frequently as needed.
00-- 805
701 Arena Blvd., Miami, Florida 33136 (305) 350-786,1/Fax (305) 350-7867
fir)
James H. Jenkins
Executive Director
Ferey Kian
9
Director of Finance
Marketing Representative
Frances Paez
Administrative Assistant/
Event Coordinator
00- 805
701 Arena Blvd., Miami, Florida 33136 (305) 350-7861/Fax (305) 350-7867
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To: Honorable Mayor and
the Board of Directors
From: James Jenkin
Executive D r
Date: August 23, 2000
Re: Miami Sports and Exhibition Authority Fiscal Year 2000-01
Proposed Administrative Budget
RECOMMENDATION
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.
BACKGROUND
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.
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701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867 r�
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 prepare a statement of current
and year to date expenditures in comparison to budget. In addition, a
national accounting firm 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.
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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.
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MOM
To: Honorable Mayor and
Members of the City Commission
From: C6( James H. Jenkins / JXC_—
Executive Director
Date: August 28, 2000
Re: Miami Sports and Exhibition Authority Fiscal Year 2000-2001
Proposed Operating Budget
RECOMMENDATION
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.
BACKGROUND
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.
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701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867
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. Thisbudget 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 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 $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
administrative or operational needs require.
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8/25/2000
RESOLUTION NO.
A RESOLUTION, WITH ATTACHMENT, APPROVING THE MIAMI
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 $ 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.
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Section 2. The Miami Sports and Exhibition Authority Proposed Operating Budget
for Fiscal Year 2000-2001, attached hereto and incorporated herein, is hereby approved.
Section 3. This Resolution shall become effective immediately upon its adoption and
signature of the Mayor.
PASSED AND ADOPTED this day of 32000.
JOE CAROLLO, MAYOR
ATTEST:
WALTER J. FOEMAN
CITY CLERK
APPROVED AS TO FORM AND CORRECTNESS;
ALEJANDRO VILARELLO
CITY ATTORNEY
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MIAMI SPORTS AND EXHIBITION AUTHORITY
Financial 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
1992 B Bond
Total 92 Bonds
$ 409 9505000
7,725,000
$ 489 6759000
The Series 1992 A Bonds mature 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 -defined schedule of
monthly payments. For instance, the CDT Revenue for 1998-99 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
• MSEA(2) 823,000
Returned to County(3) 407,000
1) According to predefined schedule, Exhibit B, 1992 Bonds, for the FY 2000/2001 CR & OD is $1,300,000.
2) MSEA's share increases by 3% each year, therefore our budget reflects $873,546 for 2000/2001.
3) Once the pre -defined schedule is satisfied the remainder of the CDT funds will be returned to the County according to
recommendation of County Administration of March 6, 1990.
*The Principal balance on the 92 Bonds as of September 30, 2000 is projected as $38, 040,000
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Miami Sports and Exhibition Authority
Funds and Accounts
Acct. No.
General Funds:
189008505853
189001117384
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
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Miami Sports and Exhibition Authority
Income Projection
98/99
99/2000
2000/2001
Actual
Project/Actual
Projection
Revenues:
I CDT 823,401
848,103
873,546
2 Interest Income 185,186
230,000
300,000
3 Parking Lot/Warehouse 16,527
15,000
5,000
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
1,178,546
Expenses:
7 Operating Expenses 717,409
735,000
750,000
Net Income 769,954
838,103
428,546
Projection Notes:
1 CDT Revenues will increase at 3% a year
2 Our Interest Income will increase as we diversify our investments and as our year to date balance
increases monthly.
3 Our Parking revenue due to Heat's departure.
4 Seat Users Charge is part of the Arena's Revenue according to the new SMG Management
Agreement.
5 We are not projecting a N 0 I for this year due to departure of major leagues from the Arena.
6 The rent revenue is diminished due to the new Management Agreement.
7 This amount represents our proposed budget for FY 2000/2001 itemized on the next page.
Budget 2000/2001
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MIAMI SPORTS AND EXHIBITION AUTHORITY
Board Approved Operating Budget*
FISCAL YEAR 2000-2001
Variance
DESCRIPTION
2000/2001
1999/2000
(Decrease)
Budget
Budget
Increase
I. COMPENSATION & BENEFITS
COMPENSATION AND BENEFITS
1 Executive Director & CEO
85,000
85,000
-
2 Finance Director
58,000
54,450
3,550
3 Marketing Rep.
35,000
35,000
4 Administrative Assistant/Event Coordinator
33,000
33,000
Administrative Assistant
-
30,250
30,250)
211,000
204,700
6,300
PAYROLL TAXES AND BENEFITS
-
5 Group Insurance
26,981
16,450
10,531
6 SS/Medicare Contribution
19,029
18,413
616
7 Retirement Plan
16,880
16,377
503
TOTAL COMPENSATION & BENEFITS
273,890
255,940
17,950
II. ADMINISTRATION
-
8 Bank Fee
1,000
1,000
9 Business Meeting Expenses
5,000
5,000
-
10 Business Travel
12,500
10,000
2,500
11 Car Allowance/Parking/Mileage
5,000
3,000
2,000
12 Cellphone & Internet/Exec Director
2,000
-
2,000
13 Conference Registration
5,000
5,000
-
14 Contingencies
5,000
15,000
(10,000)
15 Courier/Delivery
1,800
1,800
-
16 Event Sponsorship
10,000
10,000
-
17 Fire Assessment, etc.
6,060
6,060
-
18 General Insurance
4,750
4,750
-
19 Memberships/Subscriptions
2,000
2,000
-
20 Metromover Taxes
3,850
(3,850)
21 Moving Expense
1,000
1,000
-
22 Office Equipment/Maintenance
2,500
2,500
-
23 Office Supplies
3,000
3,000
-
24 Postage
1,000
1,000
25 Printing
10,000
10,000
-
26 Promotions/Marketing
250,000
250,000
-
27 Telephone
5,000
5,000
-
TOTAL ADMINISTRATIVE EXPENSES
332,610
338,960
11 (6,350)
III. PROFESSIONAL SERVICES
28 Audit
20,000
20,000
-
29 Legal Support
50,000
50,000
-
30 Professional Services/Intern
10,000
5,600
4,400
31 Professional Services/other
50,000
50,000
-
TOTAL PROFESSIONAL SERVICES
130,0001
125,600
4,400
IV. CAPITAL EXPENDITURES
-
32 OFFICE EQUIPMENT PURCHASES
3,500
3,500
-
33 FURNITURE & FIXTURES
10,000
11,000
1,000
TOTAL CAPITAL EXPENDITURES
13,500
14,500
(1,000)
TOTAL OPERATING BUDGET
750,000
735,000
15,000
* MSEA Board of Directors meeting of 812312000
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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.
2. Director of Finance
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 Representative
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 materials under the direction of the
Executive Director. The proposed salary is $35,000.
4. Administrative Assistant/Event 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 Miami Arena.
Designs and organizes special projects as assigned by the Executive Director. The
proposed salary is $33,000.
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PAYROLL TAXES AND BENEFITS
5. Group Insurance
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 increased from last
year's budget due to increase in number of employees.
6. SS/Medicare Contribution
The FICA/ Medicare Contribution is 1.45 plus 6.2% of the total employee compensation
up to a ceiling of $60,600 per salaried employee. The proposed FICA/Medicare
contribution for 2000-2001 is increased by $772 to reflect the increase in total
compensation.
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.
ADMINISTRATION
8. Bank Fee.
This item is the result of our diversified investments and analysis charges by the bank.
9. Business Meeting_ Expenses
The yearly expenditure for Business Meetings is budgeted at $5,000. 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.
11. Car Allowance/Parking Fees/Mileage
Anticipated yearly expenditure for Car Allowance is $5,000. This includes $5,000 yearly
car allowance for the Executive Director.
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12. Cellphone & Internet Expense
This line item refers to $2,000 expenses for Cellphone usage and Internet for the
Executive Director, payable in 26 pay periods.
13. Conference Registration
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 unforeseen emergency expenses. This item is decreased by
$10,000 from last year's budget.
15. Courier/Delivery
The proposed budget amount is $1,800. 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 Sponsorship
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.
17. Fire Assessments.
This is a new line item due to a new City required assessment fee for our warehouse and
parking properties. .
18. General Insurance
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. Membership/Subscription
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.
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20. Metromover Tax
The line item refers to the Metromover tax of $3,850 for our warehouse and parking
properties. The Metromover tax had been established for three years and we will
complete our contributions by September 2000. Therefore, we budgeted zero for this
fiscal year.
21. Moving Expense
This line item is unchanged from the previous year's budget of $1,000 to cover the cost of
relocation of our warehouse inventory.
22. Office Equipment Repair/replacements
The proposed budget amount is $ 2,500 which includes minor costs associated with repair
and replacement of the tape recorder for meetings, facsimile machine, and copying
machine maintenance.
23. Office Supplies
The proposed budget amount is $3,000 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. Postage
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. Promotions/Marketing
The proposed budget amount of $250,000 is to provide funding 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
line item is unchanged form the previous year's budget.
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27. Telephone
The proposed budget amount of $ 5,000 includes all anticipated telephone expenses for
general office operations. The amount has been unchanged from last year's budget .
28. Audit
The proposed budget amount of $20,000 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 previous years'
budget.
29. Legal Support
The proposed budget amount of $50,000 is to provide legal support for the Authority.
30. Professional Service/Intern
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 additional temporary professional and administrative assistance.
The budgeted amount is $50,000, which is unchanged from the last year's budget.
32. Office Equipment Purchases
The proposed budget amount is $3,500 to cover the cost to acquire new software,
equipment purchase or replacement.
33. Furniture & 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 a $1,000 decrease from last
year's budget.
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•
August 28, 2000
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. I am pleased to inform you that the
proposed budget reflects $ 1,183;546 in revenues and a Net Operating
Income to MSEA 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 $ 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 Ice and Barney, while complimenting them with some of
the best concerts in the industry.
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701 Arena Blvd., Miami, Florida 33136 (305) 350-7861 /Fax (305) 350-7867
August 28, 2000
Honorable Mayor and Members of the City Commission
Page t
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
rograms: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,
�Jeames ..
Executive Director & CEO
Cc: Members of the Miami Sports, and Exhibition Authority
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