HomeMy WebLinkAboutItem #23 - Discussion Item4
CITY OF MIAMI. FLORIDA
INTER -OFFICE MEMORANDUM CITY OFFICE
,, I I z J 77
TO Howard V. Gary CATS April 22, 1983 FILE
City Manager "
FRJV
Carlos E. Garcia /
Director of Finance
s�E3_E FY-82 Financial Renort
Presentation to the City
Commission
tiLFE RE."CE-S
RE6..i pEURI E
The Annual Post Audit Requirements of Municipalities, issued by
the State of Florida, Auditor General, Chapter 10.510(7) reads:
"The financial audit report required by this chapter
shall be received by the municipality at a regular
meeting of its governing body and retained as a
public record in accordance with the law."
Please schedule as a discussion item for the City Commission meeting
of May 12, 1983, the FY-82 Financial Statements of the City of Miami.
CEG:hb
cc: R. Rosencrantz,
Ass't. City Manager
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COMPREHENSIVE
ANNUAL
FINANCIAL
CITY OF MIAMI, FLORIDA
FOR THE FISCAL YEAR ENDED
SEPTEMBER 30, 1982
FINANCE DEPARTMENT
CARLOS E. GARCIA, CPA
DIRECTOR OF FINANCE
COVER PHOTO - CITY OF MIAMI CONVENTION CENTER
83-3"76 .
■
CITY OF MIAMI, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended September 30, 1982
TABLE OF CONTENTS
Exhibit/
Schedule Page
INTRODUCTORY SECTION
Letter of Transmittal 7-17
City of Miami Organization Chart 18
City of Miami Officials 19
FINANCIAL SECTION
Report of Independent Certified
Public Accountants 23-24
GENERAL PURPOSE FINANCIAL STATEMENTS
Combined Balance Sheet - All Fund Types
and Account Groups
I
28-29
Combined Statement of Revenues,
Expenditures and Changes in Fund
Balances - All Governmental Fund
Types and Expendable Trust Funds
II
31
Statement of Revenues, Expenditures
and Changes in Fund Balance -
Budget (Non-GAAP Budgetary
Basis) and Actual - General Fund
III
33
Combined Statements of Revenues,
Expenditures and Changes in Fund
Balances - Budget (GAAP Basis) and
Actual - Special Revenue and Debt
Service Funds
IV
35
Combined Statement of Revenues,
Expenses and Changes in Fund Equity -
All Proprietary Fund Types
V
36-37
Combined Statement of Changes in
Financial Position - All Proprietary
Fund Types
VI
39
Notes to Financial Statements
40-71
CITY OF MIAMI, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended September 30, 1982
TABLE OF CONTENTS, Continued
FINANCIAL SECTION, Continued
SUPPLEMENTAL COMBINING AND INDIVIDUAL FUND STATEMENTS
General Fund:
Statement of Revenues, Expenditures and Changes
in Fund Balance - Budget (Non-GAAP Budgetary
Basis) and Actual
Special Revenue Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget (GAAP
Basis) and Actual - Downtown Development
Authority, Rescue Services and Federal
Revenue Sharing Special Revenue Funds
Debt Service Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances - Budget (GAAP
Basis) and Actual
Capital Projects Funds:
Combining Balance Sheet
Combining Statement of Revenues, Expenditures
and Changes in Fund Balances
Exhibit/
Schedule Pa e
A-1 77-79
B-1 83
B-3 85
C-1 89
C-2 90
91
C-3
D-1 95
D-2 96
1
1
r
r
Ci y 0
the Fiscal Y
T.kBLE `-
I�;i�_ Continued
C.0�51NING AN
Funds:
Balance Sheei'
Statement of
a:,A- Changes in Fund
:,.siring Statement of
?-sition
_n:e = a Service Funds:
1:c=biasing Balance Sh,
Combining Statement
and Change in Fund
Co=bining Statement
Position
Trust and Agencyi
Combining Balance S
Combining Statement
and Changes in Fu
Trust Funds
STATISTICAL SECTION
General Fund Statistics
Tax -Related Statistics
Debt -Related Statistics
General Statistical Data
FA
L REPORT
.er 30, 1982
-hued
Exhibit/
Schedule Page
'EMENTS
:hanges
_etary
A-1
77-79
'
ures
B-1
83
B-2
84
ures
GAAP
t
B-3
85
C-1
89
gyres
+res
C-2
90
=AP
91
C-3
gyres
D-1
95
D-2
96
CITY OF MIAMI, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended September 30, 1982
TABLE OF CONTENTS, Continued
FINANCIAL SECTION, Continued
SUPPLEMENTAL COMBINING AND INDIVIDUAL FUND STATEMENTS,
Continued
Enterprise Funds:
Combining Balance Sheet
Combining Statement of Revenues,
Expenses
and Changes in Fund Equity
Combining Statement of Change in
Financial
Position
Internal Service 'i'unds :
Combining Balance Sheet
Combining Statement of Revenues,
Expenses
and Change in Fund Equity
Combining Statement of Changes in
Financial
Position
Trust and Agency:
Combining Balance Sheet
Combining Statement of Revenues,
Expenditures
and Changes in Fund Balance -
Expendable
Trust Funds
STATISTICAL SECTION
General Fund Statistics
Tax -Related Statistics
Debt -Related Statistics
General Statistical Data
3
Exhibit/
Schedule Page
E-1 99-100
E-2 101
E-3 102
F-1
105
F-2
106
F-3
107
G-1 111
G-2 112
115-118
119-122
123-131
132-141
8 S"-3 7C
REPORT
30, 1982
d
S
anges
tary
Exhibit/
Schedule paw
A-1 77-79
f B-1 83
res
B-2 84
res
AAP
B-3 85
C-1 89
res
C-2 90
es
"AP 91
C-3
D-1 95
es
D-2 96
CITY OF MIAMI, FLORIDA
COMPREHENSIVE ANNUAL FINANCIAL REPORT
For the Fiscal Year Ended September 30, 1982
TABLE OF CONTENTS, Continued
Exhibit/
Schedule Page
FINANCIAL SECTION, Continued
SUPPLEMENTAL COMBINING AND INDIVIDUAL FUND STATEMENTS,
Continued
Enterprise Funds:
Combining Balance Sheet E-1 99-100
Combining Statement of Revenues, Expenses
and Changes in Fund Equity E-2 101
Combining Statement of Change in Financial
Position E-3 102
Internal Service Funds:
Combining Balance Sheet F-1 105
Combining Statement of Revenues, Expenses
and Change in Fund Equity F-2 106
Combining Statement of Changes in Financial
Position F-3 107
Trust and Agency!
Combining Balance Sheet G-1 111
Combining Statement of Revenues, Expenditures
and Changes in Fund Balance - Expendable
Trust Funds G-2 112
STATISTICAL SECTION
General Fund Statistics 115-118
Tax -Related Statistics 119-122
Debt -Related Statistics 123-131
General Statistical Data 132-141
3
j
PART 1
INTRODUCTORY
SECTION
AK
5
PART
INTRODUCTORY
SECTION
5
i BLANK
Honorable Mayor
of the City of
City of Miami,
Gentlemen:
and Members
Miami Commission
Florida
January 14, 1983
The City of Miami Comprehensive Annual Financial Report for the
fiscal year ended September 30, 1982, is submitted herewith.
This report contains the audited financial statements for all
funds and account groups under the direct legislative control of
the City Commission. Responsibility for the accuracy, complete-
ness and fairness of the presented data, including all disclo-
sures, rests with the City of Miami, specifically the Department
of Finance. We believe the data, as presented, is accurate in
all material aspects; that it is presented in a manner designed
to fairly set forth the financial position and results of opera-
tion of the City of Miami as measured by the financial activity
of its various funds; and that all disclosures necessary to en-
able the reader to gain the maximum understanding of the City's
financial affairs have been included.
Designed to meet the needs of a broad spectrum of financial
statement readers, this Comprehensive Annual Financial Report is
divided into three major sections:
1. Introductory Section - As the title indicates,
this section introduces the reader to the report
and includes the table of contents, this trans-
mittal letter, a City organization chart and a
listing of City officials.
7
"
IS --Ii i
January 14, 1983
H,�r urable Mayor and Members
uL' the City of Miami Commission
City of Miami, Florida
Gentlemen:
The City of Miami Comprehensive Annual Financial Report for the
fiscal year ended September 30, 1982, is submitted herewith.
This report contains the audited financial statements for all
funds and account groups under the direct legislative control of
the City Commission. Responsibility for the accuracy, complete-
ness and fairness of the presented data, including all disclo-
sures, rests with the City of Miami, specifically the Department
of Finance. We believe the data, as presented, is accurate in
all material aspects; that it is presented in a manner designed
to fairly set forth the financial position and results of opera-
tion of the City of Miami as measured by the financial activity
of its various funds; and that all disclosures necessary to en-
able the reader to gain the maximum understanding of the City's
financial affairs have been included.
Designed to meet the needs of a broad spectrum of financial
statement readers, this Comprehensive Annual Financial Report is
divided into three major sections:
1. Introductory Section - As the title indicates,
this section introduces the reader to the report
and includes the table of contents, this trans-
mittal letter, a City organization chart and a
listing of City officials.
7
JQ"--1�
�&3 0 : U
I
�
Honorable Mayor and Members
Mayor and Members
Honorable Ma Y
of the City of Miami Commiss
of the City of Miami Commission
2. Financial Section - The General Purpose Financial
Budgetary control is mainta
estimated pur
Statements (GPFS) are the City's basic financial
encumbrance of
orders to vendors:
statements and provide an overview for users who
purchase
of balances are not
require less detailed information about the
overrun
are made available.
City'a finances than is contained in the balance
of this report. The remainder of the financial
anions
Capital projects Funds are
section presents combining statements, individual
ance at September 30, 1982.
fund statements and schedules focusing on indi-
vidual funds rather than fund types.
INTERNAL CUNTKOL
3. Statistical Section - Although this section con-
tains substantial financial information, these
tables differ from financial statements in that.
In developing and altering
they present nunaccounting data, cover more than
erat,ion is given to the ade
one fiscal year, and are designed to reflect so-
Internal accounting contrc
cial and economic data, financial trends and the
but not absolute, assurant
fiscal capacity of the City.
against loss for unauthors
ability of financial rec,
and maintaining accountabi
The accompanying financial statements have been examined by the
City's Certified Public Accountants, Coopers b Lybrand, as re-
The concept of reasonable
quired by the City Charter and the State of Florida Statutes.
control should not exceed
Their opinion as to the fair presentation of the City's financial
the evaluation costs
statements is included as part of the Financial Section of this
mmanaggeement.
judgmennttssb by a
report. The notes to the financial statements, summarize the
City's significant accounting policies, indent.ify the entities
All internal control ev
included in this report. and disclose additional information which
work. We believe the Ci
is considered necessary to the fair presentation of the financial
statements.
quarely safeguard asset
proper recording of finan
ACCOUNTING SYSTEM AND BUDGETARY CONTKUL
Additionally, the Office
digs of the City's revenu
The City's accounting records for governmental and fiduciary
funds operations are maintained on a modified accrual basis, with
KEPOKTING ENTITY AND ITS
revenues being recorded when available and measurable and expen-
ditures being recorded when the services or goods are received
and the liabilities are incurred. Accounting records for the
This report includes a
City's proprietary funds are maintained on the accrual basis.
City. The City provide
contemplated by its cit
lice and Fire), Solid
Stadiums and Marinas, P
Economic Development, C
trative Services.
M
N
bas f:
ew for
tion
d 1n rfe JOf the
lent
es
Ila set r. 1
irmatlor, -
ements - -
cover mores to retie: _ t^
trends a
e been
exam_,-,e_
of Florlccr
ents
s U. _
ndentlfr `' -te
t,.e
ri0n1�fLc.ya-� rM -= es
ental
accrual
eatsura
le
r S....ar.:. e7►re^-
-1n are race:
accrualrNcora s : o: t.^,e
basis.
Honorable Mayor and Members
of the City of Miami Commission
Budgetary control is maintained at the major object level by the
encumbrance of estimated purchase amounts prior to the release of
purchase orders to vendors. Purchase orders which result in an
overrun of balances are not released until additional appropri-
ations are made available. Open encumbrances for the General and
Capital Projects Funds are reported as reservations of fund bal-
ance at September 30, 1982.
INTERNAL CONTROL
In developing and altering the City's accounting system, consid-
eration is given to the adequacy of internal accounting controls.
Internal accounting controls are designed to provide reasonable,
but not absolute, assurance regarding the safeguarding of assets
against_ loss for unauthorized use or disposition and the reli-
ability of financial records for preparing financial statements
and maintaining accountability for assets.
The concept of reasonable assurance recognizes that the cost of a
control should not exceed the benefits likely to be derived and
the evaluation of costs and benefits requires estimates and
judgments by management..
All internal control evaluations occur within the above frame-
work. We believe the City's internal accounting controls ade-
quately safeguard assets and provide reasonable assurance of
9 proper recording of financial transactions.
Additionally, the Office of Internal Audits conducts various au-
dits of the City's revenues and operations on a periodic basis.
REPORTING ENTITY AND ITS SERVICES
This report includes all of the funds and account groups of the
City. The City provides the full range of municipal services
contemplated by its citizens. This includes Public Safety (Po-
lice and Fire), Solid Waste, Public Works, Parks, Recreation,
Stadiums and Marinas, Planning and Zoning, International Trade,
Economic Development, Community Development. and Ueneral Adminis-
trative Services.
9
S3--37C .
Honorable Mayor and Members
of the City of Miami. Commission
The Department of off -Street. Parking is an agency and
instrumentality of the City whose board members are appointed by
the City of Miami Commission. Its financial data is included as
an Enterprise Fund In this report_ beginning in 1982. The Down-
town Developement Authority, a dependent special district of the
City of Miami, is included as a Special Revenue Fund in this re-
port_.
This report does not include financial statements fur the Miami
City General Employees' Ker.ire menr Plan and the Miami City Em-
ployeesRetirement_ System since they are administered by inde-
pendent and autunomous boards of trustees. Each of these enti-
ties publishes its own audited financial report.
GENERAL GUVEKNMENTAL UPEKATIUNS
The overall efforts of the City Commission and Adminisr_rat ion are
best. summarized by rlie fInanci.aI health of the Ciry's General
Fund as of September 30, 1982. The demands placed on the laity by
its citizens for a full range of municipal services have cun-
tinued to increase. The City Commission has continued to address
these needs by increasing the efficiency and effectiveness of its
operations. The following ilLust rar.Ions bear witness to r_hese
efforts:
The Police Department's manpower has increased to over
1,000 officers; Gommuniry Crime t'revention Prugrams
have been implemenred in Ciry neighborhoods; a Marine
Parrul has been created. As a result. of r.l►ese etforts,
major crime has decreased by 9. % over 1981 - violent
crime has declined by 19.4%.
The iiui.lding & Loniag Departmenr was merged with ri►e
Fire Departmenr. which has eliminar.ed duplicarion of
services; an amphibious fire boar, was designed and put
inro service prutecting more r.han 22 miles of i•iiami.'s
waterfront; the Fire Department. colir.inues to maintain a
class "A" rating which passes on rU the cir.izens in rile
form of lower fire insurance rarer.
The City cunri.nues to be rile largesr major city ill tile
United Srares with backyard garbabe collecr.iuii pickup
with over 45,000 runs of solid was re cutLecr.ed annu-
ally.
.1
I
Ll
I
r
N
M
M
M
M
w
w
Honorable Mayor and Members
of the City of Miami Commissio
In order to maintain these is
enue sources have been explorL
servic-
certain nOI14s358tat1Septemb
ance of $ay
The following is a summary o
lated percentage of total r
increase or decrease when com
REVENUES AND OTHER FINANCING
Taxes
Licenses & Permits
Intergovernmental
Inteagovernmental
Charges for Services
Interest
Miscellaneous Revenue
Operating Transfers In
EXPENDITURES AND OTHER USE
General Government
Public Safety
Public Improvements
Culture & Recreation
Sanitation
Other
Operating
Transfers 0
10
Honorable Mayor and Members
of the City of Miami Commission
g is an
embers
embers are agency a
and
In order to maintain these
improved operations,
alternative
rev -
data appointed
enue sources have been explored,
along
with reducing the
level of
included
ing in
�
certain non -essential services,
resulting
in a General
Fund bal-
���s aS
2. The
Special Down`
ance of $8,114,358 at September
30, 1982.
district
evenue Fund in of
this
The following is a summary
of General
Fund operations,
their re -
tee
lated percentage of total
revenues
aad expenditures
and their
atements
increase or decrease when compared
to
the previous fiscal
year*
fur t"Q Miami
and the Mia of
CirY En -
administered
Be by 1ade-
REVENUES AND OTHER FINANCING
-----
SOURCES -
- -
IN THOUSANDS
— ___ --_
Each of these
a
ePort. ent i-
Increase
Percentage
(Decrease)
Amount
of Total
from 1981
Taxes
$ 87,458
63.5%
$10,010
and Administration
ration
Licenses & Permits
5,452
4.0
<664>
of are
file (;itY.s
Intergovernmental
16,103
11.7
<31>
General
Inteagovernmental
1,782
1.3
<799>
1Placed on the City by.
services
Charges for Services
11,519
8.4
887
-s contti have con-
Interest
3,363
2.4
1,351
to address
d effectiveness
iveneSs
Miscellaneous Revenue
2,129
1.5
1,004
of its
bear witness
Operating Transfers In
9,938
7;2
910
to these
$ 137 , 744
100. 0%
$ 12 , b88
-increased to
over
venr.ion Programs
_hoods;
a Marine
?f these efforts
r 198, ,
EXPENDITURES AND OTHER USES
-- — -
- IN THOUSANDS
- — ----
- violent
Increase
merged with the
duplication
Percentage
(Decrease)
of
designed
Amount
of Total
from 1981
�—
and
miles liami's Pur.
of t
General Government
$ 14,114
10.2%
$ 2,380
es to maintain a
Public Safety
74,813
54.2
13,312
citizens in the
Public Improvements
13,608
9.9
1,277
Culture & Recreation
7,116
5.1
<402>
Sanitation
19,394
14.1
2,008
-jot city in the
lection
Other
7,856
5.7
1,157
pickup
Operating Transfers Our
1,142
.8
<670>
-ullected
annu-
$138,043
100.0%
$19,062
11 S'3 "-a i C, .
Honorable Mayor and Members
of the City of Miami Commission
I
The increase in tax revenue resulted primarily from an increase
in the assessed property valuation from 6.0 billion in 1981 to
7.2 billion in 1982. The additional cost of augmenting the Po-
lice force to over 1000 officers is reflected in the increase in
t
Public Safety expenditures.
-�
SPECIAL REVENUE FUNDS
The City's Special Revenue Funds were established to account for
resources restricted to expenditures for specific operating pur-
poses. The significant sub -funds included in the Special Revenue
Funds are as follows:
Downtown Development Authority - A semi -autonomous
entity that is charged with redeveloping the Downtown
_
Area. The Authority is funded through a one-half mill
charge to real property taxes in the Downtown Area.
Grants - Includes Federal Revenue Sharing, Comprehen-
,
save Employment and Training Act (CETA), Community De-
velopment Block Grants and Economic Development Admin-
istrative Grants. Revenues from these grants are des-
ignated for specific purposes within the City. Most of
these grants were included in Trust and Agency Funds in
previous financial reports.
Cable TV - Accounts for revenues to be expended for
specific uses related to the cable television license.
`
DEBT ADMINISTRATION
The ratio of net bonded debt to assessed valuation and the amount
of bonded debt per capita are useful indicators of the City's
debt position to municipal management, citizens, and investors.
The past two fiscal years are presented below.
1982 1981
Net Direct Bonded Debt - $116,010,000 $126,320,000
Ratio of Debt to Assessed Value - 1.61% 2•08%
`
Debt per Capita - It') Of) 03
• $3 15 . 80
12
rinaril :.. �....._... .... .s_ ..... <_
ease
cst
fiected '
t. a _rasePO �...
r Spec
e in thF - __-� our'
IopingeW,__'--=-�:_: _.._ - .a i.a_ :a.• -
ough a o_ e; _ _ .::,C,e . s. __ . r, ... .. c, . .
e Dow,tov — _ ,e s: .r,es
'�ue ral 4r an.
SharIZ - _he a. e a s s ._ _3 a..,
ETAS �'__- _.._ a.._ '.ea•,;ti.icatio. ..,n__. 4
L
De
1 - a,. ii _ ies '-' I_ DU 2. . a11? a x .....i e . �` � i
�eS�verJt�� - appropriation z Jne'nt se 2 a� ..::c•
and .1g.•
a ilities
arking Pac .
t'` r 'iarinas o • a
Economic 7e\•elotWen. S r
Sanitary Sewers
Street lmproveme;;ts
Parks & Re: rent i..in
Other a•S
dt t?PnC•c _ . ' General obligation ion bonds authorized brit ua;,
_g s;ir.i it �t•i�t��mher zc�
1^� 19$2, to fund these 311d tlttlt?T 7rJ�t'� t5, tJt.ilt'.� approxImatt`2\'
$137,500,000.
During the fiscal year, $20,804,000 was expetiiod for r.1i)ttai
?iz' ,�,• projects. A summary of the revenue,; and vxpelldituros of [tie
Capital Projects Funds is included izl the F111att; ial soct toll of
this report.
13
>.)_".� i 1.
Honorable Mayor and Members
Honorable Mayor and Members
of the City of Miami Commis -
of the city of Miami Commission
The Self Insurance Expends
activities relating to ce
ENTERPRISE FUNDS
group accident and health
in 1982, the unfunded lon
liability, which is expecte
Enterprise Funds are established to finance and account for the
is reflected in the General
acquisition, operation and maintenance of facilities which are
predominately self-supporting through the collection of charges
The Pension Administration
from users. The City operations in this category include off-
tions from various city de
street parking, marinas, stadiums, auditoriums and golf courses.
City"s Plan and System Reti
The Miami Convention Center and parking garage were under con-
struction as of Semptember 30, 1982.
The City is currently net
Pension litigation and rel
The following table summarizes all of the activities of these
the notes to the financial
types of operations for fiscal year 1982:
Amou,$)
1982
1982
CASH MANAGEMENT
----
Under
Operating Construction Total
Interest earnings City-wi_
-
agents amounted to $10,97
ance of $82,490,000, the
Charges for Services $ 8,917 $ - $ 8,917
e s t earned by the General
Total Operating Expenses < 7,669> <2,340> <10,009>
s i s t e d primarily of shot
Depreciation <1,525> - <1,525>
tificates of deposit. Th
Non -Operating Revenues (Exp.) <386> 451 65
United States Government
Operating Transfers in 672 - 672
A
tively bid between bank
Net Income/(Loss) $ 9 $ <1,889> $ <1,880>
obtain the highest rates
cash concept which allo
Beginning in 1982, depreciation has been computed for the Enter-
A
consequently, a better in
prise Funds, except for Off Street Parking which has depreciated
its fixed assets in previous years, as explained in note 6 of the
notes to the financial statements.
GENERAL FIXED ASSETS
TRUST AND AGENCY FUNDS
The General Fixed Assets
Trust and Agency Funds are
established for the purpose of ac-
.14
in the performance of ge
the
counting for assets held by
the City in a trustee capacity or as
the fixed assets of
As of September 30, 198
an agent for individuals,
private organizations and otherJQ
amount to $240,380,000.
governments.
of gifts
or, in the case
As of September 30, 1982, the
following were recorded as Trust
market value at the time
and Agency Funds:
JA
shown in this group of 4
present value. In accol
tion of General Fixed A
Expendable Trust Funds
Agency Fund
nancial statements. A
during the year amounte
Self Insurance
Cable TV
tively.
Pension Administration
C
14
Honorable Mayor and Members
of the City of Miami Commission
The Self Insurance T Expendable F accounts for insurance
Trust and
activities relating to certain property and liability risks,
ante group accident and health and workers' compensation. Beginning
facilities and account fo
r the in 1982, the unfunded long-term portion of the total estimated
he collectio Which are liability, which is expected to be funded from future operations,
s category n of charge, is reflected in the General Long Term Debt account group.
include
oriums and golf tour off -
garage Were se s The Pension Administration Fund is used to aggregate contribu-
under con_ tions from various city departments before their transfer to the
City's Plan and System Retirement Funds.
the activities of these
The City is currently negotiating a settlement related to the
Pension litigation and related matters explained in note 14(a) of
Amount(0Q0�5 the notes to the financial statements.
1982 }
Under MANAGEMENT
CASH MANAGEENT
nstruction Total
Interest earnings City-wide, excluding investments with fiscal
agents amounted to $10,975,000. Based on an average daily bal-
<2,340> S 8,91- ante of $82,490,000, the yield on investments was 13.30%. Inter-
- <10,0po> est earned by the General Fund was $3,363,000. Investments con-
45I C1,525> sisted primarily of short term repurchase agreements and cer-
65 tificates of deposit. These investments are collateralized by
C116?2 United States Government Securities. Investments are competi-
889" S 8&0 tively bid between banks and brokers which enables the City to
obtain the highest rates available. The City follows the pooled
computed for the Enter- cash concept which allows greater investment flexibility and
which has consequently, a better investment return.
' -
ained dEpreciated
in note 6 of
the
GENERAL FIXED ASSETS
The General Fixed Assets of the City are those fixed assets used
or the purpose r in the performance of general governmental functions and exclude
trustee P o' ac- the fixed assets of the Enterprise and Internal Service Funds.
capacitc anizations and or as As of September 30, 1982, the General Fixed Assets of the City
a
other amount to $240,380,000. This amount represents the original cost
or, in the case of gifts and contributions, the estimated fair
were recorded market value at the time of the gift or contribution. The values
as Trust shown in this group of accounts is considerably less than their
present value. In accordance with GAAFR, Statement 1, deprecia-
tion of General Fixed Assets is not recognized in the City's fi-
nancial statements. Additions and deductions to fixed assets
during the year amounted to $28,003,000 and $12,074,000, respec-
-le TV tively.
15
Honorable Mayor and Members
of the City of Miami Commission
STATISTICAL SECTION
This section reflects the General Fund revenues and expenditures
for the last ten years, property tax rates, levies and collec-
tions, assessed valuations of property located within the City,
net bonded debt, legal debt margin, overlapping debt, current
debt ratios, bonded indebtedness and miscellaneous statistical
facts reflecting financial trends as well as other economic in-
formation.
PROSPECTS FUR THE FUTURE
The advent of Miami as a ma jor inrernar.ionaI trade and communi-
cations center has bruught about intense development in the City,
especially in the Central Business District (C6U). During 1962.
more than a billion dollars in new construction in the L;BJ area
was in progress, including 3.5 million square teet ut uttice
space, 413,000 square feet of retail space, 1,464 hotel ruoms and
1,639 residential units. Also under construction, r.he new rapid
transit rail system, scheduled for cumpletion in 1964, will pro-
vide rapid mass transit_ in large sections of r.he City, connectinb
In the western portion of the UBD with the Downtown Component of
Merrurail which will distribute passengers throughout :Iiami's
Central District..
These changes are increasing the City's tax base as well as re-
quiremenrs for services.
The transformation of the City of Miami into a major merrupolis
provides numerous opportunity for achievement and progress.
le
he
Mayor and Members
floaohI City of ,Miami Commission
of tC
ACKNOWLEDGEMENT S
,our guidance and cooperation in p
nancial affairs of ratefullyCity of Ki
apPr
iressive manner is g
press our appreciation for the effo
Finance Department who participate
report and to our Certified Fu
Lybrand, for their cooperation and
.1
.1
-1
.1
.1
.1
N
16
N
r
r
9
J
Honorable Mayor and Members
of the City of Miami Commission
ACKNOWLEDGEMENTS
Your guidance and cooperation in planning ,and conducting the fi-
nancial affairs of the City of Miami in a responsible and pro-
gressive manner is gratefully appreciated. We also wish to ex-
press our appreciation for the efforts of the entire staff of the
Finance Department who participated in the preparation of this
report and to our Certified Public Accountants, Coopers &
Lybrand, for their cooperation and assistance.
Kespec v ly S itt_ed,
hUWAKD V. GA
City Kanager
CA E. GARCIA, CPA
Dire or of Finance
" n t.-r
17
CITY OF MIAM1, FLORIDA
ORGANIZATIONAL CHART
City of Miami
Electorate
Z
City
Commission
Downtown Off -Street
City City Clerk Advisory Development Parking
Attorney Boards Authority Authority
Law Dept. Clerk's Office
City Manager
Office of Labor Relations
Managers Office Office of Internal Audits
Office of Intergovernmental Affairs/Cable
Assistant Fire Assistant Assistant Police Assistant Assistant
City Manager Chief City Manager City Manager Chief City Manager City Manager
Fire Dept. Police Dept. Overtown/
Perk West
Community Building and
Development Computers Auditoriums Vehicle
Maintenance
Building d
Planning Zoning Finance Marinas Public Works
Inspection
Planning and
Zoning Boards Human Stadiums
Administration Resources Parka
International
Trade Management Conference
Promotion and Budget Center Solid Waste
Information d Convention
Visitors Bureau
Economic Recreation
Development
18
CITY OF
Year Ende-
ELEC
Maurice A. Ferro
J.L. Plummer
Joe Carollo
Miller J. Dawkins
Defnetrio Perez, Jr.
APPC
Howard V. Gary
Jose Garcia -Pedro
Ralph G. Ongie
CERTIFIED
CO
BROWN, WO
NE
FI
JAMES J. i.
NE
A
L 7
Downtown Off-street
Development Perking
Authority Authority
Office of Labor Relations
Office of Internal Audits
Office of Intergovernmental Affairs/Cable
l
-lice Assistant Assistant
hief City Manager City Manager
= Dept. Overtown/
- Park West
Building and
Vehicle
Maintenance
Public Works
Parke
Solid Waste
CITY OF MIAMI, FLORIDA
Year Ended September 30, 1982
ELECTED OFFICIALS
Maurice A. Ferre
J.L. Plummer
Joe Carollo
Miller J. Dawkins
Demetrio Perez, Jr.
MAYOR
VICE MAYOR
COMMISSIONER
COMMISSIONER
COMMISSIONER
APPOINTED OFFICIALS
Howard V. Gary
Jose Garcia -Pedrosa
Ralph G. Ongie
CITY MANAGER
CITY ATTORNEY
CITY CLERK
CERTIFIED PUBLIC ACCOUNTANTS
COOPERS & LY13RAND
MIAMI, FLORIDA
BOND COUNSEL
BROWN WOOD, IVEY, MITCHELL & PETTY
NEW YORK, NEW YORK
FINANCIAL ADVISOR
JAMES J. LOWREY & CO. INCORPORATED
NEW YORK, NEW YORK
19
F, 3" _3 0 FJ _
LANK.
PART II
FINANCIAL
SECTION
21
s3-376-
Coopers
& LY brand
prl'fit"I (".Jt I\ ;1. I,.tlnI.Jt'I
The Honorable Mayor and City Commissioners
City of Miami, Florida
'. We have examined the general
g purpose financial statements of the City
of Miami, Florida as of and for the year ended September 30, 1982, as
listed in the foregoing Table of Contents. Our examination was made in
' accordance with generally accepted auditing standards and, accordingly,
included such tests of the accounting records and such other auditing
procedures as we considered necessary in the circumstances. We did not
examine the financial statements of the Department of Off -Street
Parking of the City of Miami, Florida, which statements reflect total
assets and operating revenues constituting 15% and 52%, respectively,
of the related combined totals of the Enterprise Funds. These state-
ments were examined by other auditors whose reports thereon have been
furnished to us, and our opinion expressed herein, insofar as it
relates to the amounts included for the Department of Off -Street
Parking, is based solely upon those reports.
As more fully described in Note 14(a) to the general purpose financial
statements, the City is involved in certain pension litigation and
related matters. The ultimate outcome of these lawsuits and related
matters cannot presently be determined, and no provision for any
liability that may result has been made in the general purpose finan-
cial statements.
In our opinion, based upon our examination and the report of other
auditors, subject to the effect of such adjustments, if any, as might
have been required had the outcome of the pension litigation and
related matters referred to in the preceding paragraph been known, the
general purpose financial statements referred to above present fairly
the financial position of the City of Miami, Florida at September 30,
1982 and the results of its operations and the changes in financial
position of its proprietary fund types for the year then ended, in
conformity with generally accepted accounting principles applied on a
basis consistent with that of the preceding year except for the inclu-
sion of the Department of Off -Street Parking in the general purpose
finanical statements, with which we concur, as discussed in Note 2(B),
and after giving retroactive effect to the changes, with which we
concur, in the method of accounting for depreciation in proprietary
fund types and the method of accounting for claim liabilities, as
described in Notes b and 11, respectively, to the general purpose
financial statements.
23
The Honorable Mayor and City Commissioners
City of Miami, Florida
Page Two
Our examination was made for the purpose of forming an opinion on the
general purpose financial statements taken as a whole. The combining
and individual fund statements listed in the Table of Contents are
presented for purposes of additional analysis and are not a required
part of the general purpose financial statements of the City of Miami,
Florida. The information has been subjected to the auditing procedures
applied in the examination of the general purpose financial statements
and, in our opinion, subject to the effect of such adjustments, if any,
as might have been required had the ultimate outcome of the pension
litigation and related matters referred to in the second preceding
paragraph above been known, is fairly stated in all material respects
in relation to the general purpose financial statements taken as a
whole.
Miami, Florida
January 14, 1983
24
forming an opinion on the
-s a whole. The combining
-he Table of Contents are
is and are not a required
ents of the City of Miami,
to the auditing procedures
=rpose financial statements
such adjustments, if any,
to outcome of the pension
in the second preceding
1 in all material respects
:al statements taken as a
17�
■
■
y
GENERAL
PURPOSE
FINANCIAL
STATEMENTS
83
EXHIBIT I
CITY OF MIAMI, FLORIDA
COMBINED BALANCE SHEET - ALL FUND TYPES AND ACCOUNT CROUPS
SEPTEMBER 30, 1982
Fiduciary
Fund Account Groups
Governmental Fund Types Proprietary Fund Types Types General General
Special Debt Capital Internal Trust And Filled Long -Term Totals
ASSETS General Revenue Service Protects Enterprise Service Agency Assets Debt (Memorandum Only)
Fouled cash and Investments
Gash and cash equivalents
Receivableb, net of allowance for
doubtful accounts of $4,402,000:
7 attes
Accounts
Assessment liens
Due from other funds (Note 4)
Due from other governments (Note 5)
Inventories
Deposits and prepaid ezpenseb
Restricted assets (Note 7):
Cash and investments with fiscal agent,
including accrued interest
Property, plant and equipment, net (Note 6)
N Bond discount and issuance costs, net
OD
Amount available in Debt Service Funds:
General obligation bonds
Special obligation bonds and
other payables
Amwunt available In Self Insurance Fund
for claims payable
Amount to be provided for retirement of
general long-term debt:
General obligation bonds
Special obligation bonds and
other payables
Claims payable
Total Assets
$14,294,066
$ -
$10,590,200 $3b,558,221 S
- $ 3.447,495 .$12,083s576 $
- $ - $ 76,973,558
-
8,542
- -
628,797 - -
- - 837,389
2,013,870
-
475,204 -
- - -
- - 2.489,074
1,382.270
87,140
- 65,139
309,853 - 194,962
- - 2.03Y,3b4
-
-
119,8b7 14,617
- - -
- - 134,484
34,579
35,903
- 1,393,409
2,722,000 - -
- - 4.165,891
128,031
4.170.854
- 297.747
4.427,249 - -
- - 9,023,686
53,066 75d,356
811,422
9,88tl
25,767
- _
189,291 8,460
- - 233.406
26,664,136 - - - - 26,664.136
115,793,000 14,367,694 - 240,380,147 - 370,540,841
4,765,820 - _ - - 4,765,820
- - - - 6,611,9L9 6,611,919
- 1.714,431 1,714,431
4,258,779 4,258,779
109,398.081 1U9,398,U81
637,520 637,520
- - - 7,401,221 7,401,221
1,bb2.704 ,5/y,328 261 511-185.211 18�3:9 1tt 1SS,15�i_21: ,€]R�S7i,S.S 286.998 5240.380.147 g110.021.951 $62H_12l_222
(Continued)
Now No a W am UUMUMMMMMM
LIABILIT19i
Deficit in pooled cash and investments
Vouchers and accounts payable
Accrued expenses (principally salaries)
Due to other funds (Note 4)
Due to other 80ver0=dmt8
Deferred revemse
Deposits refundable
Claims payable (Notes 7 and 11)
Natured bonds and interest payable
tttcted assets:
t 111 \n' tt1A111, 1'1.I Y,11ln
t tl!DIt N131 It.'11AW 1. :.Ill ll All rlltlll Ill•{.1 .11/11 Y,1
A•\NI{// I.I.al/�.
:•1 t'11.7 nil Jl tll,
1'Jn .'
r 1.1 •.. 1 Y1 �
l:a.vc nauud al Nuud Lypcn
1't,.l•11�/Y�t told
IfI �Y
1 t ll.al
LiL_�
1-0 l.••1
•� l.aYl I:u.alYl
I—
ipcllYl ll l•1
1'Yl•tIYI
ulY
YI.•f____
Ill c/ •l lna.
l+l..
(:, L.L..J
Fos llo t._wL/
llnelal
IteyelYle _l.�Vi,c
tt,
It
9t,:41
1/n,'AlY
4(t,'rtei
�:,r•/I
3,52S.484
-
lOS,635
3U,0UV Yi,519
',•K.1,4if
497,003 -
-
-
b ✓.
2,029844
358.987 -
102
3/U"L
13.102
_
1,195:958
92,748 -
_
-
_
1,242,40,
!1,6lrL,t
2,815,443
-
-
-
-
-
-
4,255,284
-
-
-
_
"
_
2.164,1135
165„ 000
-
1 •.l Y: u
1 jyty �,aW4aW '.��i
•r,i:c.�Vc.
4,)t::,)ic
1: ,9u[,4W,
I(A,La,
L(j.,.0 ,
Amount to be provided for retirement of
general long-term debt:
General obligation bonds _ _ _ _ _ _ _ - 109,398.081 109,398,081
Special obligation bonds and
other pryables - _ _ _ _ _ _ - 637,520 637,520
Claims payable - - - - - 7,401,221 7,401,221
Total Assets $17_862.704 S11.185.211 S38.329.1Z3155.753. $18 s73_545 SL2.286.998 S240Q�47 ctt(►g 02� �62a_7�1.2�2
(Continued)
LIABILITIES
Deficit in pooled cash and investments
Vouchers and accounts payable
Accrued expenses (principally salaries)
Due to other funds (Note 4)
Due to other governments
Deferred revenue
Deposits refundable
Claims payable (Notes 7 and 11)
Natured bonds mid interest payable
Payable from restricted assets:
Construction contracts
Accrued interest
Current portion of revenue bonds payable
Revenue bonds payable (Note 7)
General obligation bonds payable (Note 7)
Special obligation bonds payable (Note 7)
other payables (Note 7)
tC Total liabilities
FUND N0Ur1Y
Contributed capital
Investment in general fixed assets
Retained earnings (Note 9)
Furl balances:
Reserved for:
Encumbrances
Debt service
unreserved:
Designated for hurricane loss
Designated for future pension contribution
Designated for claims payable
Designated for subsequent year's expenditures
and approved projects
Undesignated
Total retained earnings/fund balances
Total fund equity
Commitments and contingent liabilities (Notes 10,
13 and 14)
Total liabilities and fund equity
X
GG1
1
I il 11 a 2 a
EMIBIT Z
CITY OF EQAEII, FLORIDA
(Continued)
COMBINED BALANCE SHEEP - ALL FUND TYPES AND ACCOUt1f GROUPS
SEPPEMBER 30, 1982
Fiduciary
Fund
Account Croups
Governmental Fund Types
Proprietary Fund Types
Types
General
General
Special
Debt
Capitai
Internal
Trust And
Fixed
Long -Tenn
Totals
Only
General
Revenue
Service
Projects
Enterprise
Service
ARencY
Assets
Debt
(Memorandum
$ -
$ 50,676
$ -
$ -
$ 9,108,232
$ -
$ -
$ -
$ _
$ 9,158,909
2,996,560
1.012,745
-
2,150,325
651,497
763,417
685,072
-
8,259,616
4,363.358
3,525,984
105,635
-
93,243
178,909
433,960
25,627
-
-
-
4,185,891
-
30,000
34,579
2,943,433
1,177,879
-
-
-
-
497.003
2,029,844
497,003
358,987
-
-
-
-
654,440
-
-
3,043,271
3,440,373
1,195,958
92,748
-
-
-
_
73,702
-
-
-
2,077,965
1,242,466
_
11,660,000
12,902,466
_
_
_
-
2,815,443
-
-
-
-
-
-
2,815,443
_
-
4,255,284
-
-
-
-
4,255,284
-
-
2,164,185
-
-
-
-
2,164,185
_
-
-
-
165,000
_
_
840,000
84,FW0.000
-
-
-
_
84,840,000
_
_
_
-
-
116,010,000
116,010,000
-
900,000
900,000
67,677
8.899
-
46.187
-
-
-
1,451.951
1,574.714
9,748,346
2,215,471
2,858,921
5,187.001
103,315,315
1,197,377
4,031.130
-
130,021.951
258,575.512
44,701.294
7,204,939
-
-
-
51,906,233
-
-
-
240,380,147
-
240,380.147
7.736,603
10,171,229
-
-
-
17,907,832
2,057,724
-
-
4,283,576
-
_
-
-
6,347,600
75
_
-
1779675
-
'
-
-
500,000
-
-
500.000
-
3,497,089
-
-
3.497,089
-
4,258,779
-
-
4,258,779
36.824,740
4,500,000
-
1,100,000
31,M,740
-
-
_
_
8,351 915
1,556,634
2,112.790
7,048,675
(2,366.184)
-
-
8,114,358
2.II2,790
8,326,350
33,142,132
7,736,603
10,171.229
8,255.868
-
-
77,859,330
8,114,358
2,112.790
8,326,350
33,142,132
52,437.897
17,376.168
8,255,868
71+0,380.147
370.145,710
$1 ?,704
C4_7T8_261
CLL_1 s_ 71
.$3fIJ29}
.W-1.75=
545
1s�71��
S12_286 998
t —
0J8
�--0 1
St't0_�21.951
UA ��r
See accompanying rotes to financial statements
W
Revenues:
Taxes (Note 3)
License• and permits
Intergovernmental
Intragovernmental
Charges for services
Contributions from employees and retirees
Assessment lien collections
Interest
Other
Total revenues
Expenditures:
Current:
General government
Public safety
Public improvements
Sanitation
Culture and recreation
Grant and related expenditures
Pension contributions (Note 10)
Insurance premiums
Claim payments
Other
Debt service:
Principal retirement
Interest and fiscal charges
capital outlay
Total expenditures
Excess (deficiency) of revenues
over expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Total other financing sources (uses)
Excess (deficiency) of revenues and
other financing sources over
expenditures and other uses
Fund balances at beginning of year, as
originally reported
Adjustment for claim liabilities (Note 11)
Fund balance$ at beginning of year, as restated
Fund reclassification (Note 2(M))
Equity transfers to other funds
Fund balances at end of year
CITY OF MIAMI, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN FUND BALANCES -
ALL GOVERNMENTAL FUND TYPES AND EXPENDABLE TRUST FUNDS
YEAR ENDED SEPTEMBER 30, 1982
Governmental
Fund Types
Special
Debt
Capital
General
Revenue
Service
Pro ects
S 87,457,601
$ 2,846,562
$12,175,446
$ 6,331,009
5,452,139
-
16,102,708
27.216,96;
-
931,413
1,782,418
-
-
-
11,519,392
_
-
1,790.006
-
3,363,101
-
2,093,144
5,156,170
2,128.584
_ 822,945
_ 2,119
1,906,652
127,805.943
30.886.473
16,060,715
14,325,244
14.114,317
74,813,314
13,608.204
19,393,731
7,116,000
6,948,914
906.575
136,901,055
(9,095,112)
9,938,406
(1,142,390)
;96,116
(249,096)
1,256,363
581,554
18,044,040
171,947
20,053,904
10,832,569
322,500
(9,962,337)
{9,639,837)
1,192,732
85,761
10,625,000
7,169,048
17,879,809
(1,819,094)
186,125
186,125
(1,632,969)
Fiduciary
Fund Type
Expendable
Trust
20,781,139
7,648,202
2.570.132
30,999,473
15,408,379
481,068
11.125.977
2,027,004
20,803,614 -
20,803.614 29,042,428
(6,478,370) 1.957,045
21,200
(75,000)
(53,800) -
(6,532,110) 1,957,045
8,413,454 800,582 9,959.319 43,013,802
8,413,454 d00,582 9,959,319 43,013,802
- 119,476 - -
_(3,339,500)
S_ 8_11_4_�358 S 2_ii2_790 S 8.326_a50 �v� 142_132
See accompanying notes to financial statements
4,439,506
1,978,793
6,418,299
( 119,476)
g_255_H6H
EXHIBIT 11
Totals
(Memorandum Onl
$108.810.618
5,452,139
44,251,087
22,563,557
11,519,392
7,648,202
1,790,006
10,612.415
7,430,432
220,077,848
14,114,317
76,069,677
13,608,204
19,393,731
7.697.554
18.044,040
L5,408,379
481.068
11,125,977
9,233.626
10,625,000
7,169,D48
21,710,189
224,680,810
(4,602,962)
10,468,231
11,179,727
(711,496)
(5,314,458)
66,62b,663
1,978,793
68.605.456
(3,339,500)
�,59_451.448
BLANK
CITY OF MIAMI, FLORIDA
STATEMENT OF REVENUES, EXPENDITURES
AND CHANGES IN FUND BALANCES - BUDGET (NON-GAAP
BUDGETARY BASIS) AND ACTUAL
GENERAL FUND
YEAR ENDED SEPTEMBER 30, 1982
Revenues:
Taxes
Licenses and permits
Intergovernmental
Intragovernmental
Charges for services
Interest
Other
Total revenue
Expenditures:
Current:
General government
Public safety
Public improvements
Sanitation
Culture and recreation
Other
Capital outlay
Total expenditures
Excess (deficiency) of
revenues over
expenditures
Other financing sources (uses):
Operating transfers in
Operating transfers out
Total other financing
sources (uses)
Excess (deficiency) of
revenues and other
financing sources
over expenditures
and other uses
Fund balance at beginning of year
Fund balance at end of year
Budget
$ 88,268,910
6,337,675
15,176,989
1,679,500
12,642,999
1,135,737
1,221,384
126,463,194
14,770,190
75,648,445
14,721,412
19,022,359
6,946.310
6,404,901
1,116,502
138,630,119
General Fund
Actual
$ 87,457,601
5,452,139
16,102,708
1,782,418
11,519,392
3,363,101
2.128.584
127,805,943
13,850,054
74,779,176
13,557,440
19,351,877
7,133,456
6,824,215
1,055,175
136,551,393
(12,166,925) (8,745,450)
8,695,559
(1,225,222)
7,,470,337
(4,696,588)
9,938,406
(1,142,390)
8,796,016
50,566
6,006,068 6,006,068
See accompanying notes to financial statements
33
EXHIBIT III
Variance
Favorable
(Unfavorable)
$ (811,309)
(885,536)
925,719
102,918
(1,123,607)
2,227,364
907.200
1,342,749
920,136
869,269
1,163,972
(329,518)
(187,146)
(419,314)
61,327
2,078,726
3,421,475
1,242,847
82,832
1,325,679
4,747,154
2
A
EXHIBIT IV
CITY OF MIAMI, FLORIDA
COMBINED
STATEMENT OF REVENUES, EXPENDITURES
AND
CHANGES IN FUND BALANCES - BUDGET
(GAAP BASIS) AND ACTUAL
SPECIAL REVENUE AND DEBT SERVICE FUNDS
YEAR ENDED SEPTEMBER 30, 1982
Special Revenue
(1)
Debt Service
(1)
Variance
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable)
Budget
Actual
(Unfavorable)
Revenues:
Property tax collections
$ 541,439
$ 541,613
$ 174
$12,018,187
$12,175,44b
5 157,254
Business and excise taxes
1,324,209
1,404,949
80,740
3,500,000
2,070,367
(1,429.633)
Interest
Intergovernmental
8,970,534
9,461,917
491,383
Assessment lien collections
1,200,000
1,790,006
590,006
Other
4,658
22,945
18,287
-
2.119
2,119
Total revenues
10,840,840
11,431.424
590,584
16,718,187
16,037,938
(o,80,249)
Expenditures:
Public safety
1.324,209
1,256,363
67,846
Culture and recreation
587,193
258,879
581,554
IIL,634
5,639
81,245
205,600
85,761
119,r1)9
Other
Principal retirement
10.625,000
10,625,000
-
Interest and fiscal charges
7,198,807
7,169,048
29,759
Total expenditures
2,170,281
2,009,551
160.730
18,029,407
17,879,809
149,598
Excess (deficiency) of revenues
over expenditures
8,670,559
9,421.873
751,314
(1,311,220)
(1,84L,.47!)
(5)u,n51i
Other financing sources (uses):
186,125
186,125
-
operating transfers in
Operating transfers out
(8,670,559)
_(9,938,406)
(1,267,847)
Total other financing
sources (uses)
(8,670,559)
(9,938,406)
(1,267,847)
186,125
L86,125
Excess (deficiency) of revenues
and other financing sources
over expenditures and other
-
tSln,S1)�
(516,51f)
(1,125,095)
(1,655,746)
(530,651)
uses
Fund balance at beginning of year
800,582
800,$82
-
9,b 1b, 518
v, n 1n, 51n
Fund balance at end of year
S 80U,582
5 28:,.049
j�tg,�,t�)
5 8,y9�423
S 7_9nu,772
�y530a651)
(1) Does not include funds for which budgets
have raz been adopted, see Note 2(D)(4)
See accompanying notes
to financial statements
CITY OF MIAMI, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES
IN FUND EQUITY -
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1982
Operating revenues:
Charges for services
Operating expenses:
Personal services
Contractual services
Materials and supplies
Heat, light and power
Intragovernmental charges
Other
Total
Operating income (loss)
before depreciation
expense
Depreciation expense
Operating income (loss)
Enterprise
$ 8,917,127
3,530,569
1,649,836
958,164
1,037,687
800,248
2,032,345
10,008,849
(1,091,722)
1z524,877
(2,616,599)
Nonoperating revenues (expenses):
Interest 1,060,720
Interest and fiscal charges (1,354,341)
Other 358,172
Net nonoperating
revenues
Income (loss) before
operating transfers
Operating transfers in
Operating transfers out
Net operating transfers
Net income (loss)
Internal
Service
$13,618,190
5,342,667
1,080,871
3,239,707
129,411
274,140
10,066,796
3,551,394
1,660,910
12890,484
243,473
64,551 243,473
(2,552,048)
2,133,957
671,641
244,486
-
(204,631)
671,641
39,855
(1,880,407)
21173,812
36
EXHIBIT V I
Total
(Memorandum Only)
$22,535,317
(Continued)
8,873,236
2,730,707
4,197,871
1,167,098
800,248
2,306,485
20,075,645
2,459,672
3,185,787
(726,115)
1,304,193
(1,354,341)
358,172
308,024
(418,091)
916,127
(204,631)
711,496
293.405
0
Ll
13
A
\7' -z , ATFMFNT OF R
IN Ftj
ALL FRom
YEAR ENDED
Deficit) at
cea:
4 - =ter= _ - ;�ertt , plant
-'.Der .
-z:eet Parking
-_ 2(B))
'�e:icit) at
:ear. as restated
( eficit) at
at beginning
--------- _-om other funds
Con-.-__ _:__r_s ;-o_ tenants
::,ans ers from other funds
Cont-::_:e= �ap_tal at end of yea
fund equity
F4ev w-cowl'41101tN
F4
EXHIBIT V
CHANGES
CITY OF MIAMI, FLORIDA
COMBINED STATEMENT OF REVENUES, EXPENSES AND CHANGES
IN FUND EQUITY -
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1982
nternal
Total
ervice
(Memorandum Only)
Net income (loss) - brought
618 190
$220535,317
forward
Retained earnings (deficit) at
beginning of year
Adjustment for property, plant
5,342,667
8,873,236
and equipment
1,080,871
2,730,707
3,239,707
4,197,871
Inclusion of Off -Street Parking
129,411
1,167,098
Authorit Y (Note 2(B))
-
800,248
274,140
2,306,485
Retained earnings (deficit) at
beginning of year, as restated
0,066,796
20,075,645
Retained earnings (deficit) at
end of year
3,5.51,394
2,459,672
Contributed capital at beginning
1,660,910
3,185,787
of year
Contributions from other funds
- 1,890,484
(726,115)
Contributions from tenants
Equity transfers from other funds
243,473
1,304,193
Contributed capital at end of year
-
(1,354,341)
_ -
358,172
Total fund equity
- _ 243z473 308,024
2,133 957
244,486
(204.631)
__ 39,855
2.173,812
(Continued)
(418,091)
916,127
(204,631)
711,496
293,405
EX111BIT V
(Continued)
Internal
Total
Enterprise
Service
(Memorandum Only)
$(1,880,407)
$ 2,173,812
$ 293,405
15,449,491 13,179,728
(12,358,582) (5,182,311)
6,526,101 -
9,617,010 7,997,417
7,736,603 10,171,229
38,070,718 4,868,064
3,996 2,336,875
3,287,080 -
3,339,500 -
44,701,294 7,204,939
$52.437.897 ,$17,376,168
See accompanying notes to financial statements
28,629,219
(17,540,893)
6.526.101
17,614,427
17,907,832
42,938,782
2,340,871
3,287,080
3.339.500
51,906,233
$69.814,065
I\ -"k t"
!. AN►t
I
CI
CITY OF MIAMI, FLORIDA
COMBINED STATEMENT OF CHANGES IN FINANCIAL POSITION
ALL PROPRIETARY FUND TYPES
YEAR ENDED SEPTEMBER 30, 1982
Working capital provided by
(applied to):
Operations:
Net income (loss)
Items not requiring current outlays
of working capital:
Depreciation and amortization
'-Dispositions and transfers of
property, plant and equipment
net
Total provided by (applied
to) operations
Other:
Decrease in restricted accounts
Contributions and equity transfers,
net
Proceeds from long-term debt
Total
Working capital applied:
Additions and transfers of property,
plant and equipment, net
Reduction of revenue bonds payable
Increase in due from other governments
Increase in other assets, net
Total
Increase (decrease) in working capital
Summary of increases (decreases) in
working capital:
Cash and investments
Accounts receivable, net
Inventories
Prepaid expenses
Accounts payable and accrued expenses
Due to/from other funds
Deposits refundable
Deferred revenue
Increase (decrease) in working capital
Internal
Enterprise Service
$ (1,880,407) $2,173,812
1,622,321 1,660,910
65,507 172,340
(192,579) 4,007,062
14,934,736 -
6,630,576 2,336,875
10.446.187 -
31,818,920 6,343,937
41,340,309 5,509,148
190,000 -
2,245,984 -
867,181
44,643,474 5,509,148
$(12.824.554) 834.782
$(15,047,073)
$1,095,106
3,837,065
(20,523)
23,795
194,608
2,103
(339,953)
(424,402)
(1,049,176)
-
(2,849)
-
(248,466)
-
See accompanying notes to financial statements
C Vi.IT DTT (t7
Total
(Memorandum Only)
$ 293,405
3,283,231
237,847
3,814,483
14,934,736
8,967,451
109446,187
38,162,857
46,849,457
190,000
2,245,984
867,181
50,152, 622
14JI,189, 765)
$(13,951,967)
3,816,542
208,403
2,103
(764,355)
(1,049,176)
(2,849)
(248,466)
., �,114g�
39
1.
2.
CIT
NOTES V
CITY OF MIAMI, FLORIDA
Se
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
M
2. Summary of Significant
General Description
Conti inued
The City of Miami, in the County of Dade, was incorporated in
for with a separ
1896, and comprises approximately 34 square miles of land and 20
comprise its asset
square miles of water. The City operates under the Commission/
expenditures or
City Manager form of government and provides the following ser-
allo-
vices as authorized by its charter: public safety, public works,
sources are
based upon
sanitation, recreation and community development. The County is a
funds
by
separate governmental entity and its financial statements are not
and the means
funs
included in this report.
The various
statements into s-
The Florida Legislature, in 1955, approved and submitted to a
categories. The
general election, a constitutional amendment designed to give a
used by the City -
new form of government to the County of Dade. The County is, in
FUND
effect, a municipality with governmental powers effective upon
GOVERNMENTAL
twenty-seven cities and unincorporated areas, including the City
T'
of Miami. It has not displaced or replaced the cities, but
General Fund -
supplements them. The County can take over particular activities
of the City• I
of the city's operations (1) if the services fall below minimum
sources except t'
standards set by the County Commission, or (2) with the consent of
fund.
the governing body of the city.
S ecial Revenue
Since its inception, the Metropolitan County Government has
account for the
assumed responsibility on a county -wide service basis for a number
than special as
of functions, including county -wide police services, complement-
projects) that
ing the municipal police service; uniform system of fire protec-
specified purpo
tion, complementing the municipal fire protection; consolidated
two-tier court system; creation of the Miami -Dade Water and Sewer
Debt Service Fu
Authority; coordination of the various surface transportation
for the accumu
programs; installation of a central traffic control computer
long -
system; merging all public transportation systems into a county
general
costs.
system; effecting a combined public library system; and centrali-
zation of the property appraiser and tax collector functions.
Ca ital Pro ect
account for fi
Summary of Significant Accounting Policies and Reporting Practices
tion or coast
those financed
The accounting policies of the City of Miami, Florida conform to
generally accepted accounting principles as applicable to govern-
The Capital P
ments. The following is a summary of the more significant
Fund which was
policies:
tion with spe
(A) Fund Accounting
lien on certa
franchise tax
The accounts of the City are organized on the basis of funds
to record suc
the Gener
and account groups, each of which is considered a separate
in
accounting entity. The operations of each fund are accounted
■
40 no
IN
ras incorporated in
,les of land and 20
ter the Commission/
the following ser-
fety, public works,
t. The County is a
statements are not
and submitted to a
designed to give a
!. The County is, in
Dwers effective upon
, including the City
:ed the cities, but
particular activities
s fall below minimum
) with the consent of
unty Government has
ce basis for a number
services, complement-
-stem of fire protec-
tection; consolidated
-Dade Water and Sewer
jrface transportation
fic control computer
systems into a county
system; and centrali-
collector functions.
nd Reporting Practices
-i, Florida conform to
applicable to govern -
the more significant
on the basis of funds
considered a separate
-ach fund are accounted
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
for with a separate set of self -balancing accounts that
comprise its assets, liabilities, fund equity, revenues, and
expenditures or expenses, as appropriate. Government re-
sources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent
and the means by which spending activities are controlled.
The various funds are grouped by type in the financial
statements into seven generic fund types and three broad fund
categories. The following fund types and account groups are
j
used by the City.
GOVERNMENTAL FUNDS
General Fund -
of the City.
sources except
fund.
The General Fund is the general operating fund
It is used to account for all financial re -
those required to be accounted for in another
Special Revenue Funds - Special Revenue Funds are used to
account for the proceeds of specific revenue sources (other
than special assessments, expendable trusts or major capital
projects) that are legally restricted to expenditures for
specified purposes.
Debt Service Funds - Debt Service Funds are used to account
for the accumulation of resources for, and the payment of,
general long-term debt principal, interest and related
costs.
Capital Projects Funds - Capital Projects Funds are used to
account for financial resources to be used for the acquisi-
tion or construction of major capital facilities (other than
those financed by Proprietary Funds).
The Capital Projects Funds include the Capital Improvements
Fund which was originally established by ordinance in connec-
tion with special obligation bond issues which established a
lien on certain franchise taxes. Although the lien on the
franchise taxes is no longer applicable, the City continues
to record such revenues in the Capital Improvements Fund or
in the General Fund based on budgetary considerations.
41
<. 'r L i
was incorporated in
Iles of land and 20
ider the Commission/
the following ser-
ifety, public works,
at. The County is a
L statements are not
and submitted to a
designed to give a
e. The County is, in
ewers effective upon
i, including the City
ced the cities, but
particular activities
s fall below minimum
) with the consent of
-unty Government has
:ce basis for a number
services, complement-
ystem of fire protec-
-tection; consolidated
-Dade Water and Sewer
urface transportation
fic control computer
systems into a county
system; and centrali-
collector functions.
nd Reporting Practices
m_i, Florida conform to
applicable to govern -
the more significant
on the basis of funds
considered a separate
each fund are accounted
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
for with a separate set of self -balancing accounts that
comprise its assets, liabilities, fund equity, revenues, and
expenditures or expenses, as appropriate. Government re-
sources are allocated to and accounted for in individual
funds based upon the purposes for which they are to be spent
and the means by which spending activities are controlled.
The various funds are grouped by type in the financial
statements into seven generic fund types and three broad fund
categories. The following fund types and account groups are
used by the City.
GOVERNMENTAL FUNDS
General Fund - The General Fun
of the
sources
fund.
City. It is used to
except those required
d is the general operating fund
account for all financial re -
to be accounted for in another
Special Revenue Funds - Special Revenue Funds are used to
account for the proceeds of specific revenue sources (other
than special assessments, expendable trusts or major capital
projects) that are legally restricted to expenditures for
specified purposes.
Debt Service Funds - Debt Service Funds are used to account
for the accumulation of resources for, and the payment of,
general long-term debt principal, interest and related
costs.
Capital Projects Funds - Capital Projects Funds are used to
account for financial resources to be used for the acquisi-
tion or construction of major capital facilities (other than
those financed by Proprietary Funds).
The Capital Projects Funds include the Capital Improvements
Fund which was originally established by ordinance in connec-
tion with special obligation bond issues which established a
lien on certain franchise taxes. Although the lien on the
franchise taxes is no longer applicable, the City continues
to record such revenues in the Capital Improvements Fund or
in the General Fund based on budgetary considerations.
41
( "L'i * ~J J i C .
C
NOTES
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
N
Continued
2. Summary of_Significant
Continued
2. Summary of Significant Accounting Policies and Reporting Practices,
FIDUCIARY FUNDS
Continued
Trust and Agency
PROPRIETARY FUNDS
account for ass -
for individuals,
All Proprietary Funds are accounted for on a cost of services
Trust Funds are
or "capital maintenance" measurement focus. This means that
as Governmental
all assets and all liabilities (whether current or non-
account for de;
current) associated with their activity are included on
license.
their balance sheets. Their reported fund equity (net total
assets) is reported as contributed capital and retained
ACCOUNT GROUPS
earnings. Proprietary fund type operating statements present
increases (revenues) and decreases (expenses) in net total
General Fixed A -
assets.
for all fixed a
Enterprise Funds - Enterprise Funds are used to account for
for in the en
operations:
General Long
(1) that are financed and operated in a manner similar to
account for t=
private business enterprises - where the intent of the
�
outstanding pr
governing body is that the costs of providing goods or
bonds payable
pay
services to the general public on a continuing basis be
(Note
financed or recovered primarily through user charges;
or
The two accoun
only with the
(2) where the governing body has decided that periodic
not involved
determination of revenues earned, expenses incurred,
and/or net income is appropriate for capital mainten-
(B) Financial Re o
ance, public policy, management control, accountability,
or other purposes.
M
For financial
Statement No.
Certain Enterprise Funds have historically operated at a
the City inc
loss and have required operating subsidies from the General
boards, commi
Fund. If future operations are not sufficient to offset
or dependent
these deficits, the General Fund will continue to support
these activities.
Control by o
basis of bud
Internal Service Funds - Internal Service Funds are used to
secured by
account for the financing of goods or services provided by
obligation of
one department or agency to other departments or agencies of
or receipt o
the City, or to other governments, on a cost -reimbursement
basis. Where capital replacements are necessary, particu-
larly in the City Garage and Motor Pool Internal Service
Funds, user charges include an amount necessary to provide
for replacement of equipment. Substantially all excess
funds are committed to the City's vehicle replacement
program.
42 10
IDA
CITY OF MIAMI, FLORIDA
NT5
NOTES TO FINANCIAL STATEMENTS
2
September 30, 1982
Continued
es and pvi^r`1
2. Summary of Significant Accounting Policies and Reporting Practices,
t, 1 a-' eE
Continued
_ _.•
FIDUCIARY FUNDS
Trust and Agency Funds - Expendable Trust Funds are used to
for on a cUe, V! ber
account for assets held by the City in a trustee capacity
-
nt focus. rt, E webi,a -t
for individuals, and/or other funds. The City's Expendable
(whether current tea.
Trust Funds are accounted for in essentially the same manner
activity ere I=cr,vr-
as Governmental Funds. The City's Agency fund is used to
or.
ted fund scull, ;ziet
account for deposits held under issuance of a Cable T.V.
ted capital er,t U`a`
et
license.
eratin e` r`ec
8 statemer�;E
y..-ebez.t
s (expen6eb ) i
ACCOUNT GROUPS
General Fixed Assets - This account group is used to account
s are used tG �`"°ur:t
for all fixed assets of the City, other than those accounted
for in the enterprise funds and internal service funds.
ed in a
Long Term Debt - This account group is used to
ma,General
,raer Ei er ..
" where the
account for the long-term portion of claims payable and
'" en, o: =tie
asts of
�
outstanding principal balances of long-term debt other than
provlci_: .
e
bonds payable from the operations of the enterprise funds
on a eontinu{n€ bas,,E to
ily through
(Note 11).
u6er cIiErFeE ;
,
The two account groups are not "funds.' They are concerned
as decided
only with the measurement of financial position. They are
that
not involved with measurement of results of operations.
armed, expenses iacu.:ec
late for
capita.., ma.i;,ter-
(B) Financial Reporting Entity
�t control, accour,tF�il;t�.
For financial reporting purposes, in conformance with NCGA
Statement No. 3, Defining the Governmental Reporting Entity,
storically operated at
the City includes all funds, account groups, agencies,
subsidies from the a
here '
boards, commissions and authorities that are controlled by
not suffici ent to a::Fet
or dependent on the City.
Will continue to support
Control by or dependence on the City was determined on the
basis of budget adoption, taxing authority, outstanding debt
Service Funds are used
secured by revenues or general obligations of the City,
to
-s or services provided by
obligation of the City to finance any deficits that may occur
departments
or receipt of significant subsidies from the City.
or agencies of
-► on s cost -reimbursement
s are necessary. particu-
tor Pool
Internal Service
aunt neceasary to provide
Substantially
all excess
y'a vehicle E-PPlacement
... ,,,," ,cS -)
43
CITY 0
CITY OF MIAMI, FLORIDA
NOTES TO F
NOTES TO FINANCIAL STATEMENTS
Sept
September 30, 1982
Continued
y. Summary of Significant Accv
2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
Continued
Based upon the foregoing criteria, the following organi-
Expenditures are gen
zations are included in the financial statements of the
accrual basis of acco
City:
is incurred. Exceptic
lated unpaid vacation
Downtown Development Authority (Special Revenue)
which are not accrued
Department of Off -Street Parking (Enterprise)
long-term debt which
The Miami City General Employees' Retirement Plan and Miami
All Proprietary Fund -
City Employees' Retirement System are entities independent of
basis of accounting.
the City. Because the City does not control their operation,
they are earned, and
their financial statements are not included herein.
are incurred.
(C) Basis of Accounting
(D) Budgets and _Budgetary
Basis of accounting refers to when revenues and expenditures
The City follows the -
or expenses are recognized in the accounts and reported in
getary data reflected
the financial statements. Basis of accounting relates to the
timing of the measurements made, regardless of the measure-
ment focus applied.
(1) Prior to Augusi
City Commissiot
All Governmental Funds and Expendable Trust Funds are ac-
f iscal year co
counted for using the modified accrual basis of accounting.
operating budge
Their revenues are recognized when they become measurable and
means of financi
available to pay liabilities of the current period. Ad
Valorem taxes are considered measurable and available when
(2) Public hearin
collected within 60 days subsequent to September 30. Utility
comments.
and franchise taxes, licenses and permits, fines and forfei-
tures, charges for services and miscellaneous revenue (except
(3) Prior to Octo
investment earnings) are recorded as revenue when collected
through passage
generally within 60 days subsequent to September 30, provided
that amounts received pertained to billings for the fiscal
year just ended. Occupational license revenues collected in
(4) Annual operat
advance of the periods to which they relate are recorded as
Revenue and De
deferred revenues. Investment earnings are recorded as
substantially
earned since they are measurable and available. Where grants
accounting pr
revenue is dependent upon expenditures by the City, revenue
comparisons for
is accrued as obligations are incurred.
expenditures.
Special assessment receivables are recorded as revenue in
Adjustments ne
the year the assessments are levied, even if payments are
tions in the G
made in annual installments. Annual installments not yet
collected are reflected as special assessments receivable.
44
■
N
CITY c
CITY OF MIAMI, FLORIDA NOTES TO F
NOTES TO FINANCIAL STATEMENTS Sept
September 30, 1982
Continued
2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
Based upon the foregoing criteria, the following organi-
zations are included in the financial statements of the
City:
Downtown Development Authority (Special Revenue)
Department of Off -Street Parking (Enterprise)
The Miami City General Employees' Retirement Plan and Miami
City Employees' Retirement System are entities independent of
the City. Because the City does not control their operation,
their financial statements are not included herein.
(C) Basis of Accounting
Basis of accounting refers to when revenues and expenditures
or expenses are recognized in the accounts and reported in
the financial statements. Basis of accounting relates to the
timing of the measurements made, regardless of the measure-
ment focus applied.
All Governmental Funds and Expendable Trust Funds are ac-
counted for using the modified accrual basis of accounting.
Their revenues are recognized when they become measurable and
available to pay liabilities of the current period. Ad
Valorem taxes are considered measurable and available when
collected within 60 days subsequent to September 30. Utility
and franchise taxes, licenses and permits, fines and forfei-
tures, charges for services and miscellaneous revenue (except
investment earnings) are recorded as revenue when collected
generally within 60 days subsequent to September 30, provided
that amounts received pertained to billings for the fiscal
year just ended. Occupational license revenues collected in
advance of the periods to which they relate are recorded as
deferred revenues. Investment earnings are recorded as
earned since they are measurable and available. Where grants
revenue is dependent upon expenditures by the City, revenue
is accrued as obligations are incurred.
Special assessment receivables are recorded as revenue in
the year the assessments are levied, even if payments are
made in annual installments. Annual installments not yet
collected are reflected as special assessments receivable.
44
---
8u®af gnfcan-t_Acc2. m
�Continued
Expenditures are gex
accrual basis of acc.
is incurred. Excepti.
lated unpaid vacation
which are not accrued
long—term debt which
All Proprietary Fund
basis of accounting.
they are earned, and
are incurred.
(D) Budgets and Budgetary
The City follows th=
getary data reflected
(1) Prior to Augus
City Commissio=
fiscal year co
operating budge
means of financ
(2) Public hearin,
comments.
(3) Prior to Octo
through passage
(4) Annual operat:
Revenue and De
substantially
accounting pr:
comparisons for
expenditures.
■
L7
L�
Adjustments ne
tions in the (
NTS
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
and Reporting Practices
2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
the following organi-
ial statements of the
Expenditures are generally recognized under the modified
accrual basis of accounting when the related fund liability
is incurred. Exceptions to this general rule include accumu-
Special Revenue)
lated unpaid vacation, sick pay and other employee benefits
(Enterprise)
which are not accrued, and principal and interest on general
long-term debt which are recognized when due.
tirement Plan and Miami
entities independent of
All Proprietary Funds are accounted for using the accrual
control their operation,
basis of accounting. Their revenues are recognized when
cluded herein.
they are earned, and their expenses are recognized when they
are incurred.
(D) Budgets and Budgetary Accounting
evenues and expenditures
ccounts and reported in
The City follows these procedures in establishing the bud-
ccounting relates to the
getary data reflected in the financial statements:
gardless of the measure-
(1) Prior to August 31, the City Manager submits to the
City Commission a proposed operating budget for the
ble Trust Funds are ac-
fiscal year commencing the following October 1. The
ual basis of accounting.
operating budget includes proposed expenditures and the
-ley become measurable and
means of financing them.
the current period. Ad
rable and available when
(2) Public hearings are conducted to obtain taxpayer
to September 30. Utility
comments.
emits, fines and forfei-
-ellaneous revenue (except
(3) Prior to October 1, the budget is legally enacted
=s revenue when collected
through passage of an ordinance.
to September 30, provided
billings for the fiscal
(4) Annual operating budgets for the General, Special
nse revenues collected in
Revenue and Debt Service Funds are adopted on a basis
'y relate are recorded as
substantially consistent with generally accepted
arnings are recorded as
accounting principles (GAAP) except that budgetary
available. Where grants
comparisons for the General Fund include encumbrances as
urea by the City, revenue
expenditures.
red.
Adjustments necessary to compare the results of opera-
- recorded as revenue in
tions in the General Fund on a GAAP basis to that on a
ed, even if payments are
.ual installments not yet
1 assessments receivable.
45
CITY OF MIAMI, FLORIDA
NO'.
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
2. Summary of Signific
2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
Continued
are recorded
Non-GAAP budgetary basis for the year ended September
cable appropr;v
30, 1982 are as follows:
Projects Fund
reported as r
Excess (deficiency) of revenues
constitute ex. -
and other financing sources
over expendtures and other
(F) Pooled _Cash a -
uses (GAAP basis) $ (299,096)
The City maib
Less encumbrances at
ally all cast+
September 30, 1982 (2,057,724)
and maintain=
cash and inv-
Plus encumbrances at
fund transfe
September 30, 1981 2,407,386)
meets. Irate -
mate proport-
Excess (deficiency) of revenues,
cash and ins
and other financing sources
deficit balm
over expenditures and other
uses (Non-GAAP budgetary basis) 50,566
Investments
For 1982, annual operating budgets were not adopted for
proximates
obliga
the following Special Revenue Funds: Community Develop-
ment
tions. At
ment, CETA, Cable T.V. and other Special Revenue funds.
In addition, budgets were not adopted for the Debt
ments amouii�
Service Fund - Incinerator Bonds. Budgeted amounts are
A summary
as originally adopted, or as amended by the City Commis-
and invest
sion through the year.
(5) Upon request of the City Manager, the Commission may
Equity in p
Exhib
transfer any part of an unencumbered balance of an
per
Deficit in
appropriation to a purpose or object for which an
Exhib
appropriation for the current year has proved insuf-
per
ficient or may authorize a transfer to be made between
Total
items appropriated to the same office, department or
division. At the close of each fiscal year, the un-
At Septemb
encumbered balance of each appropriation reverts to the
fund from which it was appropriated and shall be subject
ments rely
to future appropriations.
Center ent
constructi
(E) Encumbrances
restricted
Encumbrance accounting, under which purchase orders, con-
tracts, and other commitments for the expenditure of monies
a
46
CITY OF MLAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
)rting Practices, 2. Summary of Significant Accounting Policies and Reporting Practices,
Continued
ended September are recorded in order to reserve that portion of the appli-
cable appropriation, is employed in the General and Capital
Projects Funds. Encumbrances outstanding at year-end are
reported as reservations of fund balance since they do not
constitute expenditures or liabilities.
$ (299,096) (F) Pooled Cash and Investments
The City maintains an accounting system in which substanti-
ally all cash, investments and accrued interest are recorded
and maintained in a separate group of accounts. All such
2,407,386 cash and investments, including accrued interest and inter-
) fund transfers, are reflected as pooled cash and invest-
ments. Interest income is allocated based upon the approxi-
mate proportionate balances of each fund's equity in pooled
cash and investments. No interest is charged funds having
deficit balances.
-$� 50_ 566
Investments are stated at cost or amortized cost, which ap-
were not adopted for proximates market. All investments consist of U.S. govern -
Community Develop- ment obligations and time deposits with financial institu-
-ecial Revenue funds. tions. At September 30, 1982, accrued interest on invest -
opted for the Debt meets amounted to approximately $1,292,000.
Budgeted amounts are
-22 by the City Commis- A summary of equity and deficit balances of pooled cash
and investments as of September 30, 1982 is as follows:
the
Commission may
Equity in pooled cash and investments
bered
balance of an
per Exhibit I Assets
$76,973,558
Jbj ect
for which an
Deficit in pooled cash and investments,
_=r has
proved insuf-
per Exhibit I Liabilities
(9,158,908)
r to be made between
Ifice,
department or
Total pooled cash and investments
$67,814,650
fiscal
year, the un-
iation
reverts to the
At September 30, 1982, deficits in pooled
cash and invest-
' and shall be subject
ments relate primarily to the Parking Garage
and Convention
-jurchase orders, con -
expenditure of monies
Center enterprise funds resulting from payments related to
construction of these facilities which are reimburseabie from
restricted cash with fiscal agents subsequent to year-end.
47
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
2. Summary of SignificantAccountin
(G) Inventories
1
Practices, I
Inventories are valued at the lower of cost (first -in,
first -out basis) or net realizable value. Inventory in the
Internal Service Funds consists of expendable supplies held
for consumption.
(H) Accumulated Unpaid Vacation, Sick Pay, and Other Employee
Benefit Amounts
Accumulated unpaid vacation pay is accrued when incurred
in proprietary funds (using the accrual basis of accounting).
Such amounts have not been accrued in the Governmental fund
types.
Under terms of Civil Service regulations, labor contracts and
administrative policy, City employees are granted vacation
and sick leave in varying amounts. Additionally, certain
overtime hours can be accrued and carried forward as earned
time off. (See Note 13)
(I) Intragovernmental Allocation of Administrative Expenses
The General Fund incurs certain administrative expenses for
other funds including accounting, legal, data processing,
personnel administration, engineering and other services. A
brief description of the major components of such charges
follows:
Project management - The Public Works Department charges
major capital improvement projects of the City for
design, survey and inspection services. These charges
are based on direct labor charges plus an overhead
factor for administrative expenses of the engineering
division, and totaled approximately $1,500,000 for
fiscal 1982.
Indirect Cost Allocation - The General Fund charges
other departments and funds for general and adminis-
trative expenses to allocate certain overhead costs to
the operating departments. Such charges approximated
$750,000 for fiscal 1982.
48
I
r-. .. _. J
,
P
it of cost (first -in,
lue. Inventory in the
pendable supplies held
ay, and Other Emnlovpp
accrued when incurred
of basis of accounting).
n the Governmental fund
�ons, labor contracts and
s are granted vacation
Additionally, certain
=rried forward as earned
_dministrative Expenses
inistrative expenses for
legal, data processing,
g and other services. A
ponents of such charges
Works Department charges
ojects of the City for
services. These charges
targes plus an overhead
-noes of the engineering
:imately $1,500,000 for
ie General Fund charges
or general and adminis-
ertain overhead costs to
Bch charges approximated
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
2. Summary of Significant Accounting Policies and Reporting Practices
Continued
W Bond Discount and Issuance Costs
Discounts on revenue bonds payable are amortized using the
interest method over the life of the bonds. Bond issuance
costs are capitalized and amortized on a straight-line
basis over the life of the bonds.
(K) Property, Plant and Equipment
Property, plant and equipment used in Governmental Fund
Type operations (general fixed assets) are accounted for in
the General Fixed Assets Account Group. Public domain
("infrastructure") general fixed assets consisting of certain
improvements other than buildings, including roads, bridges,
curbs and gutters, streets and sidewalks, drainage systems,
and lighting systems, are capitalized along with other
general fixed assets. No depreciation has been provided on
general fixed assets. All property, plant and equipment are
valued at historical cost or estimated historical cost if
actual historical cost is not available, and donated prop-
erty, plant and equipment are valued at their estimated fair
value on the date donated.
Effective in 1982 (see Note 6) depreciation of all exhaus-
tible fixed assets used by the proprietary funds is charged
as expense against their operations. Accumulated deprec-
iation is reported on proprietary fund balance sheets.
Depreciation has been provided over the estimated useful
lives using the straight-line method. The estimated useful
lives are as follows:
Buildings and improvements 30-50 years
Machinery and equipment 4-20 years
Improvements other than buildings 10-20 years
Beginning in fiscal 1982, in accordance with Statement of
Financial Accounting Standards No. 62, Capitalization of
Interest Cost in Situations Involving Certain Tax -Exempt
Borrowings and Certain Gifts and Grants, interest costs
associated with Enterprise Fund borrowings (revenue bonds)
used for construction projects are capitalized as part of the
49
4IAMI:
CITY OF MIAMI, FLORIDA
�r
INA:+C1A`
NOTES TO FINANCIAL STATEMENTS
3
September 30, 1982
'
;E,pcember
Continued
r;ontin''
_
2. Summary of Significant Accounting Policies and Reporting Practices,
r
Continued
:3enda
cost of the asset, net of related interest earned on unex-
�''_..r,
me
pended portions of such borrowings. Net interest costs on
marci1 sal
current Enterprise Fund construction projects incurred prior
'
3n` ye = , ..- - _ . i =,jw
to fiscal 1982 were not material. Interest capitalized into
�cere�==,`I:eccs
construction in 1982 is summarized as follows:
:aae �''- - - - _s=��•
Total interest incurred $ 5,902,170
iru id
Total interest earned (3,602,268)
j -
Capitalized Interest $ 2,299,902
Net Ca p..;---
'
,' �� > >
i`Iz f
- t S�
(L) Total Columns on Combined Statements - Overview
- -'`''Se
r
Total columns on the general purpose financial statements
= " -_ �,` Vts
are captioned Memorandum Only to indicate that they are
presented only to facilitate financial analysis. Data in
=�`=-`: _ =-=` " G
`n
these columns do not present financial position, results of
operations, or changes in financial position in conformity-'=_c--
with generally accepted accounting principles. Neither is
such data comparable to a consolidation. Inteafund and
tan= , ch2 yea
intrafund eliminations have not been made in the aggregation
of this data. Comparative total columns for fiscal year 1981
per
have not been presented as information is not available to
adjust 1981 balances for restatements made in 1982 (see Notes
i
4.�-
6 and 11). Also, 1981 financial statements did not include
__
ids ar
the operations of the Off -Street Parkin Authority.
p g Y •
Due t r.�c:., c At Se
�
specii i- V,L:r ``'nsist
(M) Reclassifications
crow t.
Community Development, CETA and other grant funds with fund
balances at September 30, 1981 totaling $119,476 previously
reported as expendable trust funds, have been reclassified as
- - -
special revenue funds in 1982. The Self Insurance Adminis-
tration fund with a fund balance at September 30, 1981 of
$2,477,188 previously reported as a non -expendable trust
SNE" ':` r.� •tt:�•t 't I) -
fund, has been reclassified as an expendable trust fund in
1982.
vtI;V_
Proprietary Fund type retained earnings and contributed
capital, presented as a single amount in prior years, have
► L`-�� f
been presented separately in 1982.
�aE'''-"
iL
3. Property Tax
�Lt,IL uVC'.IY1 ents
1k
Property taxes are levied on January 1 and are payable on November
Eli:.ttk''' 17 ta dlu iu
:>
1, with discounts allowed of one to four percent if paid prior to
s
z ter
50
rtinQ Practices
t earned on unex-
interest costs on
cts incurred prior
t capitalized into
u's :
rview
ll
nancial statements
ate that they are
♦.alysis. Data in
siticn, results of
ticn in conformity
ci::es. Neither is
cn. _-terfund and
... t:e aggregation
fcr fisca: year 1981
is nct avai:able to
'e in :96: (see Notes
_nts did -ot include
Authority.
.rant funds with fund
S119,476 previously
been reclassified as
if Insurance Adminis-
eptember 30, 1981 of
non -expendable trust
ndable trust fund in
:ngs and contributed
in prior years, have
re payable on November
rcent if paid prior to
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
3. Property Tax Continued
P Y �
March 1 of the following calendar year. All unpaid taxes on real
and personal property become delinquent on April 1 and bear
interest at 18% until a tax sale certificate is sold at auction.
Dade County bills and collects all property taxes for the City,
and sells tax certificates.
The assessed value of property, as established by the Dade County
Assessor of Property, at September 30, 1981, upon which the
1981-82 levy was based, was approximately $7,211,000,000. The
City is permitted by Article 7, Section 8 of the Florida Consti-
tution to levy taxes up to $10 per $1,000 of assessed valuation
for general governmental services other than the payment of
principal and interest on general obligation long-term debt. In
addition, unlimited amounts may be levied for the payment of
principal and interest on general obligation long-term debt,
subject to a limitation on the amount of debt outstanding. The
combined tax rate to finance general governmental services (other
than the payment of principal and interest on general obligation
long-term debt) for the year ended September 30, 1982 was $8.95
per $1,000.
4. Due from/to Other Funds
Due from/to other funds are loans from one fund to another for
specific purposes. At September 30, 1982, the balance in due
from/to other funds consisted of the following:
Fund
General
Special Revenue:
Community Develop-
ment
Other Grant Funds
Debt Service:
General Obligation
Capital Projects:
Housing
Parking Facilities
Capital Improvements
Enterprise:
Orange Bowl Stadium
Convention Center
Due from Due to
Other Funds Other Funds
$ 34,579 S
30,000
5,903 30,000
34,579
3,086
- 212,443
1,393,409 2,727,904
- 423,250
2,722,000 754,629
$4,185_ 891 $4,185, 891
51
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
5. Due from Other Governments
Amounts due from other governments primarily represents amounts
relating to grants awarded by other governmental agencies, Federal
Revenue Sharing monies and other receivables from state and local
governments.
6. Property, Plant and Equipment
A summary of changes in general fixed assets follows:
Land
Building and
improvements
Machinery and
equipment
Improvements other
than Buildings
Construction in
Balance
September 30,
1981
$ 19,645,445
23,996,238
Additions Deletions
and and
Transfers Transfers
$ 583,000 S
Balance
September 30,
1982
- $ 20,228,445
- 23,996,238
13,911,275 3,763,451 2,568,773 15,105,953
112,572,450 10,459,784 70,868 122,961,366
progress 54,325,421 13,196,985 9,434,261 58,088,145
Total $224,450,829 $28,003,220 $12,073,902 $240,380,147
A summary of proprietary fund type property, plant and equipment
at September 30, 1982 follows:
Internal
Enterprise
Service
Land
$ 10,838,531
$ 401
Buildings and
improvements
40,102,998
4,399,945
Machinery and
equipment
2,913,677
16,843,937
Construction in
progress
77,939,135
-
Total
131,794,341
21,244,283
Less accumulated
depreciation
16,001,341
6,876,589
Net
$115,793,000
yS14,367,694
1
1
I
i 52
• j � v-
F,
r "
i�c �' �« t•[Lar` tit`
Oct.* _ L r Viz
r ' �►.
L,ucu
eu z
Oval r S
e
I
c
tit _
Ltl::i
Jaw-
_ -—
c a' c
1T J�
,1
.r
Y
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
epresents
amounts
6. Property, Plant and Equipment, Continued
agencies,
Federal
om state and local
Effective for the fiscal year ended September 30, 1982, the
City instituted a program for providing depreciation on qualifying
assets within the proprietary fund types (Enterprise and Internal
Service) except for the Department of Off -Street Parking for
which depreciation had been provided in prior years. In connec-
illows:
tion with this policy, the amount of accumulated depreciation has
been computed as of September 30, 1981. Viese amounts have been
Deletions
Balance
shown in the restatement below.
and
September 30,
Transfers
1982
In addition to the depreciation adjustment, certain asset costs
have also been changed as a result of a physical inventory and
$ -
$ 20,228,445
a related redetermination of cost for certain assets for which
detailed cost records no longer exist. Such amounts have also
-
23,996,238
been included in the restatement below.
2,568,773
15,105,953
September 30, 1981
As originally As
70,868
122,961,366
reported restated
9,434,261 58,088,145
_$12.073.902 $240,380,147
plant and equipment
►ternal
ervice
401
4,399,945
6,843,937
1,244,283
6,876,589
4.367,694
Enterprise:
Land
Building and
improvements
Machinery and
equipment
Construction in
progress
Total
Less accumulated
depreciation
Net
Internal Service:
Land
Buildings and
improvements
Machinery and
equipment
Total
Less accumulated
depreciation
Net
$ 7,965,852
24,739,571
914,536
38,091,607
71,711,566
$ 71,711.566
$ 8,401,395
S - S
3,566,252
12,307,855
15,874,107
S_15 ,.874 ,107
53
22,800,339
907,335
38,091,607
70,200,676
0 0,847,692)
59,352,984
401
4,399,944
12,407,130
16,807,475
(6,1151679)
10 691,796
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
6. Property, Plant and Equipment, Continued
The above restatement had the following effects on contributed
capital and retained earnings (fund equity) at September 30,
1981:
Fund equity originally
MEN
reported
Adjustments:
Provision for depreciation
Redetermination of certain
assets costs
Fund equity as restated
Internal
Enterprise Service
$53,520,209 $18,047,792
(10,847,692) (6,115,679)
(1,510,890) 933,368
$41,161,627 $12,865,481
7. Long -Term Debt
The following is a summary of changes in general long-term debt
of the City for the year ended September 30, 1982 (in thousands
of dollars):
Long-term debt at September 30, 19S1, as
originally reported
Adjustment for claim liabilities (Vote 11)
Long-term debt at September 30, 14n1,
as rettated
Reduction of claim liabiliti"
Capitalized lease obligati.,ns
Debt retired
Long-term debt at September 30, 1962
General LonK-Term
Debt
General
Special
Llaims
Other
Obligation
ObllKatton
Payable
Payablaa
$126,320
$ 1,215
5
S 674
_
12i765
-
12o,32u
1,21S
12,765
674
-
-
-
879
11 0,310)
(315)
-
(101)
,11•,.U10
CITY
NOTES TO
'
Se
r
7. Lon Term Debt Continue'
Bonds payable at Septemb
issues:
M
General obligation bond
7-1/2%):
g20,000,000 Police Head
bands; six issues, matu-
$22,000,000 Storm Sewer
t
nine issues, maturing
$44640,000 public Park
bonds; five
Facilities
through 2003
$51,000,000 Sanitary S
eight issues, maturing
$17,000,000 Street and
bonds; five issues, °u'
$45,085,000 Other iss'
Total
Revenue and special o-
$128,209
12,765
$60 000 Conventio
,000,
Garage Revenue bonds,
140.974
$100,000 to $4,750,OC
ranging fro,
(1,105)
at rates
879
(10,726
$10,400, 000 Parking
$5 a1
installments of
2008; interest at ra
to 13.25%
$16,775,000 Off-Str--
maturing through 20c
fr-
interest ranging
$S,U25, 000 Other re
obligation issues,
of in
varying rates
to 6.5%
54
0
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
7. Long -Term Debt, Continued
>n contributed
?ptember 30,
Bonds payable at September 30, 1982 are comprised of the following
issues:
Internal
General obligation bonds (interest rates ranging
from 1/10% to
Service
7-1/2%):
$20,000,000 Police Headquarters Improvement
.18,04 ,792
bonds; six issues, maturing through 1997
$ 12,910,000
(6,115,679)
$22,000,000 Storm Sewer Improvement bonds;
nine issues, maturing through 2011
15,500,000
933,368
$44,640,000 Public Parks and Recreation
S12.865.481
Facilities bonds; five issues, maturing
through 2003
29,090,000
$51,000,000 Sanitary Sewer Improvement bonds;
eight issues, maturing through 1997
24,335,000
long-term debt
' (in thousands
$17,000,000 Street and Highway Improvement
bonds; five issues, maturing through 1992
10,115,000
$45,085,000 Other issues, maturing through 2008
24,060,000
u*c; ---
`` or her
We116,
e Payable*
Total
O1� 0��000
Revenue and special obligation bonds:
$ 67-
77-65
$128,2o9
—12,765
$60,000,000 Convention Center and Parking
Garage Revenue bonds, due in installments of
7f5 67:
140,974
$100,000 to $4,750,000 through 2015; interest
(1,105)
at rates ranging from 6.5% to 8.75%
$ 60,000,000
- e79
e79
$10,400,000 Parking Revenue bonds, due in
__ uo11110,726
installments of $55,000 to $1,330,000 through
°�0 �'y
staff
2008; interest at rates ranging from 8.5%
to 13.25%
10,400,000
$16,775,000 Off -Street Parking revenue bonds,
maturing through 2009 at varying rates of
interest ranging from 4.5% to 11.9%
14,445,000
$5,025,000 Other revenue and special
obligation issues, maturing through 1988 at
varying rates of interest ranging from 3.4%
to 6.5% 1,060,000
$ 85,905,000
CITY OF MIAMI, FLORIDA '
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
7.
7. Long -Term Debt, Continued I
The annual requirements to amortize all bonds outstanding as of
September 30,. 1982, including interest payments of $233,921,000 I
are as follows (in thousands of dollars):
Year Ending
General
Special
September 30
Obligation
Obligation
Revenue
'
1983
$ 16,623
$ 177
$ 7,987
1984
15,585
173
8,025
1985
14,994
168
8,032
1986
14,313
163
8,081
1987
12,969
157
8,085
1988-92
49,725
153
41,458
1993-97
30,578
45,376
1998-2002
9,205
44,987
Thereafter
3,312
95,508
167 304
Sy 991
$267,539
The various
bond indentures contain
significant
limitations and
restrictions
on annual debt service
requirements,
maintenance of
and flow of
monies through various
restricted accounts, minimum
amounts to be maintained in various sinking funds, and minimum
revenue bond
coverages.
A summary of
debt service requirements follows:
General Obligation Bonds - Debt service is provided for by a
tax levy on nonexempt property value and collections on
assessment liens from projects financed V, proceeds of such
bonds. The total general obligation debt outstanding is
limited by statute to fifteen percent of the assessed non-
exempt property value. At September 30, 1982, the statutory
limitation for the City was approximately $1,081,720,000
providing a debt margin of approximately $972,322,000 after
consideration of approximately $6,612,000 available in the
Debt Service Fund.
General obligation bonds authorized but unissued at September
30, 1982 totalled approximately $137,500,000.
a
IN
CITY OF
NOTES TO Ft
Sept -
Term Debt Continued
Revenue and Special Ot
$60,000,000 Conventic
bonds - Debt service
of the Convention Ce
phone and telegraph
and agreement of the
sary, revenues of t1_+
tax revenues, suffit'
required sinking fund
the maximum annual •
30, 1982, the City h
bonds approximately
and approximately S
account.
$10,400,000 Parking
by a pledge of net
Government Center a
the City from the
exceed 125% of the
ments in any curre
must be maintained
requirement. At S
with the trustee f
various reserve a
restricted construe
$16,775,000 Off-St�
is payable solely
facilities. At S
with the trustee
various reserve
restricted constrt
56 No
I
bonds uur.�,tanaj�,� � s
Paywentf
Icial
atiOn
177
173
yf
163157
153
46-
L9.1
;-
cant-=tc:
rem:.st"1uE all"ents, ma-::e :an;a
Icted accou^;s.;_�mua
_ing funds. anc
bows:
ce is pro%.,, - : -
ue
and
_ed by procee4ts
'n debt out sz&:-, ;f
t of the assesEec
300 1982, the
-imetelY :1
ely $972,.32,,,,,- of :e:
_ , 000 avai lahie
,nteaued At Se - teethe:
10 , O00 .
I
9
■
L�J
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
7. Long -Term Debt, Continued
Revenue and Special Obligation Bonds
$60o000,OOO Convention Center and Parking Garage Revenue
bonds - Debt service is provided by a pledge of net revenues
of the Convention Center -Garage, a pledge of certain tele-
phone and telegraph excise tax revenues, and by a covenant
and agreement of the City to provide, to the extent neces-
sary, revenues of the City, other than ad valorem property
tax revenues, sufficient to make up any deficiency in the
required sinking fund. A reserve must be maintained equal to
the maximum annual debt service requirement. At September
30, 1982, the City had on deposit with the trustee for these
bonds approximately $9,290,000 in various reserve accounts
and approximately $3,200,000 in a restricted construction
account.
$10,400,000 Parking Revenue bonds - Debt service is provided
by a pledge of net revenues of the Parking Garage - Downtown
Government Center and utilities services taxes collected by
the City from the sale of water and gas in an amount not to
exceed 125% of the maximum principal and interest require-
ments in any current or subsequent fiscal year. A reserve
must be maintained equal to the maximum annual debt service
requirement. At September 30, 1982, the City had on deposit
with the trustee for these bonds approximately $3,352,000 in
various reserve accounts and approximately $6,754,000 in a
restricted construction account.
$16,775,000 Off -Street Parking Revenue bonds - Debt service
is payable solely from the revenues of the off-street parking
facilities. At September 30, 1982, the City had on deposit
with the trustee for these bonds approximately $3,900,000 in
iximately $28,000 in a
■
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
8. Changes in Agency Fund
10. Retirement Plans
The changes in the City's Agency Fund
(used to account for re-
The City sponsors t
fundable deposits by Cable T.V. licensee)
are as follows:
covering substanti
Retirement System (
Deposits held, beginning of year
$ -
and Miami City Gen
Deposits received
2,000,000
sanitation workers
Interest earned on deposits
233,739
not meet the crit
Interest refunded to depositor
(156,863)
�
statements and ther
Deposits held, end of year
$2,076,876
Admini
The Pension
each
9. Deficit Fund Equity
fund) charges
their
contributors
The following individual funds have
deficit fund equity at
(approximately $17
September 30, 1982:
disbursed by the Pe
Plan. During fisc
Fund
Amount
the actuarial requi
adopted by the City.
Capital Projects:
and the Plan were
Fire Facilities
$1,383,828
behalf of the plan
Parking Garage
181,462
quirements and othe
future pension cont,
Enterprise:
cost and a 5% per
Parking Garage
33,112
cost over 35 years,
adopted funding pol
Internal Service:
note 14). Substanti=
Property Maintenance
99,181
General Fund, and
Print Shop
114,346
pally Enterprise,
The above deficits will be eliminated
by increasing interfund
Other information r
charges, contributions from the General Fund, or using proceeds
from projected general obligation bond
sale.
Retained earnings in the enterprise funds at September 30, 1982
Date of most recent
valuation
consist of the following:
Reserved for
Present value of ac-
benefits - v-
Construction
plan
and Revenue
Bond Retirement
Unreserved Total
Present value of ac-
benefits - n-
plan
Off-Street Parking $ 3,057,226
$ 3,934,204 $ 6,991,430
available fo
Convention Center 7,902,531
(10,287,092) (2,384,561)
Assets
benefits
Parking Garage 9,119,910
(9,153,022) (33,112)
Other -
3,162,846 3,1621846
Assumed rate of ret
$20,079,667
$(12,343,064) $ 7,736,603
The Convention Center and Parking Garage were both under construc-
tion at September 30, 1982.
58
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
to account for re —
No
10. Retirement
Plans
is follows:
The City sponsors two defined benefit contributory pension plans
—
covering
substantially all employees: Miami City Employees'
0,000
Retirement
System (System) for police officers and fire fighters
3,739
and Miami
City General Employees' Retirement Plan (Plan) for
6.1863)
sanitation
workers and general employees. The System and Plan do
not meet
the criteria for inclusion in the City's financial
6
statements
and therefore report separately.
The Pension Administration Fund of the City (expendable trust
fund) charges each department of the City and other governmental
it
fund equity at
contributors their respective share of the required contribution
(approximately $17,400,000 and $500,000, respectively) which is
disbursed by the Pension Administration Fund to the System and
Plan. During fiscal 1982, approximately $15,500,000 represented
the actuarial requirements of the plans under the funding policy
adopted by the City. The amounts actually disbursed to the System
•�=t`
and the Plan were exclusive of investment managers' fees paid on
+4E=
behalf of the plans. The excess of charges over actuarial re—
quirements and other expenditures for 1982 has been designated for
future pension contributions. This funding policy included normal
,112
cost and a 5% per year increasing amortization of prior service
cost over 35 years. The City's contribution to the plans and the
adopted funding policy is the subject of certain litigation (see
,181
note 14). Substantially all amounts funded were contributed by the
.346
General Fund, and the remainder by various other funds, princi—
pally Enterprise, Internal Service, and certain grant funds.
=ncreasing interfund
or
using proceeds
Other information relating to the retirement plans is as follows:
System Plan
September
30, 1982
Date of most recent actuarial
valuation January 1, 1982 October 1, 1981
Present value of accumulated
plan benefits — vested $140,368,000 $112,994,000
-rued
--
To_
Present value of accumulated
-,204
S 6,991,430
plan benefits — nonvested $ 2,704,000 $ 3,742,000
092)
(2,384,561)
Assets available for plan
.,022)
(33,112)
benefits $103,544,000 $ 58,898,000
',846
3,162,846
_,064)
1 7,736,603
Assumed rate of return 7% 7%
ath under construc-
59
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
11. Self -Insurance
The City maintains a self-insurance expendable trust fund to administer insurance activities relating
to certain property and liability risks, group accident and health and workers' compensation.
Charges to participating operating departments are based upon amounts believed by management to be
necessary to meet the required annual payouts during the fiscal year. The estimated liability for
insurance claims includes the estimated future liability on a case -by -case basis for all pending claims
and an actuarially determined amount for claims incurred but not reported. The unfunded long-term
portion of the total estimated liability, which is expected to be funded from future operations, is
reflected in the general long-term debt account group (GLTD) and amounted to approximately $11,660,000
as of September 30, 1982 as follows:
Self Insurance GLTD
Claims Payable Claims Payable
(Current Portion) (Non -current)
(A) Workers Compensation
All workers compensation costs are paid from the self-
insurance fund, with all departments of the City being
assessed a charge based upon current cash requirements.
As claims are reported, they are investigated by claims
personnel, and an estimate of liability on a case -by -case
basis is established. The estimated liabilities are peri-
odically reviewed and revised as claims develop. Most
liability in this area will be payable over several years. S 268,216 $ 8,330,000
. . I.. ., .
insurance fund, with nil depnrtmrrrtn Of thr City bPiny,
assessed a charge based upon current cnnh requirementa.
0)
As claims are reported, they are investlynte(l by clalma
personnel, and an estimate of liability on a cage-by-caav
basis is established. The estimated liabilities are peri-
odically reviewed and revised as claims develop. Most
liability in this area will be payable over several years. 268,216
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
11. Self -Insurance, Continued
$ 8.330,000
Self Insurance GLTD
Claims Payable Claims Payable
(Current Portion) (Non -current)
(B) General Coverage
Departments of the City are assessed for property and
casualty coverage based upon the cash requirements of
the self-insurance fund and their relative share of
the total risk. The City has continued to purchase
certain casualty insurances for which the premium is
small in relation to the coverage provided.
The City is fully insured, subject to a $10,000 deduct-
ible, for all property loss exposures. As casualty
claims are reported, they are investigated by claims
personnel and an estimate of liability on a case -by -case
basis is established. 97,682 3,330,000
(C) Group Accident and Health
Employees and retirees of the City contribute through
payroll or pension deductions to the cost of group bene-
fits. The remainder of the funds necessary are contribu-
ted by the City based upon the number of participants in
the plan. The amount of claims at September 30, 1982
represents payments made by the City in October and
November on claims incurred at September 30, 1982 876,568 -
$ 1,242,466 $11,660,000
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
11. Self —Insurance, Continued
During the 1982 fiscal year, the City changed its method of accounting for claim liabilities. Prior to
1982, certain claim types were not recorded as a liability; all amounts were charged to expenditures as
paid. In 1982, claim liabilities were actuarially determined as of September 30, 1982 and 1981. As a
result of the change, 1981 claims payable balances have been adjusted to give retroactive effect to the
changes as follows:
Self Insurance
Claims Payable
N Increase (decrease) in claims payable:
Workers Compensation $ 141,905
General Coverage (2,120,698)
Group Accident and Health —
$(1,978,793) (1)
(1) Represents the increase in fund balance as of September 30, 1981.
(OZZ L —
(£Z6 £
SA£
(0L5£�-0
7-09�
_—_--
Fu•:` �'01
007 ),
S9
--
6L6�IC
1—
£
60L 7£ 17
--�—
flat 7L8
9CST—
TlOT_
LZL C
O7F
—r—T—
ZAA OSA 1
--r--T—
AZ0 671 h01
A15�
£ L --Sri
�—
ll9 9L9 £l
ZAC ZLA
T. 156 9�70 77
-- rr
ZA9 SVO i£Z£
TT—
59l 765 9
0£7 1
Z1Z
(ZI
8L£�
T_r
LS6 91Z £
C6£ �q Z
-��
966�
:-------
L68�
—
OAO 60L 9
le7td¢1 Siul�lsa+ 3aN
algef(ed 9Pu09
tau •ssa;sue» Pw 6u0111W
:1uausd1nba Pus 1uwld •dlladosd
slasss 1e101
111nba 10101
spun; laylo 10011 (01)
ela1Ne11 Lllnba Pus suo{ingljluo:)
(ssol) amoaul 1aN
GLTD
Claims Payable
S 9,732,000
3,033,000
$ 12,765,000
■
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
12. Se ment Information - Enterprise Funds p convention and
year ended September 30,
The City Maintains ten enterprise funds which tion f various recreational,
parking facilities. Selected financial information for the fiscal y
1982 is as follows:
l�prrctetionv raPrnxr
Uperac-KCb
fncumr (lossl
Nonuparrat ing true uaa seaprn5 ea)
nd uprt attnX [[taro lets
Net rncom• 1l oxsf
Contrtbutluna and equity tra[Lxters
Ito) frun� uth cr funUa
7uta1 equity
To 1 axarts
Prnper,' Plant and equipment`
pdditiona and [ransfera, nr
Bond. payable
Net uurking —Pital
Pirklag
U[f-$Irrr[
Convent tun
Ma[inax
Audll oriumx
Wlf
Gars c
Total
Park-,
SCadiu nx
--
$1 120,629
; 356.728
$ 723,156
$
S 8,917,127
5 4 672 5»7
$ 2 044 U67
12.669
_
1 524,877
_ 4:5,�•73
547,Id/^t'
151 ,/,91
147.785
[7}7.4111
(308.015)
(28.668)
(2,616,599)
1 ISU 247
(77X,7N41
�_f11. »itl)
74G,9uu
S2 d15
317 I4U
172,142
(4,444)
716,192
.46d)
»27,37:
;,55,»1S
(135, 273)
{ 33.112)
e1,880.407)
465,329
i3�iU .9121
(1 d55. y'•S,
4:y 775
{4?0,22t)
_
6.630, 76
_
3,991,
4,IUY .0
9dN.37d
(33,112)
52 437, 847
6 9y1
b 1-51,
}2 045 utl2
G3+ lv7
3 21G,957
l3 b76,6t1
155.751 212
.430
t0» 149,U _'6
I dSU Hd_
4 046 951
8J2. 382
-
'•} U42.N40
H. 1».51a
1
J,01t
41,576
—
2 d74,38d
41 340,309
I 105 :.63
329.579
3G 968 Sb5
_. yf27
10 LW.OW
85 005,000
14 »45•n0U5,915.835)
lu0,UW
.
tr0 OOUtNN1
_
129. L04
(2,323,570)
(
269.}85
{1 153 ,923-
(2 797,220)
7d1.554
—
(821,668)
'I861 10E aagmaadaS 10 so aaueTeq pun; uT aseaaauT aqj s7uasaadag (I)
0
1ng113uo0 193Tdoo ;o
Asas 3gap 10; 993sna3
93gmTxosddg pus pTos
U61 40£ aagma3daS IV
an3aa aq TTTm 3un000g
_.TnbTT—;Tas aag spuog
0192UT Pulp TwdTouTad
;o spasooad aq3 `3g9P
7s9ua8 IOU op 8202�oad
Tg3T14 31Tnq s3oapad
:03 apgQ /,q panssT aq
_,as 1guoT3TPPlp apTAoad
TTM `9mT3 03 9mT3 moa;
9q3 f2unoo aplpQ pus
'uoTITPPlp uI •amoouT
uT 'suosaad pug saTTT
ao; A3TO 8q3 ;0 spuog
aouenssT 8q3 panoaddw
q3 ` 9 L6 T fzagnaga q uI
spuog uTsnoH
tTgvTT asog3 ao; Tgnaoog
dme /C3T0 201q30 03 apgm
guT29Taa saT3uTg3a90un
oaTToo v Aq poT;Toads
p83gTmmnzog 91a3g2T1
Txoaddg ;o pun3 Tgaaun
peq AITO aq3 `Z86T 40£
o pulp A3TaoTuas s,aaAoTd
ju angaT XOTs ;o 3uam"d
.Ss AT93gmTxoaddv paaoxa
aano8 aq3 3o saaAoTdme
3TTTglpTT 3u88uT3uo3 9141
Avd uoT3009A panaoov ao;
asTadaa3uS 9q3 uT Z86T
;0 s8T3TTTgVTT PaPaoOaa
pulp A3TaoTu8s 9,99AOTd
asA 03 3oafgns `aoTAaas
iaSuT3uoO pulp s3uam3TmmoO •£T
_S
,y SUGH
AJIO
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
13. Commitments and Contingent Liabilities
Contingent liabilities relating to litigation are described in
Note 14.
Federally Assisted Grant Programs
The City participates in a number of Federal and State grant
programs, principally Federal Revenue Sharing, Comprehensive
Employment and Training Act (CETA), Community Development Block
Grant and Economic Development Administrative grants. These
programs are subject to financial and compliance audits by
grantors or their representatives.
Under the terms of these grants, periodic audits are required.
Independent financial and compliance audit reports have been
issued covering selected grants. Audits of certain other programs
have not yet been performed. City management believes that
ultimate reimbursement, if any, to the grantor agencies will not
be material.
Employee Benefits
The City has certain contingent liabilities relating to earned
employee benefits and compensated absences. The amount of
benefits earned and accumulated is governed by Civil Service
regulations, administrative policy and collective bargaining
agreements. The three categories of earned benefits are defined
as follows:
Type Description
Vacation Annual vacation earned
Earned time Additional time off earned by
hourly employees for overtime
hours worked.
Sick leave Accumulation of sick leave
allowed
Vacation time is accrued annually in arrears, subject to a limita—
tion of a maximum of 80 hours that may be carried forward from
prior years into subsequent years. The full amount of vacation
time, if not used by the employee, is payable upon separation of
I
1 64
an Sou ;T 'amT3
3UT saeaA soTad
Txem a ;o uoT3
sT amT3 uoT3e3eA
ansaT MOTS
amT3 pauae3
UOT393VA
�z
: SmOTTo; se
aqZ •s3uamaaa8e
pe 'suoTIVTn8aa
pausea s3T;auaq
T3auaq aaAOTdme
au seq A3TO aqs
3T;8u9g aaAoT
•TeTaa3em aq
-angmTaa 038mT3Tn
aq 30A Sou anetJ
an BUT30AOO panssT
-uT; 3uapuadapul
smaa3 843 18pu0
2Tau3 so 9303ue18
ns eae smeaBoad
-oaoog pae 3UWAD
Z puv 3uacA0Tdm3
tDuTad 'amwaSoad
4oT3aed AITO aqZ
a3sTssy TTeaapa3
'7I a3ON
TTRVTI 3ua8uT3u03
'O puV e3uamaTMMOD
OCT
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
13. Commitments and Contingent Liabilities, Continued
service, subject to various limitations depending upon the em-
ployee's seniority and civil service classification. The City
recorded liabilities of $87,000 and $277,000 as of September 30,
1982 in the Enterprise and Internal Service Funds, respectively,
for accrued vacation pay.
The contingent liability for accrued vacation pay relating to
employees of the governmental fund types is estimated not to
exceed approximately $5.4 million.
Payment of sick leave and earned time varies according to the em-
ployee's seniority and civil service classification. At September
30, 1982, the City had recorded accrued earned time payable in the
General Fund of approximately $882,000 for payment of city fire-
fighters' accumulated earned time, paid in December 1982 as
specified by a collective bargaining agreement. Due to the
uncertainties relating to the timing and amount of payments to be
made to other city employees for earned time and sick leave, no
accrual for those liabilities has been recorded.
Housing Bonds
In February 1976, the Commission passed an ordinance which
approved the issuance of $25,000,000 General Obligation Housing
Bonds of the City for the purpose of providing housing for fam-
ilies and persons, including the elderly, of low and moderate
income. In addition, and pursuant to agreements between the City
and Dade County, the proceeds of such bonds, as they are issued
from time to time, will be deposited in trust in a reserve fund to
provide additional security for certain housing revenue bonds to
be issued by Dade County or will be capital contributions for
projects built within city limits. In the event the housing
projects do not generate sufficient funds to service the County's
debt, the proceeds of the City's Housing Bonds will be used to pay
principal and interest. If, however, the Dade County Housing
Bonds are self-liquidating, all amounts remaining in the trust
account will be returned to the City for purposes set forth above.
At September 30, 1982, $5,900,000 of such City Housing Bonds were
sold and approximately $5,200,000 had been transferred to the
trustee for debt service reserve requirements and the City's share
of capital contributions for construction of low income housing.
65
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
13. Commitments and Contingent Liabilities, Continued
The amounts transferred to the trust account and amounts expended
for low income housing have been recorded as receivables and, due
to the uncertainty of collection and lack of collection experi-
ence, an allowance for the full amount has been established.
Revenue Bond Projects
Convention Center
During 1978, the City of Miami commenced construction of a con-
vention center, officially designated the City of Miami/University
of Miami James L. Knight International Center (Convention Center).
The total estimated cost of the Convention Center, including a
related parking garage, is in excess of $85,000,000.
The City entered into an agreement with the University of Miami
to lease space in the Convention Center for a term of 30 years,
including two 30-year renewal options, for the sum of $2,500,000,
payable as advance rent. The City has also entered into a lease
and agreement for development with a private developer, of certain
air space over a portion of the Convention Center for a hotel. In
addition, the City has agreed with a separate private developer,
to lease air space over a portion of the parking garage for a
30-story world trade center.
In August 1980, the City issued $60,000,000 of Convention Center
and Parking Garage Revenue Bonds to finance a portion of the cost
of completing construction of the project. The bond proceeds may
be used for (a) construction costs, (b) interest during construc-
tion, (c) engineering and design fees, (d) legal fees and expenses
and (e) other expenses incident to the construction of the Conven-
tion Center -Garage and the placing of same in operation. The
bonds are collateralized under the trust indenture by a first lien
on and pledge of the net revenues of the Convention Center -Garage,
certain telephone and telegraph utility service taxes and by a
covenant and agreement of the City to provide, to the extent
necessary, revenues of the City other than ad valorem tax reve-
nues, sufficient to make up any deficiency in the required sinking
fund. The Convention Center commenced operations on October 1,
1982.
w
w
w
w
w
w
■
■
■
r
NOTE`
13. Commitmentand _Contin
Parking Garage
In March 1982, the
Bonds to finance the
adjacent to the Gov
March 1982 with to=
$7,130,000. Operatio
bond proceeds are e=
tration and bond iss
during the first 18
quirements for the fi
under the bond ordin
and by a covenant is
extent necessary, re=
utility services tax=
required sinking funL_
Off -Street Parking
During April, 1980,
"Department") issue(
of the City for th
acquisition of parki
facilities. The nei
Under the terms of t
required, among othe
and charges which wl
cost of maintaining
principal and inter
bonds and (c) (real
purposes.
No Department or
outstanding debt
debt of the Depart
14. Litigation
The City of Miami Y
under the directi
Outside counsel hai
litigation referred
0
C
id amounts expended
sceivables and, due
collection experi-
been established.
struction of a con -
of Miami/University
;Convention Center).
Center, including a
), 000.
University of Miami
A
term of 30 years,
sum of $2,500,000,
ntered into a lease
veloper, of certain
ter for a hotel. In
- private developer,
-=rking garage for a
-,f Convention Center
portion of the cost
ne bond proceeds may
est dur!.ng construc-
al fees and expenses
ction of the Conven-
in operation. The
ture by a first lien
ntion Center -Garage,
,rice taxes and by a
fide, to the extent
-d valorem tax reve-
the required sinking
tions on October 1,
CITY OF MIAMI, FLORIDA
go NOTES TO FINANCIAL STATEMENTS
September 30, 1982
goContinued
P013.
Commitment and Contingent Liabilities, Continued
Parking Garage
In March 1982, the City issued $10,400,000 of Parking Revenue
Bonds to finance the construction of a 1,110 car parking garage
adjacent to the Government Center. Construction commenced in
March 1982 with total construction costs expected to reach
$7,130,000. Operations are expected to commence in May 1983. The
bond proceeds are expected to cover all construction, adminis-
tration and bond issuance costs, plus interest to be capitalized
during the first 18 months after issuance and debt service re-
quirements for the first 12 months. The bonds are collateralized
under the bond ordinance by net revenues from the parking garage
and by a covenant and agreement of the City to provide to the
extent necessary, revenues of the City derived from water and gas
utility services taxes sufficient to make up any deficiency in the
required sinking fund.
Off -Street Parking
During April, 1980, the Department of Off -Street Parking (the
"Department") issued $8,725,000 Parking Facility Revenue Bonds
of the City for the purpose of constructing a parking garage,
acquisition of parking meters and improvements to existing parking
facilities. The new facility began operation in September 1981.
Under the terms of the Ordinance, the City and the Department are
required, among other things, to establish rates and collect fees
and charges which will be sufficient at all times to (a) pay the
cost of maintaining and operating related assets, (b) pay the
principal and interest requirements of the outstanding revenue
bonds and (c) create and maintain specified reserves for such
purposes.
No Department or City assets are pledged to collateralize any
outstanding debt and the City has no liability for any long-term
debt of the Department.
14. Litigation
The City of Miami relies primarily on its legal department acting
under the direction of the City Attorney for legal advice.
Outside counsel has been retained to represent the City in the
litigation referred to in items (a), (b) and (c) below.
67
7i
CITY OF MIAMI, FLORIDA NOTE
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
14, Litigation,_ Continue -
14. Litigation, Continued
The City maint
There are a number of claims and lawsuits against the City
monies collecte-
resulting principally from personal injuries incurred on City
"pension or rel
property for which an estimated liability to the City of
opinion of cot=
$11,660,000 is recorded in the General Long -Term Debt group of
quantify the
accounts as of September 30, 1982, as described in Note 8.
City.
Various other matters of litigation are pending against the City
The City, Syste
which, in the opinion of the City Attorney, do not present a
determine if th
potential exposure to the City at this time in excess of approx-
the retirement
imately $500,000.
provisions of t
made under the
(a) Pension Litigation and Related Matters
The potential 1
cannot be dete
A class action lawsuit (Gates vs. City of Miami) was filed
being consider
on behalf of all members and beneficiaries of the City's
with respect
pension plans, seeking to require the City, for the years
1939-1975, to retroactively make additional deposits to its
In a separate
pension plans totalling in excess of $30,000,000, including
the Board of 1
interest. The plaintiffs claim that the City levied prop-
petition for W
erty taxes for "pension or relief" purposes and was requir-
to contribute
ed to, but did not, deposit all such revenues into the
amount actuall
pension fund. Instead, a portion of these tax monies was
1980. The pl
used for the City's social security contributions, the
is required to
City's required portion of premiums on group health and life
certify in ac
insurance policies, payment of judgments on pension -related
the boards.
cases, the City's workers compensation obligations, and
reimbursement to the City of pension -related expenses.
The City Co
limiting thebution
Summary judgment on liability was entered against the City
relati.
on two of eight counts of the complaint on October 9, 1979,
costs to five
upon a finding by the court that monies taxed for pension or
the City's po
relief purposes were improperly used by the City to pay off
budgeted cont
two judgments against the City and for contributions toward
ially sound,
workers compensation obligations. The City filed an inter-
appropriate
locutory appeal from the court's ruling on the two counts as
pension boar
to which summary judgment was granted. On January 20, 1981
required to
the Third District Court of Appeal affirmed in part and
its reap
reversed in part the summary judgment. The City petitioned
on
StFlo
State
for rehearing, which petition was denied. Plaintiffs
the City t
renewed their motions for summary judgment, and the City
quate and p
commenced additional discovery. Thereafter, the parties
plans, and
attempted to negotiate an out of court settlement of this
matter, which negotiations are continuing.
68
n
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
14. Litigation, Continued
inst the City
The City maintains in this action that its allocation of
curred on City
monies collected pursuant to its levy of property taxes for
"pension
the City of
or relief" purpo,es was proper. However, in the
Debt group of
opinion of counsel, it is not possible at this time to
Dote S.
quantify the amount or range of potential loss to the
City.
gainst the City
not present a
The City, System and Plan have entered into investigations to
cess of approx-
determine if the pension benefits paid to retired members of
the retirement plans are subject to the variable annuity
provisions of the City of Miami Code. No payments have been
made under these provisions which were effective in 1969.
The potential liability, if any, for past and future benefits
iaci) was filed
cannot be determined at this time. These issues are also
of the Citv's
being considered in the negotiations currently in process
for the years
with respect to the aforementioned pension litigation.
deposits to its
,G, including
In a separate action (Board of Trustees vs. City of Miami),
tv levied prop-
the Board of Trustees of each of the pension plans filed a
and was requir-
petition for Writ of Mandamus, seeking to require the City
:enues into the
to contribute an additional $4.2 million over and above the
tax monies was
amount actually appropriated by the City for fiscal year
tfon the
1980. The plaintiffs in each action contend that the City
heal
health andd life
is required to contribute the amount that the pension boards
pension -related
certify in accordance with actuarial reports prepared for
bligations, and
the boards.
lated expenses.
The City Commission in September of 1979, adopted a policy
limiting the increase in the portion of the pension contri-
October 9, 19790
bution relating to the funding of the unfunded past service
-d for pension or
costs to five percent of the preceding year's amount. It is
City to
the City's position that it is fiscally sound to limit its
pay off
ributions toward
budgeted contribution, that the budgeted amount is actuar-
filed an inter-
ially sound, that the City is not automatically required to
he two
appropriate and contribute the amount certified by the
counts as
January 20, 1981
pension boards, and that if the City were automatically
med in
required to do so, the City Commission would be defaulting
part and
City
on its responsibility for government of the City. The
petitioned
d.
State of Florida's Department of Administration has informed
Plaintiffs
the City that this funding technique provides for an ade-
_, and the City
quate and proper actuarial funding for the retirement
=r, the parties
plans, and meets the requirements of Part VII, Chapter 112,
_tlement of this
r
69
14.
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
CITY OF Ht
NOTES TO FINA►'°.
September
(;ant}
14. Lit+ ation. +=ontinued
Litigation, Continued
'
3eposited an additions
represented the differ
Florida Statutes. The City has since followed this funding
in escr
technique for 1981 and 1982.
amount avai=able
authorized the C=
The City filed a motion to dismiss the petition, alleging
court
lays interest at 10%.
that the City's contribution for 1980 was authorized by
1983.
statute and City ordinance, and that the decision as to
)n ;anuar7 ,,
the amount to be contributed to each pension plan is a
rendered an ambiguous
and/or
decision for the City Commission, and not for the Board of
.-:or renearinz
Trustees. This motion has not yet been heard or determined.
-)art-es. The -EC still
.o iwara _ attorneys
In September, 1980, the City Commission enacted amendments
amount which the City
to the City's pension ordinances. The amended ordinances
_nterest, attorneys' t-
would vest in the City Commission the duties of the Retire—
.)utcome :)i t:he 1 itigat-
ment Board and Board of Trustees for the retirement plans.
amounts ,annot Se deter
The effective dates of the enactments have been stayed
by the Circuit Court which stay was affirmed upon appeal by
;ort4on the bay
the City.
'
�easec2 �y "FC to a ►
Because this case is in such an early stage, in the opinion
The hotel compl.
loteoodwill as
of counsel, it is not possible to evaluate the likely
and _ost g
outcome of the case, or estimate the amount or range of
If :he hotel due to
damages
potential loss.
and remanded
,?ending motion for su
(b) Bayfront Land Litigation
:Iarch, !983. In the
If Dotential loss can
The City was involved in a "quick take" eminent domain
action to acquire 32.64 acres of bayfront land owned by
c; ;ther
the Florida East Coast Railway Company (FEC). In March,
1978, a trial court entered an Order of Taking and an Order
-he City is a defers
of Necessity, vesting title to said property in the City,
e11eRdaT in Federa
subject to a Stipulation entered into between the parties.
al mg rot damages
In accordance with the Order of Taking, and the Stipulation,
-position ;,as been an
the City deposited $14,500,000 in escrow with a local
in the opi
depository which was invested in certificates of deposit.
iowPver, ,
_w
likely
�Iuate the
In March, 1981, a jury trial on valuation resulted in a
amount or range of p
verdict awarding the FEC $23,350,000 for the property.
It of even
An amended judgment was entered on June 8, 1981, with 10%
r
As a esuf
interest to accrue thereon as of April 2, 1981. The City
:;0 i 982 , certain
filed an appeal, with respect to the issue of interest,
lity, primarily Wit
if
contending that no interest was due until the City was
potential loss,
authorized to take possession of the property. On November
able outcome, canno
13, 1981 the City took possession of the property and
70
IN
CITY OF MIAMI, FLORIDA
NOTES TO FINANCIAL STATEMENTS
September 30, 1982
Continued
14. Litigation, Continued
deposited an additional $1,699,929 into escrow, which
ollowed this funding
represented the difference between $23,350,000 and the
amount available in escrow on November 9, 1981, the day the
court authorized the City to take possession, plus three
petition, alleging
days interest at 10%.
was authorized by
the decision as to
On January 11, 1983, the Third District Court of Appeal
pension plan is a
rendered an ambiguous opinion which resulted in petitions
of for the Board of
for rehearing and/or clarification being filed by both
heard or determined.
parties. The FEC still has the right to ask the trial court
to award it attorneys' fees and court costs. The ultimate
n enacted amendments
amount which the City may have to pay FEC for additional
e amended ordinances
interest, attorneys' fees and court costs depends upon the
uties of the Retire-
outcome of the litigation. In the opinion of counsel, such
he retirement plans.
amounts cannot be determined at this time.
s have been stayed
irmed upon appeal by
A portion of the bayfront property described above was
leased by FEC to a hotel company for construction of a
hotel. The hotel company filed a suit claiming lost profits
stage, in the opinion
and lost goodwill as a result of delays in the construction
evaluate the likely
of the hotel due to the litigation involving the property,
- amount or range of
and demanded damages in excess of $1,500,000. There is a
pending motion for summary judgment scheduled for hearing in
March, 1983. In the opinion of counsel the amount or range
of potential loss cannot be determined at this time.
ake" eminent domain
(c) Other
yfront land owned by
-iy (FEC). In March,
The City
is a defendant in a lawsuit, pending
on the trial
�f Taking and an Order
calendar
in Federal Court, asserting Federal
and state
-property in the City,
claims for damages for alleged wrongful death.
The City s
between the parties.
position
has been and continues to be a denial of liability.
and the Stipulation,
However,
in the opinion of counsel, it is not
possible to
escrow
w with a local
evaluate
the likely outcome of the case, or
estimate the
tes of deposit.
tificaamount
or
range of potential loss.
cation resulted in a
�0 for the property. As a result of events which occurred subsequent to September
_ne 8, 1981, with 1y. 30, 1982, certain claims have been asserted against the
1 2, 1198 The City City, primarily with respect to alleged wrongful death. The
:e issue of interest, potential loss, if any, resulting from a possible unfavor-
u issue
the City was able outcome, cannot be determined at this time.
--roperty. On November
of the property and
71
F.% n-ti
&.1 4 0 ( (I ..
NK
� SUPPLEMENTAL
COMBINING &
INDIVIDUAL
FUNDS
STATEMENTS
73
e3--37e
GENERAL
FUND
The General Fund is a member of the governmental fund
category, and as such, is accounted for on the modified
accrual basis of accounting. Revenues are recognized in the
general fund when they become measurable and available as
net current assets. Expenditures are generally recognized
when the related fund liability is incurred.
The General Fund is the general operating fund of the City. It is
used to account for all financial resources except those
required to be accounted for in another fund.
75
CITY OF MIAMI, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE - BUDGET (NON-GAAP BUDGETARY BASIS)
AND ACTUAL
YEAR ENDED SEPTEMBER 30, 1982
Revenues:
Taxes:
Property tax collections,
including penalties
and interest
Business and excise taxes
Licenses and permits:
Business licenses and
permits
Construction permits
Intergovernmental:
Federal grants
State grants
Other
Intragovernmental:
Engineering services
Administrative charges
Charges for services:
Public safety
Recreation
Sanitation
Other
Interest
Budget
$ 62,633,367
25,635,543
88,268,910
6,292,675
45,000
6,337,675
51,480
41,000
15,084,509
15,176,989
1,666,500
13.000
1,679,500
3,523,172
296,300
6,563,000
2,260,527
12,642,999
Actual
$ 61,865,044
25,592,557
87,457,601
5,413,214
38,925
5,452,139
91,411
100,169
15,911,128
16,102,708
1,646,152
136-266
1,782,418
3,302,129
218,663
6,841,264
1.157.336
11,519,392
SCHEDULE A-1
Variance
Favorable
(Unfavorable)
$ (768,323)
(42,986)
(811,309)
(879,461)
(6,075)
(885,536)
39,931
59,169
826,619
925,719
(20,348)
1210266
102,918
(221,043)
(77,637)
278,264
(1,103,191)
(1,123,607)
1,135,737 3.363.101 2.227.364
(Continued)
c, " "I-%
t "0-, `i
77
CITY OF MIAMI, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE - BUDGET (NON_GAAP BUDGETARY BASIS)
AND ACTUAL
YEAR ENDED SEPTEMBER 30, 1982
Other revenues:
Sale of land
Rents
Miscellaneous
Total revenues
Expenditures:
General government:
Mayor and commission
City manager
City clerk
Management and budget
Finance
Legal
Civil service
Human resources
Community development
Tourism and promotion
Computer and communications
Public safety:
Police
Fire
Public improvements:
Public works
Building
Planning and zoning boards
Sanitation
Budite t
1,220,884
500
1,221,384
126,463,194
4529069
1,967,922
485,025
1,145,536
2,474,019
1,086,496
163,069
1,403,861
699,588
9149102
3.978.503
14,770,190
46,333,015
29,315,430
75,648,445
11,466,001
29373,444
881,967
14.721,412
19,022,359
78
Actual
$ 602,533
1,320,723
205,328
2,128,584
127,805,943
440,770
11913,760
481,070
1,080,841
2,492,944
1,082,859
1500228
1,298,105
719,961
657,108
3.532.408
13,850,054
45,7bb,593
29,012,583
74,779,176
10,552,779
2,172,114
8321547
13.557.440
19,351,877
SCHEDULE A-1
(Continued)
Variance
Favorable
(Unfavorable)
$ 602,533
99,839
204.828
907,200
1,342,749
11,299
54,162
3,955
64,695
(18,925)
3,637
12,841
105,756
(20,373)
256,994
446.095
920,136
5bb,422
302,847
869,269
913,222
2012330
49,420
14163.972
C329,518)
(Continued)
In
In
on
IN
on
on
on
C�
C I.1
STATEMENT OF Ri-
IN FUND BALANCE
��
Culture and recreation
Other:
Employee benefits
Special programs
Miscellaneous
Capital outlay
Total expendit
Excess (deficiency) of r
over expenditures
Other financing sources
Operating transfers in
Operating transfers ou
Total other fi
sources
Excess (defic
of revenu
other fin
sources o
ON expenditu
other use
Fund balance at beginni
of year
Fund balance at end of
SCHEDULE A -I
(Continued) SC'iRPULE A-1
(Continued)
CITY OF MIAMI, FLORIDA
GENERAL FUND
STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE - BUDGET (NON-GAAP BUDGETARY BASIS)
AND ACTUAL
YEAR ENDED SEPTEMBER 30, 1982
Variance
Favorable
Variance
kl'nfavorable)
Favorable
Budget
Actual
(Unfavorable)
602,533
Culture and recreation
$ 6,946,310
$ 7,133,456
S (187,146)
99,839
204,828
Other:
Employee benefits
1,185,073
1,229,423
(44,350)
907,200
Special programs
942,950
1,387,097
(444,147)
Miscellaneous
4,276,878
4,207,695
69,183
1,3423749
6,404,901
6,824,215
(419,314)
Capital outlay
1,116,502
1,055,175
61,327
11,299
54,162
Total expenditures
138,630,119
136,551,393
21078,726
3,955
Excess (deficiency) of revenues
,5
18
(4,695)
over expenditures
(12,166,925)
(8,745,450)
3,421,475
3,637
Other financing sources (uses):
12,841
Operating transfers in
8,695,559
9,938,406
1,242,847
105,756
Operating transfers out
(1,225,222)
(1,142,390)
82,832
(20,373)
256,994
Total other financing
4461095
sources (uses)
7,470,337
8,796,016
1,325,679
920,136
Excess (deficiency)
of revenues and
other financing
Sbb,422
566,422
sources over
expenditures and
869,269
other uses
(4,696,588)
50,566
4,747,154
Fund balance at beginning
913,222
of year
6,006,068
6,006.068
-
201,330
1,309-480
S 66056 634
4 747.154
49,420
1,163,972
Fund balance at end of year-
+
(329,518)
(Continued)
( 3
79
JK
w
� SPECIAL
� REVENUE
2 FUNDS
The Special Revenue Funds area member of the governmental
fund category, and as such, are accounted for on the modified
accrual basis of accounting. Revenues are recognized in the
special revenue fund when they become measurable and
available as net current assets. Expenditures are generally
recognized when the related fund liability is Incurred.
The Special Revenue Funds are used to account for the
proceeds of specific revenue sources (other than special
assessments, expendable trusts or major capital projects) that
are subject to certain legal restrictions.
81
83 -3'76..
T
:r
ASSETS
Cash and cash equivalents
Accounts receivable
Due from other funds
ID�ts
Due from other gr
prepaid expenses
Total assets
LIABILITIES AND POND 9A1wNCE5
Liabilities (equity) Deficit (eq y) in pooled cash
and investments payable Vouchers and accountincayalle salaries)
Accrued expenses (P
Due to other funds
Due to other governments
Deferred revenue
Deposits refundable
other payable*
Total liabilities
Fund balances:
unreserved - -designated
Total liabilities and fund balances
CITY OF MIAMI. FLORIDA
SPECIAL REVENUE VMS
COMSININC gAUNCE SHRET
SErrMER 30, 1982
Downtown Federal escue Community
nt Revenue Mice
Development ceErvices OeveL�P=?nt
A!! 0rity Sharin
$ $
$ 8,592 $ - _ 52,062
- - 30,000
914,364
49,819 2,484,601 _
8 484 _
5 O
$2,466,173 $ (293,207) $173,836
S _ _ 7,205 766,030
19,599 - = 56,370
190
23,917
43,760 �-
262,085) 996,166
63.359 2 46ti,1J3 (
18,428 262,0S1 =
3,536 -
c G& 4B 6 � e946�426
SCHEDULE e_-1
Cable Other
Funds Total
CETA T.V.
$ 8,592
$ - $ $ 18.244 87,140
16,834 5.903 35,903
393,489 4,170.859
328,586 11,314 25,767
�--
950
e�i.-
ama��
$(292,935) 8(1,700,000) $ (303,191) $ 50.676
70,364 313 149,234 1.012,745
35,002 105,635
14.263 _ 30000 30,000
_ 3:738 497,003
493,265 292,555 358.987
66,432 92,558 92,748
- - _ 67,677
299 89b 2 215 411
3513389 (1 69y 687) -
129, 554 2 112,790
1 691 687 - -
c4 +2 _2bl
SCHEDULE B-2
CITY OF MLAMI, FLORIDA
SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCES
YEAR ENDED SEPTEMBER 30, 1982
Downtown
Federal
Development
Revenue
Rescue
Community
Cable
Other
Authority
Sharing
Services
Development
CEU
T.V.
Funds
Total
Revenues:
Property tax collections
$541,613
$ -
S -
$ _
$ _
$ -
900,000
$ _
$ 541,613
2.304.949
business and excise taxes
181,153
9,280,764
1,404,949
-
12.887,009
1,048,745
-
3,819,295
27,216,966
Intergovernmental
20,405
2,540
800.000
822.945
Other
743,171
4,280,764
1,407,489
12,887,009
1,048,745
1,700,000
3,819,295
30,886,473
Total revenues
Expenditures
-
-
1,256,363
-
-
-
_
1,581,554
Public safety
-
-
-
,
Culture and recreation
5R1,554
-
-
-
-
-
I2,945,407
1,Q66,880
-
4,031,75
18,171044,,0
Grant and related expenditures
-
313
9047
171- 4
OD Other
171,634
-
is
Total expenditures
753,188
-
1,256,363
12,945,407
1,066,890
313
4,031,753
20,053,904
Excess (deficiency) of revenues
(10,017 )
9,280,764
151,126
(56,398
(18,135)
1.694.687
(212,458)
10,832,569
over expenditures
Other financing sources (uses):
-
-
322,500
322,500
Operating transfers in
19,038,406)
-
(12,0001
(11,931)
(9,962,337)
operating transfers out
Total other financing sources (uses)
(9,938,406)
(12,000)
310,569
(9,639,837)
Excess (deficiency) of revenues and
other financing sources over
(657,642)
151,126
f70.398)
(18,135)
1,699,687
98,111
1,192.732
expenditures and other ubes
(10,017)
13,553
616,070
110,459
70,398
18,135
-
30,943
920,058
Fund balances at beginning of vear
Fund balances at end of year
��}¢
S 18.428
S ''?62.085
S
S -
51-6�99�687
L1�
S 2.112.790
IkIH,1-1" I I I I I I I I Z i i A %
SCHEDULE B-3
CITY OF MIAMI. FLORIDA
DOWNTOWN DEVELOPMENT AUTHORITY. RESCUE SERVICES AND FEDERAL REVENUE SHAEING SPECIAL REVENUE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CBANCES
IN FUND BALANCE - BUDGET (GAAP BASIS) AND ACTUAL.
YEAR ENDED SEPTEMBER 30. 1982
Downtown Development Authority
Rescue Services
Federal Revenue Sharing
Totals
(Memorandum Only)
Variance
Variance
Favorable
Variance
Favorable
Variance
Favorable
Favorable
Budget
Actual
(Unfavorable) Budget
Actual
(Unfavorable)
Budget Actual (Unfavorable)
Bud&at
Acrwl
(Unfavorable)
Ravewas:
Property tax collections
$541,439
$541.613
$ 174 $ -
1.324.209
$
1.404,949
S _
80,740
- _ -
$ - $ - S -
S 541.439
1,324,209
$ 541.613
1.404.949
$ 7
80.740
Bwineas and excise U:na
Intergovernmental
-
299.975
-
181,153
(118,822) -
-
2,540
8,670.559 9,280.764 610,205
8,970,534
4,658
9.461.917
22,945
491.383
18,287
Other
4,658
20,405
15,747 -
2,540
846 072
743.171
(102,901 1,324,209
1,407,489
83,280
8,670,559 9,280,764 610,205
10."0.640
11,431,424
590-584
Rxce.a of rrveneea and
rir„tf:r
1,639 ,A8r ,8,111
1,192,732
rr�, fvg
ite(defta—Y)
Mr IIn.nrf.g amltces o iin,f li ti rr.S l,t,47! i'.I,17l. ! ver
and nth- u.ee
I0 ,94)
920,051
expenditure.
1. tr,n r�i Ilri ,',•,'! Hr, 3.lv
fl 11.e
_.____— _
4 2-112.740
Pund balances at beginning of
re.r
- -'
;t..�n.r1�n Lim
r,,,5 Sxr L. 111 514
Fund balance. at end of year
IL IL
SCHEDULE 3-3
CITY OF MIAMI, FLORIDA
RESCUE SERVICES AND FEDERAL REVENUE SHARINGSPECIAL REVENUE FUNDS
110b7I, DEVELOPMENT AUTHORITY,
EXPENDITURES AND CHANGES
Coma, NING STATEMENT OF REVENUES,
IN FIND RAIANCE - BUDGET (GAAP BASIS) AND ACTUAL
YEAR ENDED SEPTEMBER 30, 1982
F decal R •anus SherinR _ Tot
1 (Me or ndun Only) —
Variance
nt Authority Reecue Services
20 ,f-� Variance
Variance
Favorahle
Favarab le
(Unf rab�
V.ria-a Favonb)e
favor ble
(L' favorable) Budget
Acruel (Unfavorable)
Accuat
Act_._al (URfxwtxble) Budget Act___at
Budget
$ - $ 541,439
$ 613 $
274
80 740
Ravenna.:
$541, 439
$ ,. $ $
$541,613 $ 174 $ - G04,949 80,740 -
1,324,209 ). 8,610,559
$ _
9,280,764
l,)10:209
610,205 8.970, 534
I,404,949
404
9,461,917
22.945
491,383
18,287
Property tax collection.
Rusims. and excise telex
-
299.975
- -
181,153 (It8,832)
2,540 2,540 -
4,658
Tntergovern.ental
4 6
20,405 1547 -
8 670 59
9,280,764
610.205 10 840.840
I1 431.424
_
Other590.Stl
646,072
743,171 102 901)1,324,209 1 407.489 83,280
61,846
Total "-.-a
_258,879
- 1.324 209
1,256.353
5.639
l tures!
3 67.546 -
_ _ 1,324,T09 1,256.36- _
_
587:193
581,554
t71.634
87.245
Expend
Public aafetY
Culture and recreation
-
587,193
_
581,554 5,639 _ -
171,634 87,145 -
2,110,281
2 009 551
L60.730
Other
158,079
92,884 1324,209_ 1 256.36] 6T-846 -
'
_
itua
Total expemre
846.072
51 3,198
610,205 8,670,559
9,421,873
751,314
� Exce.a (deficiency) of
151,126 i5L,136 8,670,559
9,280,764
pt revenues over
expenditurex9
-
(L0,017) (10.017) -
1 267 847 (8,670,559)
938.406)
( —
(t 267.847)
-(B.D70,559)
438 4O6
other finaming (uses):
operating tranefer. out
-
Exce.s (deficiency) of
( 651.642) -
(516.533)
(5t5,533)
veoue. over
xpeUditure. and
151.126 151.126 -
(10,017) (t0,017) -
(657,642)
70
_ 800.582
800.582
-
other urea
-
110,959 - 676.070
t10.959 +
676
a 2tw_04
C5 5 Sk(i)
13,553
13.553
671-070
c 18.4
Fund b.l.m. at beginning of Year
< Li 54
sfi ) 410 95 5
Food bal.me at end of year
AA K
DEBT
SERVICE
FUNDS
The Debt Service Funds are a member of the governmental
fund category, and as such, are accounted for on the modified
accrual basis of accounting. Revenues are recognized in the
debt service funds when they become measurable and
available as net current assets. Expenditures are generally
recognized when the related fund liability is incurred. One
exception to this rule is principal and interest on general long-
term debt which is recognized when due.
The Debt Service Funds are used to account for the
accumulation of resources for, and the payment of, general
long-term debt principal, interest and related costs.
631"" 3M.
87
m
SCHEDULE C-1
CITY OF MIAMI. FLORIDA
DEBT SERVICE FUNDS
CQ48INIRG BAIARCE SKEET
SEpTEKaR 30, 1982
Utilities
Geo-ral
Orange
5-1
IncBond. of
Se—tcs
Total
Obligation
Bonds
Banda
I_ Bonds
ASSETS
Bonds
$365,578
$943,054
$ 10,590,200
$ 8,615,454
$406,109
Equity in pealed cash and investments
475,204
Recet vabl-r.
475,204
119,867
Tares
119.857
_
71
A.... meet liens
e16
S9. f3-OS9
Total *meet•
LIABILITIES AND FUZE/ EA CES
$ _
$ 34,579
Liabilities:
$ 34,579
$
$ _
2.815,443
8,899
Due to other funds
2,815,443
315
Natured bond- end interest peyabt*
6,584
2 R58,921
Other payable.
2,85y
Total liabilities
177,675
I17,675
Fund balsa¢--:
Reserved for debt service
I, t00,000
7 048.675
Unreserved:
expenditures
1,100.000
406109
365 8
765.069
Deeig*sted for -ub*e9ueut year's
5,511,919
y 326,350
Undesignated
406 109
365,578
942,744
—
6�oi, 1,+919
1ES
Total fund b.laac-■
._
e40�
eA
59=
U1
Total liabilities and fund bale—
e 9 474 525
SCHEDULE C-2
CITY OF MIAMI, FLORIDA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES,
EXPENDITURES,
AND CHANGES IN FUND BALANCES
YEAR ENDED SEPTEMBER 30,
1982
General
Orange
Utilities
Obligation
Bowl
Incinerator
Service
Bonds
Bonds
Bonds
Tax Bonds
Total
Revenues
Property tax culletttuns
512,175,446
$ -
$ -
$ -
$12,175.446
Interest
1,887,379
76,577
22,777
106,411
2,093,144
Assessment lien collections
1.790,006
1,790,006
Other
2,119
2.119
Total revenues
15,854,950
76,577
22,777
106,411
16,060.715
Expenditures:
Principal retirement
10,310,000
165.000
-
150,000
10,625.000
CD O Interest and fiscal charges
7,129,568
6,835
-
32,625
7,169,048
other
85,446
315
85,761
Tocet expenortu.ea
17,525,U34
171.835
-
182,940
17,879.809
Excess (deficiency) of revenues
over expenditures
(1,67U.Odii
195.258)
22,777
(76.529)
(1,819.094)
Other financing sources:
Operating transfers in
-
-
186,125
186,125
Excess (deficiency) of revenues
and other financing sources
over expenditures
(I,t;u,u84)
(95.258)
22,777
109,596
(1,632,969)
Fund balances at beginning of veer
8,282,003
50I,367
342,801
833,148
9,959,319
Fund balances at end of year
L--t"LL919
!sQ Q4
4z6,5 578
S 8.326.350
In I I I I 111 It It It it, it it -
!CH MU C-3
CITY OF MIAMI. FLORIDA
DEBT SERVICE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND CHANGES
IN FUND BALANCE - BUDGET (GAAP BASIS) AND ACTUAL
YEAR ENDED SEPTEMBER 30, 1982
General Obligation Bonds Orange Bowl Bonds _U1111ties Service Tax Bonds Total
Variance Variance
Favorable Favorable Variance Variance
Budget Actual (Unfavorable) Bud et Ae[wl Favorable Favorable
_$_ (Unfavorable) Budget Actual _ _.�� (Unfavorable Budget Actual (Uafevoeeble)
F.xresa W-fictenr Y) of re--. 7;Hr 77,777 _.4�2.`C.=��h
wmt rather fln.ncSnN am,rt sa t� ,, 1!�,,�k41 ('7 i,..
raver •xpendi n.r«x i1 7 Hrji _g)�lr`�, 9 959.319
Fund balance. at he xl rani nx nl vt r
11.Y(3 i4As.=uJ .1+i«iL'+ i:P1t.G.�1
FunA M1+iwnces ar end ,.f v
SCtffi_ — G3
CITY OF NLViI, FLORIDA
DEBT SERVICE FUNDS
CONSIN INC STATENENI OF REVENUES, EXPENDITURES AND CHANCES
IN F11ND BALANCE - BUDGET (CRAP BASIS) AND ACTUAL
YEAR ENDED SEFIEI®ER 30, 1982
-- Total
iti Lsa Service Tax Bonde Variance
Ora a govl Bonds Valuate Favorabte
General Obll anon Bands variaor. P.-rable Unf vorable)
Yariancc FavorableAct"
Fa vor•b Accuai (Unfavorable) BudNeL
Budget Actual (Unfavorable) BudxeC Acc�af (U Eavoca6le) eud_gtc151,259
$ $12,018, 187 $12,1T5,446 >
$ 500:000 2, 070,367 (1,429,633)
Be—...: 157,259 S 76.577 106,411 106,411 1, 200, 000 1, 190,006 590,006
$12,018,18T 512,175,446 $ 612,621) - 7b,577 2 119 2.119
Property tax collections 3, 500 DO 1, 887, 379 (t, - _ - _ - -
interl+[ 790,D06 590:006 - »
1,200:000 l' 2.119 _.t19 L6 037.938 (680, 149)
As+c.ssr:nt lien colltctt-n -
Other _ 76.577 T6 5T7 - 106 411 106.421 16 7i8a1 _
15,854,950 (863,237)
l6 73ft.t87 625,000 -
Total revtnuee 150,000 - 10,625,000 17. 29,159
I50,000 7,i98,807 7,159_,l
E:pendtture+: 310,000 - 165,000 165,000 625 32,62 -315 205.600 85.T61 tt9.839
t0,310.000 t0, 29,829 6,765 6,835 100) 33,500 3,135
Priori Pal retfr...nt 7,159,417 7,129,588 - 2. 300 149.598
200,000 85,446 _ �14�.554 2.300 t8 029.407 17,879,809
Interest aM ELcsl chrtges
to Other 144.383 173.865 171,835 2.030 186.125 182.940 3 1
17 669,417 17 525.034
Total expendttssrea
y jg) T8,601 (186,t25) (76,529) 109,596 (1,311,220) (1.841.871) (530,651)
Excess (deficiency) of
revenue• over (951,730) (1,670,084) (718,354) (173.865) (95, 186,125
..p.nditures 186.125 186,125
206.125
OtMr financing .ourceu
Operating transfer+ in
£xces• (deficiency) of 125,095) tL,b55,746) (530,651)
revenue. and other y 258) 78,607 - 109,596 109,59b (1, -
fit•+-tng .-less 670,084) (718,854) (173,865) ( 5, - 9 616,518 9 616.518
ovec expenditures (951,2]0) (1, 8282.D03 8.282.003 833,148 833.148
_ 501,367 501.767 - c d.491_ S � t r530_b5 L)
g, _7 s109"59 _ 7_960 T72
Fund balance at beginning of Year S405 IQ S__Z;L45ll.
F." b.lanct at and of year US � ''��—'-'�
m
�y
w.2
r. r
0go
CAPITAL
PROJECTS
FUNDS
The Capital Projects Funds are a member of the governmental
fund category, and as such, are accounted for on the modified
accrual basis of accounting. Revenues are recognized in the
capital projects funds when they become measurable and
available as net current assets. Expenditures are generally
recognized when the related fund liability is incurred..
The Capital Projects Funds are used to account for financial
resources to be used for the acquisition and/or construction of
major capital facilities (other than those financed by
proprietary funds). Examples of such major capital projects
would Include, but not be limited to, construction and/or repair
of storm sewers, sanitary sewers, highways improvements, fire
stations and park and recreation facilities.
0
83-3 : C.-
CITY OF MIAHI, FLORIDA
CAPITAL PROTECTS FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30. 1982
$Deefel
General Obli anon
Obliget ion
Police
FarYa end
Aecseation
Highway
Fire
ouH
FacAtng
Facilities LClec
Revolving
_
Cepitai
i�mcevementa
Total
Storm
SanitacY Pollution
Control Facilities
Facilities
Io4rovemenes
Facilities
Sideuetka
ASSETS
Severe
SNlrs
8,65
$2},ry44 $2,198,650
$ 30,9g1
$l4 986
$21,481.986
$36,558,221
Equity Sn pooled cmah and
$4,406,027 $812 ,284 $2,450.544
$3,413,894
$142,559
$(1,375,860)
iwes[e,anp
$2,777,456
65,114
65,134
-
-
14,617
-
14,617
aetsivables:
_
- -
-
_
_
_
-
_
- _
-
_
_
-
297.747
297,747
1,393.40
Actrnmts
Asaaeseent lima
_
_ -
_
-
_
-
1,123.409
Due free, ethar govartoeate
-
_ _
_
-
iTRl
s� 6_
9'18.329 l U
Due from otber foods
-
" i-tin S4»'
ii 41t _84
i75.8 �0)
�y�,,6i0
Total useu
a2 j�i7,4566
`iilaio6.ax7
*e1tS A�J FLnID BAI.ANCPS
$ )3
$ 802,245
$ 2,150.125
Llabllittea:
$
$ 70,285
$ 4,352
$ - $ 4,6J5
977
$ -
_
-
3,113
93,243
voucbers and acc000ts
$ 244,236
$1,021.144 $ -
$ 315
85,537
3.616
-
payable
Accrues "maNu
-
_ -
212.443
2 727.904
2,943,433
40
-
_
3,986
8,738
212,443
33
3,533,262
5,187,001
Due to other foods
}15
88,577
79,285
7,968
_
Total Itab111ttea
244.236
1.02t.144
-
_
4,281,576
Pun, fo (daficiq:
77T,272
2,085,826 -
11,428
75,474
13,260
985.163
- 364,653
- 1,825,259
'
_
t9,705,)19
7I,224.140
(2 36b. 184)
Reserved for desiguete N
gryg
Uercforved - deafgaated
1,299,057 812 ,289
2,4I8,807
3, 299,343
89.024
-
-
(2 368.991)
23,699 -
18( 1,462)
160 570
Eoc approved protect■
- ondeaignstsd
I,755,948
-
_
160,570
19 105.019
33,142,
Uoreasrved
122.284
(1 381,e28}
23.699 2 189.9t2
(t81.4b2)
Total fund Wlances
2 57).220
7 184.883 812.289
2,450,229
3,325,)17
t38 l 9 lla
(drficit)
<,.
ycar�6tfaarle)
iNaaeam +wsea+""�'
Total iales and
S)
e4 4�
2
fund n0 b.1balances
7�
SLUkDULE D-2
CITY JP M1Al0. , FLJKI D&
CAPITAL PKWECPS FUNI)S
COMBINING STATLMENT OF KEVENUES. F7CPmn,rum: -%mv
LHANG19i 1N FUND KALANUS
YEAK MzD SLrrhmBEK 30, 1962
l:enerdl
Jbll.cacl�u
_�
Special
Parka dnd
Jb14c4Li.,u
j tOLID
SintCY[^.
PcllutiJn
Police
KCCredtlJll
H16hwav
Fire
i'drlciud
Kewolviug
Cdpital
Sewers
Sewers
:LmEry! Facilities
Fdctlltlea
'Improyewenty
F-11itiu
Sidm+alks
Uuain
t''aI;ilitles
Fun,I
1wpryycmcuLa
IULd
Revenues'
9 310,089
$ 457,45o
5 b..4'5 $
1K4,211
$ 319,296
$ 166,366
5 -
$ 1,730 $
024,079
$ 3d,272
$ 9,211
9 3.31,957
3 5,156,17J
Interest
e,331,W9
0,331,W9
Franchise taxes
-
-
-
431,413
431,413
htergovernmental
-
-
-
-
115,3ro
591,7JJ
1d,orJ
-
+o1,b49
-
(1,5L91
bdd.704
1.906,02
Other
31.9d:
151
-
-
3»2,070
457,607
0+.475
164,211
434,644
09o,Jd0
16,040
1,730
1,065.72d
36.272
7.642
1U,994.0d3
14.325.244
Expenditures - capital projects
1,897,305
4.401,489
39,072
120,270
2,U0',7d3
972,290
_ 004,474
_ -
2.5.39.549
74,346
-
d.U25.923
2UA03.614
Excess (deficiency)
of revenues over
24,S03
b7,941
(1,b33,134)
(270,21U)
(0r0.3391
1.730 j
1,453,tS:1)
13o,076)
1,b92
160 2.9od.
_i 0.47d.370)
expenditures
-_1,555.2351
(3.943,662)
Other financing sources (uses):
Operating transfers in -
Op Operating transfers out
Total other financing
sources (uses) - -
Excess (deficiency) of
revenues and other
financing sources
over expenditures
and other uses (1,555,235) (3,943,86:)
Fund balances (deficit) at
beginning of year 4,922,455 7,326.765
Equity transfers from (to) other
funds (834.000) -
Fund balances (deficit)
at end of year " S 93_3tl4_tltl3
21,200 21,200
(75.OW) (75,000)
(53.8 W) (53,900)
24,dU3 03,941 (1,033,139) (276,21J) (040,339) 1, U0 (1,r53,tl21) (30,070) 7,042 2,914,3bu (o,532,170
787,48b 2,38o,266 4,985,450 2,400.494 I.!39,511 21,401 3.b43,733 (L45.160) 152.06 L5,23U,159 43.013.802
(27.UW) 12,062,000) (1,977,UUJ) ----= -= - 1,500.500 0,339.5w)
S2.4SU_224 1i 't2ti ill 1:2-ICY '11.,4:LL1 n�tf) �.2yIIY1! atld��_4��-'1 516 514.7 0 533_142.132
ENTERPRISE
FUNDS
The Enterprise Funds are a member of the proprietary fund
category, and as such, are accounted for on the accrual basis
' of accounting. Revenues in the enterprise fund are recognized
when they are earned and their expenses are recognized when
they are Incurred.
i The Enterprise Funds are used to account for operations that
are either financed and operated in a manner similar to private
business enterprises or where the governing body has decided
that periodic determination of revenues earned, expenses
Incurred, and/or net income is appropriate for capital main-
tenance, public policy, management control, accountability,
a or other purposes.
'M
83-3'7f ...
97
CITY OF MIAMI, FIARIDA
ENTERPRISE FUNDS
COMBINING BALANCE SLEET
SEPTEMBER 30, 1982
SCHEDULE E-1
Orange
Off -Street
Marine
Miami
Bowl
Convention
Warehouse
Parking
ASSETS
Parking
Stadium
Stadium
Stadium
Center
Marinas
Auditoriums
Golf
Property
Garage
Total
Current assets:
Cash and cash equivalents
$ 828,797
$ -
$ -
$ -
$ -
$ -
S -
S -
$ -
S -
$ 828,797
Accounts receivable (net, where appli-
cable of allowances for uncol-
lecttblea of $217,550)
83,450
8,035
IIO
198,285
-
(1,961)
8.326
13,608
-
_
309,853
Due from other funds
-
-
-
-
2.722,000
-
-
-
_
_
2,722.000
Due from other governments
-
-
-
-
1,997,000
-
-
-
_
-
1,997,000
Inventories
53,066
-
-
-
-
-
-
_
_
-
53.066
Prepaid expenses
18,105
-
-
-
-
-
-
-
-
18,105
Total current assets
983,418
8,035
110
198,285
4,719,000
(1.961)
8,326
13,608
5,928,821
Restricted assets:
Cash and investments with fiscal
agent, including accrued interest
4,068,416
-
-
-
12,489,657
-
-
-
-
10,106,063
26,664,136
Due from other governments, long-term
333,249
-
-
-
2,097,000
-
-
-
-
-
2,430.249
Property, plant and equipment
21,424.326
2,030.799
1,417,388
11,552,062
81,111,067
4.213,445
5,143.333
1,508.668
518,865
2,874.388
131.794,341
Less: Accumulated depreciation
(4,274,245)
(1,103,898)
(850,085)
(5,473,462)
(866)
(2,360,602)
(1.104.708}
(649,894}
(183,581
-
(16,001,341)
Property, plant and equipment. not
17,150,081
926,901
567,303
6,078,600
81,110,201
1,852,843
4,038,625
858,774
335,284
2,874,388
115,793,000
Other assets:
Deposits and other assets
121,732
-
-
-
49,454
-
-
-
-
-
171.186
Bond discount and issuance costs
385.9"
3,683,716
696,160
4,765,820
Total assets
523_0
5 934.936
$ 567.413
5 6_276_885
5104.149.02fl
SL_850_882
54.0�46 4�51
S 872.382
513.676.611
UA 75_3.212
(Continued)
X
rr
C/
CJ
o�
c�:
*�nItITIFS AND FUND EQUITY
Current liabilities (payable from
current assets):
Deficit (equity) in pooled cash
and investments
Vouchers and accounts payable
Accrued expenses (principally
salaries)
Due to other funds
Deferred revenue
Deposits refundable
Total current liabilities (payable
from current assets)
Current liabilities (payable from
restricted assets):
Construction contracts
Accrued interest
Current portion of revenue bonds payable
O Total current liabilities (payable
O from restricted assets)
Long-term liabilities:
Revenue bonds payable - net of current
portion
Other payables
Total long-term liabilities
Total liabilities
Fund equity:
Contributed capital
Retained earnings (deficit):
Reserved for construction and revenue
bond retirement
Unreserved
Total retained earnings (deficit)
Total fund equity
Total liabilities and fund equity
CITY OF lIIAMI, FLORIDA
ENTERPRISE FUNDS
COMBINING BALANCE SHEET
SEPTE BER 30. 1982
Orange
Off -Street Marine Miami Bowl Convention
Parkin Stadium Stadium Stadium Center
SCHEDULE Fri
(Continued)
Warehouse Parking
Marinas Auditoriums Golf Property G&r4ge Total
$ - $ 235,655 S 99,391 S 104;981 0 6,753,931 5 (853.183) $ 697,836 $ (154.737) $(99,212) $ 2.323.570 $ 2.108.232
314,860 36,410 19,199 196.737 - 37.213 25.703 21,375 - - 651.497
- - 2,905 77,413 7,660 6.500 67,095 17,336 - - 178.909
- 423,250 754,629 _ _ _ - - 1,177.879
338,736 - 2,140 257,484 - 16.720 39.360 - - - 654.440
60,437 4,000 - - - 9,235 _ 30 - - 73.702
714,033 276.065 123,635 1,059,865 7,516,220 (783.515) 829,994 (115.9%) 9( 9,212) 2,323.570 11,844,659
187,974 - - - 3,302,437 _ _ _ - 764,873 4.255,294
658,216 - - - 1,284,689 - _ _ - 221.280 2.164.185
165.000 _ _ _ - 165,000
1,011,190 - 4,587,126 - _ _ 986,153 6,584.469
14,280,DOD
-
-
60,000,000
-
-
-
160,000
10.400,000
84.840,000
46,187
_
_
_
_
_
_
-
46,187
14,326,187
-
60,000,000
-
-
-
160,000
10,400,000
84,886,187
16,051,410
276,065
123,635
1,059,865
72,103,346
(783,515)
829,994
(115,996)
60,788
13,709,723
103,315_315
-
621,410
873,089
2,601,020
34,430,243
221,678
5.561,136
392.718
-
-
44.701.294
3,057,226
-
-
-
7,902,531
-
_
_
_
9.119,910
(9,153.022)
20,079,667
(12,343.064)
3,934,204
37,461
(429,311)
2,616,000
(10,287,092)
2,412.719
(2,3.4.179)
595.660
274,496
6,991,430
37,461
(429,311)
2,616,000
(2,384,561)
2,412.719
(2,344.179)
595.660
274,496
(33.112)
7,736,603
6,991,430
,23.042_tl40
658,871
443.778
5,217,020
S6.276.8tl5
32,045,682
2,634,397
3,216,957
S4.046.951
988.378
S tl72.382
274.496
(33,112)
S13.676_611
52,437,897
S155_753_212
U35�284.
51_tl50 tltl�
5104.149.02tl
S 56 Z 413
S 934.936
CITY OF MIAMI, FLORIDA
ENTERPRISE FUNDS
COMBINING STATE Wff OF REVENUES. EXPENSES AND CHANGES IN
FUND EQUITY
YEAR ENDED SEPTEMBER 30. 1982
Off -Street
Marine
Miami
Orange
Convention
Warehouse
Parking
arki
Stadium
Stadium
5-1
Center
Marines
Auditoriums
Golf Property
Geroge
Total
Operating revenues - charges
for services
$4,672,547
$ 77,801
$ 59,843
$1,849,665
-
$1,120.629
S 356.728
$ 723,156 56,758
3
S 0,917.127
Operating expenses:
Personal services
855,209
9,111
244,058
1,439
892,882
154.899
241.127
911,898
230.666
95,673
467.703
58.347
589,813 _
1.255 -
_
27,900
3,530,569
1.649.836
Contractual services
362,826
600,177
35,599
5,272
6,585
60,748
4,216
28,450
33.583
219.096
37
958,164
Materials and supplies
357.441
27.360
64,005
177.022
9,606
143,221
172.186
86.446
400
1,037.687
Heat. light and parer
Intregoveromental charges
-
39,707
99,538
417,541
8,778
1,742
199.078
33.533 -
331
GOO.248
per
701.124
1,029
_18,773
19,596
1,135,527
72,480
15,457
68,359
2_032,345
ry r P1'r
"° Illft
._ t.391
1 722i W8
2 3}1 j!,?
'll2 2Z ,
„-..� its+ �
..5!`!lEa�� -
.�r.�
, a ; 1,191, AR,
porit .on
Other payablsa
Total Iona -term liabilities
Total liabilities
Fund equity:
Contributed capital
Retained earnings (deficit):
Reserved for construction and revenue
bond retirsent
Unreserved
Total retained earnings (deficit)
Total fund equity
Total liabilities and fund equity
Operating revenues - charges
for services
Operating eapem es:
Personal services
Contractual services
Materials and supplies
Nest, light and power
Intragovernmental charges
Other
Total
Operating income (Boas)
before depreciation
Depreciation
Operating income (loss)
Nonoperating revenues (expenses):
Interest
Interest and fiscal charges
Other
Net nonoperating revenues (expenses)
O Income (loss) before operating
-` transfers
Operating transfers in
Net income (lose)
Retained earnings (deficit) at beginning
of year, as originally reported
Adjustment for property. plant and equipment
Retained earnings (deficit) at beginning
of year, as restated
Retained earnings (deficit) at
end of year
Contributed capital at beginning of year
Contributions from other funds
Contributions from tenants
Equity transfers from (to) other funds
Contributed capital at end of year
Total Fund Equity
,,
46.181
14026,187 _ _
l6 1151 410 _ i-_ I11'r9 H6 i O LJ/7 I , I JH
671,410 Hi1,OH'/ ).f10I. WO 14.410.i41 m.f.1$ ;61,1f/r
--- J ,6` ryi 10,4QQ.000 64,886,187
13,109, 723 103,315-315
- 44,701.294
3.057,22(,
-
_
/,907,:)1
_
_
-
_
1.119,910
20.079,667
3,934,704
`)J /.,6I
-(4l)�311)
_7,LIr,,00o
S1r1,2H7,L:.f_
_2,4I7�J19
�i�Y✓.j.�l�,
;9;�51
tla;%yc
(_9,153,022)
(12,343,064)
b.991,430
___ 37,461
ZIAIII)
i,/r11MN1
i2,1ri4,5�r1)
_7,4121/17
r7.'Y 179r
;,5-
i '.,%,5
(33.112)
7,736,603
6,991,430
_ 658,871
/J•3�/7H
�717,070
)2,ry•5,h87
2,6 Y.,39J
216�Y;1
9+,Z,;7K
7r4�c9
(33.112)
52,437,897
S��a/�
iE�-�ta`%ZL
i--��te21.1
SL_21_-�-�4-��-,_61SS
il(1(1�4�
fi_1�LaYi1)L
i,�tr%SI
���L4a�
`L
S15S+r:iia.2�
Ills 11 In I
CITY OF MIAMI, nORIDA
EINTERPRISE FUNDS
COMBINING STATEMENT OF REVENUES, EXPENSES AND CHANCES IN
FUND EQUITY
YEAR ENDS) SEPTEOIER 30, 1982
Off -Street Marine Miami Orange Convention Warehouse
erki Stadium Stadium Bowl Center Marinas Auditoriums Golf Property
$4,672,547 S 77,801 $ 59,842 SI,R49,665 S - $1,120.629 $ 356.728 $ 723,156
56,258
855,209 9,111 244.058 892,882 241.127 230,666 467,703 589,813
362,826 35.599 1,439 154,899 911.898 95,673 58,347 1,255
600,177 5,272 6,585 60,748 4,216 28,450 33,583 219,096
357,441 27,360 64,005 177,022 9,606 143,221 172,186 86.446
- 39,707 99,538 417,541 8,778 1,742 199,078 33.533
701,124 1.029 ,18,773 19,596 1,135,527 72,480 15,457 68,359
2.876-777 118 078 434-398 1,722,688 2,311,152 572,232 946.354 998,502
1,795,770 (40,277) __L37» 555 _--'6,977 (2,311,152) 548,397 (589,626) (275,346)
645,473 88,205 34,567 4111644 266 151,497 147,785 32,669
1,150,297 12( 8,482) (409,122) (284,467 (2,311,418) 396,900 (737,411) (308,015)
556,465 - - 950 421,243 26,813 - 37,633
(1,316,433) - _ (16,970) (5,282) - - -
12.832 27.314 56,757 39,464 26,062 60.634 135,109
(759.968) 12,832 27.314 40,737 455.425 52,875 60,634 172.742
390.329 (115,650) (381,808) (243.730) (1,855.993) 449,775 (676,777) (135,273)
75,000 340.085 256,556
465,329 (115.650) (41.723) (243.730) (1,855.993) 449,775 (420,221) (135,273)
6,526,101 1,577,489 169.607 8,804,863 (527.965) 3,782,713 (105,491) 1.427,830
(1,424,378) (557,195) (5,945.133) (603) (1,819.769) (1,818,467) (696.897)
6,526,101 153,111 (387,588) 2,859,730 (528.568) 1,962,944 (1,923.958) 730,933
6,991.430 37,461 (429.311) 2,616.000 (2,384.561) 2,412.719 (2,344,179) 595.660
- 621,410 873,089 2,597,024 27,721,163 304,178 5,561.136 392,718
- - 3,996 - - - -
- 3,287,080 - -
3,422,000 (82.500) - -
621.410 873,089 2,601,020 34,430,243 221,678 5,561,136 392,718
$�991 430 fi58.871 4 443.778 SS_217_020 S32.045.682 $;_b34.397 53_2Lb 95�7 S 988.378
56.758
12,971
43,787
17,616
(11.212)
6.4(»
SO,191
50,191
320,445
(96.14U)
SCHEDULE E-2
Parking
Garage Total
$- $ 8,917.127
- 3,530,569
27,900 1,649,836
37
958,104
400
1,037,687
331
800.248
-
2,032,345
28.6b*
IO D08.849
2856tl
(1_091,722)
-
1,524,877
28668
(2,616,599)
-
1,060,720
(4.444)
(1,354,341)
358.172
(4', Y44)
64,551
(33.112)
(2,552,048)
671,641
(33.11 2)
(1,880.407)
-
21,975,592
-
(12,358.58
224,)u5 - 9,617,010
274,49n (33.112) 7,736.603
38.070,718
3,996
3.287,080
3,339.500
44,701,294
) 552.4437-H97
Working capital provided by (applied to):
Operations:
Net income (lose)
Items not requiring current outlays
of working capital:
Depreciation and amortisation
Dispositions and transfers of property,
plant and equipment, net
Total provided by (applied to)
operations
Other:
(Increase) decrease in restricted accounts
Contributions and equity transfers, net
Proceeds from long-term debt
Total
Working capital applied:
Additions and transfers of property,
plant and equipment, net
Reduction of bonds payable
j Increase in due from other governments
O Increase In other assets
N
Total
Increase (decrease) in working capi ul
Summary of increases (decreases) in
working capital:
Cash and investments
Accounts receivable, net
Inventories
Prepaid expenses
Accounts payable and accrued expenses
Due to/from other funds
Deposits refundable
Deferred revenue
Increase (decrease) in working capital
SCHEDULE E-3
CITY OF MLAMI, FIARIDA
ENTERPRISE
VIMS
COMBINING STATEMENT OF CHANCES IN FINANCIAL POSITION
YEAR ENDED SEPTEMfER 30, 1982
Orange
Off -Street
marine
Miami
bowl
Convention
Warehouse
Parkin B
Parking;
Stadium
Stadium
Stadium
Center
Mariurs
Auditoriums
Golf
Property
CaraRe
Total
S 465,329
$(115,650)
$(41,723)
$ (243.730)
$ (1,855,993)
$449,775
$(420,221)
$(135,273)
$ 50.191
$ (33,112)
$ (1,880,407)
b59,768
88,205
34,567
411.444
83,415
151,497
147.785
32,669
12.971
-
1.622.321
6,127
25,954
-
-
33,426
-
65,507
1,125,097
(27,445)
(1,029)
193,66b
(1,772.576)
601.272
(272.436)
(69.178)
63,162
(33,112)
(192.579)
487,016
-
-
-
23,567,630
-
-
_
-
(9.119,910)
14.934.736
-
-
3,996
6,709.080
(82.5()0)
-
-
46,187
-
-
-
-
10.400.00-
16.630,576
1,658,300
(27,445)
(1,029
19716b4
28,504,132
516,772
(272,436)
(69,178)
63,162
1,246,978
31,818,920
1,105,463
640
7,290
321,649
36.968,565
7.727
7,011
47.576
-
2.874.388
41.340,309
165.000
-
-
-
-
-
-
_
25.000
-
190.000
148,984
-
-
-
2,097,000
-
-
-
-
-
2,245.984
121,567
-
49,454
-
-
696,160
867,191
1,541,014
640
7,290
(� d�319)
321.b49
39,115,019
7,727
7,011
� (2J9.44J)
47,576
25,000
3,570.s4a
5(2.323_S70)
44,643,474
S 3H_162
S(12 b �1
5(116.754)
�a�
S[10.6L0_Btll)
(123.985)
S._._
B_085
5 117.286
S 326,206
$ (610)
$ 13,976
$1,005,578
$(14,331,479)
$551,967
$(200.443)
$(106.860)
$ 18.162
$(2,323.570)
$(15.047,073)
22,"1
(31,466)
(11,127)
(570,014)
4,477,197
(42,707)
(2.858)
(4,401)
-
-
3.837.065
23,795
-
-
-
-
-
-
-
-
-
23,795
2,103
-
-
2,103
(33,795)
(29,718)
(9,878)
(194,423)
(1,976)
5.325
(69,995)
(5,493)
-
-
(339.953)
7,899
-
-
(302,446)
(754,629)
-
-
-
-
-
(1,049.176)
(29,834)
(201,529)
27,660
6.029
-
(1,290
-
(62,680)
-
_
(695)
2 845
(6,151)
-
_
-
20.000
-
-
(2,849)
(248,466)
$ 117,286
f28.O85)
3]3)
(1��_9d5)
S(10.610.887
5(279 447)
S1116"754)
5 38�. j
S(2_;2_5J0)
S(12 _5 )
K' G^ C N ^� �• _r
po
-------------
INTERNAL
SERVICE
FUNDS
The internal Service Funds are a member of the propriety fund
- category, and as such, are accounted for on the accrual basis
of accounting. Revenues in the internal service funds are
recognized when they are earned and their expenses are
recognized when they are incurred.
The Internal Service Funds are used to account for the
financing of goods and services provided by one department to
other departments of the City, or to other governments, on a
a cost -reimbursement basis. Where capital replacements are
necessary, particularly In the City Garage and Motor Pool
Internal Service Funds, user charges include an amount
_ - necessary to replace fixed assets. Substantially all excess
_ - z funds are committed under the City's vehicle replacement
program.
t+L L
C�{ w t �• C
�
• V
103
83-376.�,
IC P
O n P a J
one', N P P V]J
Sao" �� •,
i
N 1 i 1 i i 1 =' � •li
ram+
1i
•O O 1 1 �± 1 ) ��
INTERNAL
eD J •�iy'.
Nv SERVICE
FUNDS
N
� Q J
Q• � 1 1� T 1 I
r
r'�
The Internal Service Funds are a member of the propriety fund
T
_
category, and as such, are accounted for on the accrual basis
r:
of accounting. Revenues in the internal service funds are
recognized when they are earned and their expenses are
recognized when they are incurred.
-:
The Internal Service Funds are used to account for the
-
financing of goods and services provided by one department to
other departments of the City, or to other governments, on a
cost -reimbursement basis. Where capital replacements are
`
necessary, particularly in the City Garage and Motor Pool
Internal Service Funds, user charges include an amount
necessary to replace fixed assets. Substantially all excess
•S P O P .. � N
s r x a
'
funds are committed under the City's vehicle replacement
program.
a
V
a
C
•
_
4
G
t
•
it O
Y
y V
L
_
• C
C
I • V V• V
V
y u�
Og ?
L t•J C Y• 6 A g y�y
~
•.J 00 M Y Y d 0 i• L
4
p
Q~G O• •C M a •
C Y
Y
7� II• V
-V
a s u Y a u l7� a6� wy V 103
<n G~. <A GL u
N .+
ASSETS
Current assets:
Equity (deficit) in pooled cash
and investments
Accounts receivable
Inventories
Total current assets
Property. plant and equipment
Less: Accumulated depreciation
Property. plant and equipment, net
Total assets
LIABILITIES AND FUND EQUITY (DEFICIT)
Current liabilities:
Vouchers and accounts payable
Accrued expenses (principally salaries)
Total liabilities
Fund equity (deficit):
Contributed capital
Retained earnings (deficit)
Total fund equity (deficit)
Total liabilities and fund
equity (deficit)
SCHEDULE F- L
CITY OF MIAMI, FLORIDA
INTERNAL SERVICE FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1982
Public
City
Motor
Property
Print
Stationery
Communications
Works
Garage
Pool
Maintenance
Shop
Stock
Maintenance
Design Total
3 1,845,545
$1,533,970
$(169,411)
$(188,164)
$ 16,178
$ 359,477
- $ 3,447,495
276,354
215,336
102,012
32,102
64,567
67,985
758,356
2,121.899
1,799,306
(67.399)
(156.162)
80.745
427.462
4,205,851
12,773,183
6,168,268
297,648
95,736
-
1,909,448
- 21.244.283
(3,257,861)
0,055,0331
(165,798)
(41,187)
-
(356,710)
(6,876.589)
9,515,322
3,113,235
131.850
54,549
1,552,738
14,367.694
elt 17 221
$sal
S 64.451
S(101 61z)
S HQ_745
SLt980_s
- �18 5La.X!
$ 576,172
$ 59,581
$ 46,283
$ 8,714
$ 14.089
$ 58,578
- $ 763,417
177,421
89.879
117,349
4,OL9
446
44,846
433,960
753,593
149.460
163.632
12,733
14,535
103,424
1,197.377
4.270,524
3,189,703
264,744
178.170
-
1,301,798
- 7,204,939
6,613,104
3,573,378
(363,925)
(292.516)
66.210
574.978
- 10,171,229
10,883,628
4,763,081
(99,181)
(L14,346)
66,210
1,876,776
- 17,376,168
[�
I
1 61 )
S 80_745
1L_980. 00
- S1H_S7]_545
SCHEDULE F-2
Operating revenues - charges
for services
Operating expenses:
Personal services
Contractual services
Materials and supplies
Nest, light and power
Other ,
Total
Operating income (loss)
before depreciation
Depreciation
Operating income (1088)
Nonoperating revenues:
Interest
Total nonoperating revenues
Income (loss) before
operating transfers
Operating transfers in
Operating transfers out
Net operating transfers
Net income (loss)
Retained earnings (deficit) at beginning
of year, as originally reported
Adjustment for property, plant and
equipment
Retained earnings (deficit) at beginning
of year, as restated
Retained earnings (deficit) at end of veer
Contributed capital at beginning of year
Contributions from other funds
Equity transfers from (to) other funds
Contributed capital at end of year
Total Fund Equity (Deficit)
CITY OF MIAMI, FLORIOA
INTERNAL SERVICE FUNDS
CUMBININC STATEMENT OF REVENUES, EXPENSES
AND CHANCES IN FUND EQUITY
YEAR ENDED SEPTEMBER 30, 1982
City Mot .•:
CaraKe Pool
$ 5,237,221 $4,234,520
1,901,254 1,221,213
114,323 132,319
1,259,433 1,04b,007
87,269 33,525
106,756 65,802
3,469,035 2,498,866
1,768,186 1,735,654
662,1bl 897,156
1,106,025 838,498
205,055 -
205.055
1,311,080 838,498
204,631 -
(101,676)
204,631 (101,676)
1,515,711 736,822
7,886,834 4,738,319
(2,789,441) (1,901,763)
5,097,393 2,836,556
6,613,104 3,573,378
3,935,541 490,692
434,983 699,011
(100,000)
4,270,524 1,189,703
t';!t 43.4111
Property
Print
Maintenance
Shoa
$2,97b,514
$ 320,941
1,624,659
150.195
588,332
136.082
585,341
68,633
6,905
45
30,493
8,965
2,835,930
363.920
14U,584
(42,979)
11.048
7.302
129,536 (50,281)
129,536
(50,281)
(70,023)
(10,871)
(70,023)
(10,871)
59,513
(61,152)
(353,845) (195,857)
(09,593) (35,507)
(423,438) (231,364}
(363,925) (292,516)
2o3,ob1 178,170
1,083 -
264,744 178,170
y islp 11 41J
Stationery
Communications
Stock
Maintenance
212 595
$ 636,399
9,229
435,917
7,891
101.924
174,627
105,666
1,617
1,464
60,660
193.211
705.834
CITY Of MIAMI. FLORIDA
INTERNAL $12VICC D11M
CONSIVINC STArEHM Of Cf1AW.ES 10 FItNMIAL POSITION
TEAR OWED SWrIMER 30, 1982
19,384 (69,435)
- 83.243
19,384 (152,678)
41
38,377
41
38,377
19,425
(114,301)
(22,061)
(22,061)
19,425
(136,362)
46,785
1,097.347
(386,007)
46,785 711,340
66,210 574,978
1,201.798
100.000
1,301,798
� ' s1 876-71I1
Public
Works
Design
39.855
39,855
39,855
(39,855)
(39,855
Total
$13,618,190
5,342,667
1,080.871
3.239.707
129.411
274.140
10,066,796
3,551,394
1,660,910
1,890,484
243,473
243,473
2,133,957
2".486
(204,631)
39,855
2,173,812
13.179,728
(5,182,311)
7.997.417
10,171,229
4.868,064
2,336.875
7,204,939
S17.376.168
Public
S V, 010t9 Prlat titattloaaty Cemmmieatioos Notm
of year, as or stinat'Iv rppovi vt
Ad(ttattltent for propptty, plant and
equipment
Rptained earnings (deftrtt) of 1•eginniny,
of veer, ea tealated
Rriained earnings (detivit) at end of veat
Conirihut►d capital at beginning nl vest
Contributions ir.m other fonds
Equity transfers 111" (to) other lan.l.
Contrihured capital at end of yeat
Total Fond Equity (Pelicit)
(I,1N'i,4411 (1,9(11,1r•11
j,1171. 191 %,Il7r,,iiG
1.104 1,571, 1/;t
I "1 15 . Y' I "'If l I"t
414,9R 1 r,99,r111
IU,5N. I,IH9,1l17
,Llj BnI.418 i4e163,wL
(69,i771
i11/}
(A1, "114071 _____ -
_� 82 311
!/,/},!�)R)
{/I1,1./.! '•!•, 1'li
III. JG r:9.�j.•J
1i947.417
{161,7/i1
{%%/,ilr.! 'f.,ii'i
i14,"7]3
t✓i171..[29
044
%44,/:h
l/�,i/'I -
i.l,l,•'i. _ -
7�[t)4�29
i. .(1'1.1311
tfll�l..�'t`.1 t_ii�Cl't
il✓1i.1/i t_. -
;:]_�75_16d
Bill Isis I
CITY OF MQAMI. FLORIDA
IPITUNAL SERVICE FUNDS
COMBINING STATEMBII OF CNAMES IN FINANCIAL POSITION
YZU ENDED SEPT@0E4 30. 1962
SCHEDULE F-3
Public
City
Motor
Property
Print
Stationery
Communications
Yorks
Garm
Pool
Maintenance
Droop
Stock
Maintenance
De*lx
Total
Working capital provided by (applied to):
Operations:
Net income (lose)
41.515,711
$ 736,822
$ 59,513
$(61,152)
$ 19,425
$ (136.362)
$ 39,855
$2,173,812
Item@ not requiring current outlays
of working capital:
Depreciation
662.161
697.156
11.048
7.302
-
83,243
-
1,660,910
Dispositions and transfers of property,
plant and equipment, net
48,369
69,913
-
-
54.058
-
172,340
Total pravfdad by (applied to)
operatiooa
2.226,241
1.703,891
70.561
(53,850)
19.425
939
39.855
4.007.062
Other:
Contributions. net
334.98$
699,011
1,083
-
-
1,301,798
-
2,336.875
V
Total
2,561,224
2,402,902
71.644
(53.85
19,425
1,302,737
19.855
6,343,937
Watkins capital applied:
Addition@ and transfers of property.
plant and equipment
2.553,228
1,6609.734
3.073
8.600
1,334.513
-
5,509.148
Total
2,553,228
1,609,734
3.073
8,600
-
1,334.511
-
5.5Q9,148
Increase (decrease) in working capital
S. 7.996
1 743_168
LALAj;
)
g 19 4 S
$--- LU-jj6)
c
1-434.18`I
Summary of Increases (decrease*) to
working capital:
Cash and favestmente
$ 312.049
$ 646,256
$132,287
S(68,815)
$ 11,017
$ 22,451
$ 39.855
$1,095,106
Accotmte receivable
-
(421)
(20.032)
-
-
(10)
-
(20,523)
Inventories
35,152
108.621
13.001
(2,694)
14.041
16.487
-
184,608
Accounts payable and accrued liabilities
(139,205)
38,712
(56,685)
9.059
_(5.633)
17OL650)
-
(424,4Q2)
Increase (decrease) to working capital
S t_996
193_16B
68_S)1
)
I9 4 S
i-_U1.116)
1-42
3_ daii-zf14
7• �
l
L�a
f(tw
s
1
Pa TRUST
PO AND
0 AGENCY
� FUNDS
1A
The Trust and Agency Funds are a member of the fiduciary
category. They are used to account for assets held by the City
in a trustee capacity or as an agent for individuals, private
organizations, other governments and/or other funds. The
City's Expendable Trust Funds are accounted for in essentially
the same manner as Governmental Funds. The City's Agency
Fund is used to account for deposits held under Issuance of a
Mcable T.V. license.
83-3 6—
SCHEDULE G-1
ASSETS
Equity in pooled cash
and investments
Accounts receivable
Prepaid expenses
Total assets
LIABILITIES AND
FUND BALANCES
Liabilities:
Vouchers and accounts
payable
Accrued expenses (prin-
cipally salaries)
Deposits refundable
Claims payable
Total liabilities
Fund balances:
Designated for future
pension contributions
Designated for hurricane
loss
Designated for claims
payable
Total fund balances
Total liabilities
and fund
balances
CITY OF MIAMI, FLORIDA
$6,336,633
TRUST AND AGENCY FUNDS
COMBINING BALANCE SHEET
SEPTEMBER 30, 1982
Agency
Expendable Trust Funds _
Fund
Self- Pension
Administration
Cable
T.V.
Total
Insurance
$3,670,067
$2,076,876
$12,083,576
4,962
194,025
_
8,460_ -
$6,539,118 $3 671004
$2 076,876
$12 286 998
$ 514,872 $ 170,200
21,912 3,715
1,089 -
1.242,466 -
1,780,339 173,915
- 3,497,089
500,000 -
4,258.779
$ _ $ 685,072
- 25,627
2,076,876 2,077,965
- 1,2422466
2,076,876 ! 4,031,130
4,758,779 3,497,089 - 8,255,868
$6.539.118 $3.671.004 $2,0076.876 $12.286,998
ME
. "t"
SCHEDULE G-2
CITY OF MIAMI, FLORIDA
EXPENDABLE TRUST FUNDS
COMBINING STATEMENT OF REVENUES, EXPENDITURES AND
CHANGES IN FUND BALANCES
YEAR ENDED SEPTEMBER.30, 1982
Revenues:
Intragovernmental charges
Contributions from employees
and retirees
Other
Total revenues
Expenditures:
Personal services
Contractual services
Materials and supplies
Insurance premiums
Claim payments
Pension contributions
Other
Total expenditures
Excess of revenues
over expenditures
Fund balance at beginning of
year, as originally reported
Adjustment for claim liabilities
Fund balances at beginning of
year, as restated
Fund balances at end of year
Self -
Insurance
Pension
Administration
Administration
$ 2,880,488
$17,900,651
7,648,202
-
2,570,132
-
13,098,822
17,900,651
671,281 -
106,440 -
5,920 -
481,068 -
11,125,977 -
- 15,408,379
405,338 838,025
12,796,024 16,246,404
Total
$20,781,139
7,648,202
2.570.132
30,999,473
671,281
106,440
5,920
481,068
11,125,977
15,408,379
1.243.363
29,042,428
302,798 1,654,247 1,957,045
2,477,188 1,842,842
1,978,793 -
4,455,981 1,842,842
$ 4,758,779 $ 3,497,089
4,320,030
1,978,793
6,298,823
$ 8,255,868
112
PART III
i� STATISTICAL
� SECTION
113
83--37f ._
CITY OF MIAMI, FLORIDA
GENERAL FUND EXPENDITURES AND OTHER USES BY FUNCTION
Last Ten Fiscal Years
In Thousands
Culture
Other
Police
Public
General
and
Expend -
Fiscal
and
Solid
Improve-
Govern-
Recre-
(2)
itures
Year
Fire
Waste
ments
ment
ation
Pensions
& uses
Total
1982
$74,813
$19,394
$13,608
$14, 114
$7, 116
$ ---
$8,998
$138,043
1981
61,501
17,386
12,331
11,734
7,518
---
8,511
118,981
1980(1)
53,084
14,481
11,448
10,308
7,378
---
5,095
101,794
1979
50,205
14,312
10,637
9,356
6,870
---
5,437
96,817
1978
38,123
12,022
9,149
7,263
5,104
14,410
7,641
93,712
1977
37,156
10,375
8,544
8,126
4,107
11,004
9,595
88,907
1976
33,592
100400
79058
6,825
4,118
8,741
7,985
78,719
1975
30,226
9,630
6,987
6,278
3,832
10,266
5,873
73,092
1974
25,445
8,507
5,555
5,378
3,347
7,277
5,015
60,524
1973
23,147
7,785
5,930
4,406
3,060
5,876
3,386
53,590
(1) Fiscal years subsequent to 1979 do not include encumbrances. In-
stead, they are presented as a reservation of Fund Balance.
(2) Prior to 1976, the costs of Group Insurance and Social Security
were included in Pensions. Beginning in 1979, pension costs are
allocated to City Departments based on the number of pension par-
ticipants.
115
CITY OF MIAMI, FLORIDA
PERCENT OF TOTAL
GENERAL FUND EXPENDITURES AND OTHER USES
BY FUNCTION
Police
and
Fire
10% 20% 30% 40% 50% 60%
— 1982-83 Budget Request
— 1981-82 Actual Expenditures
— 1980-81 Actual Expenditures
GENERAL FUN -
City
3us
Fiscal
Property
it
Year
Taxes
Tax
1982
$61,865
i25
1981
54,060
;3
1980
42,679
23
1979
39,388
_)
1978
37,223
-
1977
34,349
=
1976
30,316
-
1975
26,240
=
1974
22,9I6
-
1973
21,011
-
(1) Business and Exci
Financing Sources
(2) Includes transfer
special revenue to
116
CITY OF MIAMI, FLORIDA
GENERAL FUND REVENUES AND OTHER FINANCING SOURCES
Last Ten Fiscal Years
In Thousands
Other
(1)
(2)
Revenue
57.3 Police
City
Business
Inter-
Licenses
Charges
and
54.2 and
Fiscal
Property
b Excise
govern-
and
for
Financing
51.7 Fire
Year
Taxes
Tax
mental
Permits
Service
Sources
TOTAL
1982
$61,865
$25,593
$26,041
$5,452
$13,301
$ 5,492
$137,744
1981
54,060
23,388
24,634
6,096
13,213
3,665
125,056
1980
42,679
23,529
20,298
5,593
6,636
4,156
102,891
1979
39,388
20,050
23,327
4,793
2,506
5,772
95,836
1978
37,223
25,523
4,477
2,244
26,220
95,687
1977
34,849
---
26,146
3,911
2,437
21,322
88,665
1976
30,316
---
20,215
3,880
2,140
20,407
76,958
1975
26,240
18,632
3,672
1,567
16,468
66,579
1974
22,916
_`_
16,001
4,020
1,336
16,398
60,671
1973
2 1, 011
---
15,974
4,251
1,245
11,994
54,475
(1)
Business and
Excise Taxes were included
in
Other Revenue and
Financing Sources prior
to fiscal
year 1979.
(2)
Includes transfers of
Federal Revenue
sharing funds
from the
special revenue fund in
the amount
of $9,938,406 in 1982.
so
go
171
- " . i I
117
CITY OF MIAMI, FLORIDA
PERCENT OF TOTAL
GENERAL FUND REVENUES AND OTHER FINANCING SOURCES
'42.2
44.9 Property Tax
43.2
17.3
18.6 Business & Excise Tax
18.7
21.8
18.9 Intergovernmental
19.7
4.1
3.9 License & Permits
4.9
8.5
9.7 Charges for Service
10.6
6.1
4.0 All Other Sources
2.9
10% 20% 30% 40%
®
— 1982-83
Budget Request
U
— 1981-82
Actual Revenues
— 1980-81
Actual Revenues
118
50% 60%
ON
A
1�1
PaC
Total
Fiscal
Tax Levy
Year
All Funds
1982
$76,903
1981
72,619
1980
60,984
1979
58,389
1978
50,532
1977
43,854
1976
38,508
1975
34,923
1974
33,638
1973
28,106
Tot
Total
CoLlec
Tax
as
Collections
Curran
$75,107
97.
70,725
97.
59,098
96.
57,756
98.
49,618
98.
43,620
99.
37,915
98.
35,417
101.
33,618
99.
28,357
100.
(1) Includes levies
(2 ) Net of $ 1,333,69
(3 ) Net of $ 1, 805, 58
a
Tax
60%
CES
Fiscal
Year
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
Total
Tax
Collections
$75, 107
70, 725
59,098
57,756
49,618
43,620
37,915
35,417
33,618
28,357
CITY OF MIAMI, FLORIDA
PROPERTY TAX LEVIES AND COLLECTIONS
Total
Tax Levy
All Funds
$76,903
72,619
60,984
58,389
50,532
43,854
38,508
34,923
33,638
28, 106
Last Ten Fiscal Years
In Thousands
Collection
of Current
Year's Taxes
Total
Collections
As q of
Current Levy
97.66%
97.39
96.91
98.92
98. 19
99.47
98.46
101. 42
99.94
100.89
$74,040
70,288
58,790
57,325
49,095
42,969
37,281
33,833
32,736
27,449
Outstanding
Delinquent
Taxes
$2,489(2)
2,027 (3)
1,939
1,559
3, 196
2,283
2,048
1,454
1,949
1,930
Percent of
Levy
Collected
96.28%
96.79
96.40
98. 18
97. 16
97.98
96.81
96.88
97.32
97.66
Collection
of Delinquent
Taxes
Outstanding
Delinquent
Taxes As % of
Current Levy
3.24%
2.79
2.23
2.67
6.49
5.20
5.32
4. 17
5.79
6.87
$1,067
437
308
431
523
651
634
1, 584
882
908
(1) Includes levies for general operations and debt service.
(2) Net of $1,333,696 (adjustment to original tax levy).
(3) Net of $1,805,583 (adjustment to original tax levy).
119
(1)
City
MilIa6e
10.664
11. 987
13.960
14.487
13.200
11.903
10.930
10.880
13.436
12.673
0
CITY OF MIAMI, FLORIDA
ASSESSED VALUE OF ALL TAXABLE PROPERTY
Last Ten Fiscal Years
Fiscal
Real
Personal
Year
Property
Property
1982
$6,976,847
$985,282
1981
5,748,550
873,815
1980
3,743,051
822,729
1979
3,420,381
806,794
1978
3,279,667
744,180
1977
3,256,815
681,455
1976
3,123,657
672,697
1975
2,851,310
689,896
1974
2, 168, 159
533,496
1973
1,959,721
464,749
In Thousands
Gross Total
$7,962, 129
6,622,365
4,565,780
4,227,175
4,023,847
3,938,270
3,796,354
3,541,206
2,701,655
2,424,470
Homestead
Exemptions
$750,665
564,238
197,311
196,708
195,664
198,559
199,421
196,798
198, 187
201, 75 1
Net
Assessed
Value
$7 , 2 11,464
6,058,127
4,368,469
4,030,467
3,828,183
3,739,711
3,596,933
3,345,408
2,503,468
2,222,719
Source: Metropolitan Dade County Property Appraiser's Office.
Note: The increase in assessed value of real property in fiscal
year 1982 was primarily due to a dramatic increase in new
commercial buildings in the downtown area.
The increase in 1981 was largely due to a change in
Florida law requiring that property be assessed at 100%
of actual value. Prior to the new law the basis of as—
sessed value was approximately 75% of actual value. For
each fiscal year ending September 30, property is valued
as of January 1st of the preceding calendar year.
Additionally, an increase in the homestead exemption to
$25,000 became effective for the fiscal year 1982 taxes.
120
r
TAX RATES
Year
1982
1981
1980
1979
1978
1977
197b
1975
1974
1973
PROP:
Ci
Tax Lev tej
1962
►981
1` 80
1979
1978
1977
19
191'�
19 4
1a� 3
PERrY
CITY
OF MiA'41,
FLORIDA
PROPERTY TAX RATES
AND TAX
LEVIES
All Overlappinr,
Governments
Last
Ten Fiscal
Years
ye C
ead Assessed
ions
-
TAX RATES
,Value
65 y7,211,464
38 6,058,127
Year
City
County
Schools
State
Total
it 4,368,469
08 4,030,467
1982
10.664
6.999
7.14
.358
25.161
64 3,828,183
1981
11.987
7.013
8.22
.402
27.622
59 3,739,711
1980
13.960
9.342
6.75
.422
30.474
42)1 3,596,933
1979
14.487
9.260
8.00
.397
32.144
798 3,345,408
1978
13.200
9.357
8.U0
.397
3U.954
1$; 2.503,468
1977
11.903
7.983
8.00
.365
28.251
751 2,222,719
1976
10.930
7.860
8.1.2
.375
27.285
1975
10.880
7.157
7.15
.394
25.581
1974
13.436
8.290
10.22
.485
32.431
1973
12.673
8.790
10.27
.520
32.253
.raiser's Office.
n1 property in fiscal
Tax Levies
(In OUO's)
_atic increase in new
area.
1.982
$76,903
$50,473
$ 5 1 , 4 9 U
$2,582
$181,448
1981
72,619
42,486
49,798
2,435
167,338
to a change in
1980
60,984
40,810
29,487
1,844
133,125
be assessed at 1007-
1979
58,389
37,322
32,244
1,60U
129,555
aw the basis of as-
1978
50,532
35,820
30,625
1,520
118,497
f actual value. For
1977
43,854
29,412
29,474
1,345
lU4,085
], property is valued
1976
38,508
27,692
28,608
1,321
96,129
-alendar year.
1975
1974
34,923
33,638
22,973
20,754
22,950
25,586
1,265
1,214
82,111
81,192
1973
28,1U6
19,494
22,777
1,153
71,53U
.estead exemption to
seal year 1982 taxes.
No
F3-�" 1P C
121
RATIO
CITY OF MIAMI, FLURIDA
NET ASSESSED
SPECIAL ASSESSMENTS CULLECTIUNS -
Last Ten Fiscal Years
As
Ratio of
Fiscal
Popu-
Collecr.ions
rut al
Year
lation(1)
('
Fiscal
Current
to
Uur"staad inb
-
Year
Assessments
Collectiuns
Amounts Uue
Assessments
1982
400,000(2)$7,9.
1982
$1,9U9,873
$1,79U,UUb
93.7%
4119,867
1981
1979
400,000(2)
34,000(2)
6,6=
4,2-
1981
1,940,593
1,846 325
95.1
94,2bd
19,000
345
4,-
1980
1,18'2,38b
1,173,152
99.2
9,234
1978
345,000
4,0"
1979
953,455
95U,317
99.7
3,136
1977
342,000
3,9
1978
36U,103
358,917
99.7
1,166
1976
340,000
3,7
1977
177,355
174,996
96.7
2,359
1975
338,000
3,5
1976
499,216
427,689
85.7
71,529
1974
336,000
2,7
1975
297,784
261,627
67.9
35,957
1973
336,000
2,4
1974
492,292
447,u3'2
9U.6
45,26u
1973
415,872
414,b24
99.7
1,248
1
NOTE: The City of Miami's Special .assessments consist_ ut assess-
ment-6 liens for various capir,Al prujecrs such as sanitary
and storm sewer improvements. The delinquent liens art --
minimal as they are sold annually in June. The outstanding
assessments are the delinquent liens rhar were not, sold and
have reverted to the Cir_y.
122
(1) Estimated o
t ions and n
years for Wh
(2) The City of
eral Census
of 1980; a
justed the
of
ons
Vue
. 7 %6
.1
.2
.7
.7
.7
.7
.9
.6
.7
TOtai
Outst.:And i lib
Asses smeuts
�I19'bU7
94,2b6
9,234
3, 136
1 186
2, 359
71,529
35,957
45,2bu
1,246
consist ut assess -
such as rani. ra ry
,queerliens arc
►e. The uutsr_andi ng
r were not, sold ditd
CITY OF MIAMI, FLORIDA
RATIO OF NET GENERAL BONDED DEBT TO
NET ASSESSED VALUE AND NET BONDED DEBT PER CAPITA
Last Ten Fiscal Years
Net
Assessed
Homestead
Assessed
Bonded
Fiscal
Popu-
Value
Exemption
Value
Debt
Per
Year
lation(1)
(000's)
(000's)
(000's)_
(000's)
Ratio
Capita
1982
400,000(2)$7,962, 129
$750,665
$7,211,464
$116,010
1.61%
290.03
1981
400,000(2)
6,622,365
564,238
6,058,127
126,320
2.08
315.80
1980
347,000(2)
4,565,780
197,311
4,368,469
130,415
2.99
375.84
1979
345,000
4,227,175
196708
4,030,467
138,065
3.43
400.19
1978
345,000
4,023,847
195:664
3,828,183
129,675
3.39
375.87
1977
342,000
3,938,270
198,559
3,739,712
103,827
2.78
303.59
1976
340,000
3,796,881
199,948
3,596,933
94,524
2.63
278.01
1975
338,000
3,541,654
196,798
3,344,409
83,933
2.51
248.32
1974
336,000
2,701,654
198,187
2,503,467
86,844
3.47
258.47
1973
336,000
2,424,470
201,751
20222,719
5 1, 165
2.30
152.28
(1) Estimated on the basis of added electric and water connec-
tions and new dwelling units constructed, except in those
years for which a Federal census was available.
(2) The City of Miami was involved in litigation with the Fed-
eral Census Bureau challenging the 347,000 population count
of 1980; as a result, during 1981 the Census Bureau ad-
justed the population count upward to 400,000.
123
CITY OF MIAMI, FLORIDA
STATEMENT OF LEGAL DEBT MARGIN
SEPTEMBER 30, 1982
ASSESSED VALUATIONS
Total Assessed Valuation
Homestead Exempt Valuation
Net Assessed Valuation
Legal Debt Margin
Debt Limitation for Bonds
(15% of $7,211,463, 891) (1)
Present Debt Application
to Debt Limitation:
$7 , 962 , 128, 999
750,665,108
$7,211,463,891
$1,081,719,584
General Obligation Debt
$116,010,000
Less Amount Available
in Debt Service Fund
6,611,919
$ 109,398,081
Legal Debt Margin
$ 972,321,503
(1) Section 58 of the
City Charter limits
bonds of the
City to 15% of the
assessed valuation of
all real and
personal property
within the City limits
as shown by
the preceding assessment
roll of the
City and pro-
vides that bonds
for street, sewer,
sidewalk and
other public improvements, which are
paid from spe-
cial assessments,
shall not be subject
to such limi-
tation of amount nor be considered when
computing the
amount of general
obligation bonds that
may be is-
sued.
124
C_
to"lip OF p
50NUF:U
310
735
160
860
P,,270
4 1',
f�,1<<'.Il
, y/4Q
1: 1
Bc_
I�
$7,962,128,999
750,665,108
$7 , 2 11, 463 , 89 1
$1,081,719,584
$ 109,398,081
$ 972,321,503
bonds of the
,f all real and
:ts as shown by
City and pro -
sidewalk and
paid from spe-
t to such limi-
t computing the
that may be is-
Fiscal
Year
1982
1981
1980
1979
1978
1977
1976
1975
1974
1973
CITY OF MIAMI, FLORIDA
RATIO OF ANNUAL DEBT SERVICE EXPENDITURES
FOR GENERAL BONDED DEBT TO TOTAL GENERAL FUND EXPENDITURES
AND OTHER USES
Last Ten Fiscal Years
In Thousands
Bond
Principal
$ 10, 3 10
10,735
10, 160
9,860
8,270
8,275
6,415
6,420
6,949
5,323
General Bonded
Bond Debt Service
Interest Expenditures
$7, 130 $17,440
6,620
17,355
7,235
17,395
7,202
17,062
6,600
14,870
5,241
13,516
5,592
12,007
6,103
12,523
4,915
11,864
3,468
8,791
Total
General Fund
Expenditures
& Other Uses
Ratio
$ 138 , 043
12.63
118,981
14.59
101,794
17.09
96,817
17.62
93,712
15.87
88,906
15.20
78,719
15.25
73,092
17 . 13
60,525
19.60
53,590
16.40
on
CITY OF MIAMI,
FLORIDA
STATEMENT OF DIRECT AND
OVERLAPPING
DEBT
September 30,
1982
In Thousands_
isFACTORS:
Assessed Valuation (1)
Net Taxable Assessed V
City of Miami Debt, Ne
General Obligation
Amount
Special Obligation c
Available
Percentage City"s
and
Applicable Share
Combined Direct E
Gross Debt Reserves
Net Debt
to City of Debt
Overlapping Debt, Net
City Of Miami
General Obligation
Special Obli;atia
General
Obligation $116,010,000 $6,611,919
$U19,398,081
100% $109,398,081
Combined Net ) erl
Total Net
Metro -Dade County(l)
Population JL Mani {
Assessed Valuat iJn ?e
General
Obligation 493,760,000 16, 143,856
477,616, 144
23(l) 109,851,713
Net Taxable Assessed
DEBT RATIOS:
$609,770,000 $22,755,775
$587,014,225
$219,249,794
Net Direct General x
Percent JT Net .3!Ca
Combined Net Direct a
obligation Debt as
Taxable Assessed Va
Net Direct Genera: Ob
(1) Based on the ratio of the City of Miami
population of
400,000 to Metro -Dade
Combined Net Direst G
Debt Per
County Population of 1,739,000.
Obligation
Combined Net Direct a
Obligation Debt Per
Combi:jed Net ')erect a
atl.i Spe: tal Obi, -At
(1) Assessed valuat
D'AJO Jlltl: Y us
G 1Jridi i.l».
(�) tipd: tal 0b1igat
t hait .1d valorem
b"11.1s is »ell 3
126
DEBT
Percentage
Applicable
to City
100%
23 (1)
City"s
Share
of Debt
$109,398,081
109,851,713
$219,249,794
f 400,000 to Metro -Dade
w
CITY OF MIAMI, FLORIDA
CURRENT DEBT RATIOS
September 30, 1982
FACTORS:
Assessed Valuation (1)
Net Taxable Assessed Valuation
City of Miami Debt, Net of Res. Funds
General Obligation
Special Obligation (2)
Combined Direct Debt (9/30/82)
Overlapping Debt, Net of Res. Funds
General Obligation
Special Obligation
$7,962,128,999
7,211,463,891
$109,398,081
75,063,544
$109,851,713
39, 197, 458
184,461,625
Combined
Net Overlapping Debt (9/30/82)
$ 149,049,171
Total Net
Direct and Net Overlapping Debt.
$ 333,510,796
Population of
Miami (1980 Census as adjusted in
1981) 400,000
Assessed Valuation
per Capita
$ 19,905
Net Taxable Assessed
Valuation per Capita
$ 18,029
DEBT RATIOS:
Net Direct General
Obligation Debt as a
Percent of
Net Taxable Assessed Valuation
1.52%
Combined Net
Direct and Overlapping General
Obligation
Debt as a Percent of Net
Taxable Assessed
Valuation
3.04%
Net Direct General
Obligation Debt Per Capita
$ 273.50
Combined Net
Direct General and Special
Obligation
Debt Per Capita
$ 461.15
Combined Net
Direct and Overlapping General
Obligation
Debt Per Capita
$ 548.12
Combined Net
Direct and Overlapping General
and Special
Obligation Debt Per Capita
$ 833.78
(1) Assessed valuation as of the final tax roll from Metropolitan
Dade County, using 100% of assessed values as mandated by
Florida law.
(2) Special obligation debt is payable from revenue sources other
than ad valorem taxes, which includes special obligation
bonds as well as revenue bonds.
127
on
CITY OF MIAMI, FLORIDA
C
SCHEDULE OF REVENUE BOND COVERAGE (1)
.r_ _
GENERAL 0
ENTERPRISE FUNDIN
PRI`iCi?
Last Ten Fiscal Years
A3
In Thousands
ON
Fiscal
Net Revenues DEBT_ SERVICE
Year
Gross Available for —'
Ending
Year
Revenue Expenses Debt Service Principal Interest Total Coverage
Sept.
3
30 --
1982(2)
$4730 $2,877 $1,853 $ 190 $1327
$ 1517
1.22
1983......
1981
48 -0- 48 23 13
35
1.37
1984......
1980
43 -0- 43 21 14
35
1.23
1985......
1979
42 -0- 42 20 16
36
1.17
1986......
1978
39 -0- 39 18 17
35
1.11
1987......
1977
35 -0- 35 18 18
36
.97
1988.....
I
1976
39 -0- 39 16 19
35
1.11
1989......
1975
38 -0- 38 7 12
19
2.00
1990......
1974
10 -0- 10 6 6
12
-
1991.....
.
1973
13 -0- 13 6 6
12
1.08
1992......
1993......
(1)
Conference and Convention Center Revenue Bonds
in the
1994
......
amount of $60,000,000 were sold July 1, 1980.
Parking
1995
......
Revenue Bonds in the amount of 10,400,000 were
sold March
1996......
1, 1982. Both of these entities are currently
under con-
1997......
struction and will not begin to earn operating
revenues
1998......
from operations until fiscal year 1983. The above
Revenue
1`39`......
Bond Coverage computations exclude amounts relating
to the
2010••••••
Convention Center and the Parking Garage. The
other out-
2001......
standing revenue bonds of the City are the
Off-Street
-'����'••
Parking Bonds, payable from the revenues of the
Off-Street
--'UO3
......
Parking Facilities, and the Orange Bowl Warehouse
Revenue
2004
......
Bonds, payable from the rental revenues of the warehouse.
200?
......
2006......
(2)
Beginning in 1982, this schedule includes the
operations
200,
......
of the Off -Street Parking Authority.
2006
......
2009.
ZU10.....
2011......
r0rAL
$ 1
Yritic ihal
above s: he
t a the ama
1932 payMa
cite Debt S
128
I )
RVICF;
crest TutAt Cover.lge
27
1517
1.-
13
15
1.37
14
35
1.23
16
36
1. 17
17
35
1. 11
18
3b
.97
19
35
1. it
12
19
2.00
6
12
-
6
12
1.08
Bonds in the
980. Parking
,ere sold March
fitly under con-
t ing revenues
above Revenue
relating to the
The other out -
the Off -Street
the Off -Street
rehouse Revenue
the warehouse.
the operations
W
CITY OF MIAMI, FLORIDA
GENERAL OBLIGATION BONDED INDEBTEDNESS
PRINCIPAL AND INTEREST REQUIREMENTS
As of September 31, 1982
Fiscal
Year
General
Obligation
Bonds
Ending
----
---------
---
Sept.
30
Principal
Interest
Total
1983......
9,995,000
6,627,882
16,622,882
1984......
9,565,000
6,019,482
15,584,482
1985......
9,555,000
5,439,165
14,994,165
1986......
9,430,000
4,883,335
14,313,335
1987......
8,630,000
4,338,976
12,968,976
1988......
8,245,000
3,843,360
12,088,360
1989......
7,290,000
3,370,751
10,660,751
1990......
7,105,000
2,952,927
10,057,927
1991......
6,450,000
2,550,445
9,000,445
1992......
5,765,000
2,153,253
7,918,253
1993......
5,425,000
1,770,834
7,195,834
1994......
5,110,000
1,399,251
6,509,251
1995......
5,160,000
1,139,991
6,299,991
1996......
4,625,000
900,354
5,525,354
1997......
4,375,000
672,478
5,047,478
1998......
3,225,000
447,532
3,672,532
1999......
2,095,000
288,703
2,383,703
2000......
1,045,000
179,986
1,224,986
2001......
1,060,000
90,499
1,150,499
2002......
715,000
58,334
773,334
2003......
765,000
31,198
796,198
2004......
285,000
18,492
303,492
2005......
305,000
14,988
319,988
2006......
305,000
11,082
316,082
2007......
3 10, 000
7,078
317,078
2008......
375,000
2,772
377,772
2009......
265,000
440
265,440
2010......
300,000
308
300,308
2011......
315,000
157
3 15 , 157
TOTAL $118,090,000 $49,214,053 $167,304,053
Note: Principal and interest for October 1982 are included in the
above schedule. For financial statement purposes, principal
in the amount of $2,080,000 (which represents the October
1982 payment) has been reclassified from Long Term Debt to
the Debt Service Funds.
129
SC1% e�--It
C'it)��t f C
Fiscal Year
Ending
September 30
1983.....
1984.....
1985.....
1986.....
1987.....
1988.....
1989.....
1990.....
1991.....
1992.....
1993.....
1994.....
1995.....
1996.....
1997.....
1998.....
1999.....
2000.....
2001.....
2002.....
2003.....
2004.....
2005.....
2006.....
2007.....
2008.....
2009.....
2010.....
2011.....
2012.....
2013.....
2014.....
2015.....
Total
CITY OF MIAMI, FLORIDA
REVENUE BONDS AND SPECIAL OBLIGATION BONDS
PRINCIPAL AND INTEREST REQUIREMENTS
As of September 30, 1982
Principal
Parking Garages
Utilities Convention and Warehouse
Service Tax Center Property
Series A Revenue Bonds Revenue Bonds
$150,000 $
150,000
150, Ono
150,000
150,000
150,000
100,000
330,000
640,000
1,060,000
1, 140,000
1,225,000
1,320,000
1,425,000
1,540,000
1,665,000
1,805,000
1,720,000
1,870,000
2,035,000
2,215,000
2,410,000
2,620,000
2,850,000
3,095,000
3,365,000
3,660,000
3,980,000
4,050,000
4,410,000
4,720,000
4,750,000
$ 194,000
241,000
262,000
3279000
353,000
380,000
411,000
442,000
460,000
495,000
535,000
580,000
635,000
695,000
760,000
835,000
915,000
1,005,000
1, 105,000
1,220,000
1,345,000
1,490,000
1,670,000
1,870,000
2,095,000
2,350,000
1, 115,000
1,220,000
$900,000 $60,000,000 $25,005,000
130
A
■
■
■
■
Note: Principal and in
these 4cheduips.
c ipal in the a10
t,-)bc. r 1982 payme-
bnndS payable to
In the Enterpris
yy,
Principal
344 , OUO
000
C)0C!
�7 , CtOC
0,3
30,O:C
UUU
y0, 0C;(1
L)UU
95,UuC
UUU
3
h2
()9 (1
3riu, t)t!t)
'� ,Uhl• , hilt)
,
49tt
914.) ltt�t}
't ri ti tt , tt t) tl
ti , ` 0 i)lttl
0
N $t�Nhti
B_O
Note: Principal and interest
for October 1982 are included in
FNTS
these schedules. For financial
statement
purposes, prin-
cipal in the amount of
$165,000 (which represents the Oc-
tober 1982 payment) has
been reclassified
from revenue
bonds payable to current
portion of revenue
bonds payable
in the Enterprise Fund.
Parking Garages
and Warehouse
Total
Property
Total
Principal
and Interest
Revenue Bonds
Principal
Interest
Requirements
$ 194,000
241,000
$ 344,000
$ 7,819,998
$ 8,163,998
262,000
391,000
7,805,854
8,196,854
327,000
412,000
7,787, 198
8, 199, 198
353,000
477,000
7,766,797
8,243,797
380,000
503,000
7,739,686
8,242,686
530,000
7, 7 10, 152
8,240, 152
411,000
411,000
7,680,590
8,091,590
442,000
542,000
7,650, 142
8, 192, 142
460,000
790,000
7,610,946
8,400,946
495,000
1,135,000
7,552,555
8,687,555
535,000
1,595,000
7,469,183
9,064,183
580,000
1,720,000
7,349,607
9,069,607
635,000
1,860,000
7,216,303
9,07b,303
695,000
2,015,000
7,067,284
9,082,284
760,000
2,185,000
6,898,803
9,083,803
835,000
2,375,000
6,712,927
9,087,927
915,000
2,580,000
6,507,213
9,087,213
1,005,000
2,810,000
6,280,592
9,090,592
i,105,000
2,825,000
6,030,575
8,855,575
1,220,000
3,090,000
5,776,240
8,866,240
1,345,000
3,380,000
5,488,995
8,868,995
1,490,000
3,705,000
5,158,788
8,863,788
1,670,000
4,080,000
4,778,517
8,858,517
1,870,000
4,490,000
4,358,052
8,848,052
2,095,000
4,945,000
3,892,503
8,837,503
2,350,000
5,445,000
3,378,095
8,823,095
1,115,000
4,480,000
2,809,677
7,289,677
1,220,000
4,880,000
2,382,555
7,262,555
3,980,000
1,917, 125
5,897, 125
4,050,000
1,568,875
5,618,875
4,410,000
1,214,500
5,624,500
4,720,000
828,625
5,548,625
4,750,000
415,625
5,165,625
$25,005,000
$85,905,000
$182,624,577
$268,529,577
�L3
131
ON
CITY OF MIAMI, FLORIDA
TEN LARGES'r TAXPAYERS
Name
of
Taxpayer
Southern Bell Telephone &
Telegraph Company
Equitable Life Asssurance
Florida Power & Light Co.
Miami Herald
One Biscayne Tower, N.V.
I.B.M.
Ball Point Development
New York Life Insurance
Federated Department
Stores (Burdines)
Dupont Plaza
Total Assessed Valuation of
Top Ten Taxpayers, which
is 9.8% of total 1982
Assessed Valuation
Nature
of
Activity
Utility
Office Buildings
Utility
Newspaper
Office Buildings
Retail Sales
Office Buildings
Office Buildings
Retail Sales
Office Buildings
Assesssed
Value
(OOO's)
$ 292,646
146, 156
86,053
54,319
49,540
40,699
36,602
27 , 362
25, 120
19,980
$778,477
Source: Metropolitan Dade County Property Appraiser's Office.
132
Financial Insitution
Dade County is growl
International banks
there are 38 Edge
These include: Bar -
national South, Bat
Chase Bank Internati
Citibank Internatic
Northern Trust Int-
The Federal Reserv=
banks to open Inter
states. The Feder-
Dade County to assf
tions in the South
There are 65 local
of $9.2 billion in
low:
Year
1981
1960
1979
1978
1477
1a7o
147a
14 74
1973
1972
Source: City of
(1) The informs.
as a Whole
(2) The total n
holding com
Va I tic`
(000's)
C 292_.646
is 146 , 156
86,053
54,319
SG 49,540
40,699
�S 36,602
,s 27,362
a 25, 120
zs 19,980
$778,477
_praiser"s Office -
CITY OF MIAMI, FLORIDA
BANK DEPOSITS
LAST TEN YEARS
Financial Insitutions
Dade County is growing as an international financial center with 38
international banks operating in the community. Additionally,
there are 38 Edge Act Banks that have moved to the Miami area.
These include: Bank American International, Bank of Boston Inter-
national South, Bankers Trust International (Miami) Corporation,
Chase Bank International, Citizens and Southern International Bank,
Citibank International, Irving Trust Company International/Miami,
Northern Trust Interamerican Bank and Wells Fargo International.
The Federal Reserve Edge Act Amendment, adopted in 1919, permitted
banks to open International Banking Subsidiaries outside their home
states. The Federal Reseve System has located a branch office in
Dade County to assist the Atlanta office with financial transac-
tions in the South Florida area.
There are 65 local banks in Dade County which together have a total
of $9.2 billion in deposits. A ten year summary is presented be-
low:
BANK DEMAND DEPOSITS M
Number
Total
Year
of Banks
Demand Deposits
1981
65
$9,234,540,000
1980
63 (2)
9,341,691,000
1979
71
7,982,108,000
1978
1977
73
98
7,015,276,000
6,481, 146,000
1976
95
5,526,615,000
1975
93
50296,569,000
1974
91
5,493,965,000
1973
83
5, 193,728,000
1972
77
41,432,841,000
Source: City of Miami Department of Economic Development
(1) The information presented
as a whole which includes
(2) The total number of banks
holding companies are now
is for Metropolitan Dade County
the City of Miami.
has been declining because bank
consolidating branch banks.
133
CITY OF MIAijI, FLURIDA
CONSTRUCTiUN
LAST TEN FISCAL YEARS
Buie Permits
The dollar value of building permits issued in the City and
in the unincorporated areas of Dade County since 1972 are as
follows:
Yea r
1981
198U
1979
1 y 7 8
1977
1976
1975
1974
1973
1972
City of Miami
( uuu's )
532,2U5
34U,463
286,463
105,U64
97,151
bu,744
b(j,75U
113,b19
190,02b
241,967
Dade County
(000,$)
9U1,676
l,UZU,84u
963,144
b51 ,48Z
4 6 U , b 8 9
5Ub,796
4u4,585
7 8 b , 7 6 u
1,119,141
1,296,235
Source: City and County Building Departlaelit.s
134
C
D
' :Y OF MIAMI AN
PERSONS BY OCCCP
f3: /Af)MINI`)-KATIVF,!
SA7.E S
PR.';A? 1{ll.iI:11(11,11 til;RVI
P3:j::.:T I Vr: �1.,RV14'1;2;
FARH /?r1k [:;;'1•I( Y /1 1 ;:Il 1 X'i;
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MACi{VKVA1•Ill;ti 1S�F:�11i
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c) I I I I I I I I k; R �-� ; I R•I f.'
I/ ()(I. 111111 .
11 n 1 tI : 1 .4 1 F
ed in the City and
since 1972 are as
Dade County
(000,$)
9 U I , b 7 b
I,UZU,84U
9b3,144
b5l ,48.)
4 b U , 6 8 9
5ub,798
4U4,585
76b, 7 6 u
I,119,141
1,296,235
ments
CITY OF MIAMI, FLORIDA
DEMOGRAPHIC STATISTICS
CITY OF MIAMI AND METROPOLITAN DADF, COUNTY POPULATION
YEARS
0-5
6-13
14- 18
19-29
30-59
60-64
65-74
75+
TOTAL
1980 Census Count
CITY OF
MIAMI (1)
23,459
30,433
25,575
60,257
128,049
19,973
35,95 1
23, 168
346,865
EMPLOYED PERSONS BY OCCUPATION
METRO-DADF.
COUNTY
113 , 544
169,884
133,369
287,216
585,896
30,586
149,550
105,736
1 A 7 r, 7 n 1
METRO-DADF.
MIAMI COUNTY
EXECUTIVE/ADMINISTRATIVE/MANAGEMENT
13,639
91,567
PROFESSIONAL/SPECIALTY
13,772
81,076
TECHNICIANS/SUPPORT
3,743
22,380
SALES
16. ;78
88, 136
ADMINISTRATIVE SUPPORT
28,232
145,265
PRIVATE HOUSEHOLD SERVICES
2,511
6,753
PROTECTIVE SERVICES
1,961
12,512
OTHER SERVICES
24,470
85,328
FARM/FORESTRY/FISHING
2,063
11,257
PRECISION/PRODUCT/CRAFT
18,547
86,730
MACHINE OPERATORS/ASSEMBLERS
18,555
53,629
TRANSPORTATION/HANDLERS/HELPERS
6,967
26,935
TOTALS
150,538
711,568
(1) During 1981, the census population
was adjusted
upward to
400,000.
SOURCE: U.S. Bureau of Census, 1980 data tape from
University of Florida Libraries, Gainesville,
Florida.
135
Principal Facilities
CITY OF MIAMI,_ FLORIDA
The City maintains 101
including two golf co
erates and maintains
GENERAL_ ST_A_T_ISTI_CAL DATA
Stadium; Marine Stadi
ing 685 berthing fa
Management agreement
Bayfront Park Auditori
The City
The Climate
The City of Miami, the largest city in the State of Florida, is
The temperature of M
located in Dade County and was first settled in 1836, and incorpo-
turing long warm summ
rated in 1896. It is located on the lower east coast of Florida
dry winters. The aver
along the western shore of Biscayne Bay and is the southernmost
and 69.1 degrees in
large city in the United States. It comprises 34.3 square miles of
grees.
land and 19.5 square miles of water. The 1980 census population of
the City was 347,000, representing approximately 23.4% of the total
Local_ Mass_ Transit
population of Dade County. In 1981, the census population was ad-
justed upward to 400,000.
Metropoltian Dade Cou
important development
Government of Miami
town Miami in particu
rail system. The sy
The City of Miami has operated under the Commission -City Manager
Miami's Central Busin
form of government since 1921. The City Commission consists of
tion began in May 197:
five elected citizens, who are qualified voters in the City, one of
whom serves as Mayor. The Commission acts as a governing body of
Downtown Component
the City with powers to pass :ordinances, adopt regulations and ap-
Metrorall is an eaten=
point a chief administrative officer known as the City Manager.
distribute passenger
planned to consist
Principal Government Services Performed
District's core with
outer portions of the
The City's Fire Department, in addition to Its traditional fire
services, provides emergency medical and rescue services. The De-
Economic Information
partment provides training, enforcement of fire and building codes,
and emergency communication services. They are also responsible
Generally, the Dade
for conducting inspections, isuing permits and administering
begun to base its ec
ordinances related to building, planning and zoning regulations.
dustry and manufactu
ty. While tourism
The Police Department is the largest department of the City. It is
County's attractiven
charged with the preservation of public order and the prevention
its selection as th
and detection of crime. The Department's three Divisions of Oper-
activities have combi
ations, Resource Management and Special Services include: Patrol
economic base.
Section, Criminal Investigation Section, Traffic Section, Adminis-
trative Section and Community Relations Section.
Agriculture
Other services performed by the City are garbage collection; sani-
The land area of Dad
tary sewer, storm sewer, highway construction and maintenance;
on which limes, avoc
street lighting; international trade promotions; economic develop-
grown for the fresh
went; planning; and zoning services.
winter months, the mi
harvested. Many of
northeastern part of
tropical fruits such
ples and persian li
where else in the Cou
136
-Late of Florida, is
n 1830, and incorpo-
-ast coast of Florida
is the southernmost
34.3 square miles of
census population of
jy 23.4% of the total
is population was ad -
,fission -City *tanager
»ission consists of
s in the City, one of
s a governing body of
t regulations and ap-
the City "tanager.
its traditional fire
ue services. The De-
e and building codes,
are also responsible
s and administering
oning regulations.
t of the City. It is
er and the prevention
ee Divisions of Oper-
ices include: Patrol
fic Section, Adminis-
n.
age collection; sani-
ion and maintenance;
ns; economic develop -
Principal Facilities
The City maintains 101 parks covering over 2500 acres of open space
including two golf courses, and six picnic islands. The City op-
erates and maintains the Orange Bowl Stadium; the Miami Baseball
Stadium; Marine Stadium; four City -owned marina facilities provid-
ing 685 berthing facilities, two of which are under Lease/
Management agreements; Coconut Grove Exhibition Center and
Bayfront Park Auditorium.
The Climate
The temperature of Miami is essentially subtropical marine, fea-
turing long warm summers with abundant rainfall, followed by mild
dry winters. The average temperature in the summer is 81.4 degrees
and 69.1 degrees in the winter, with a yearly average of 75.3 de-
grees.
Local Mass Transit
Metropoltian Dade County Rapid Transit System: One of the most
important developments affecting Dade County in general and down-
town Miami in particular, is the construction of a rapid transit
rail system. The system will pass through the western portion of
Miami's Central Business District and have 21 stations. Construc-
tion began in May 1979 and is expected to be completed in 1984.
Downtown Component of Metrorail: The Downtown Component of
Metrorail is an extension of the Metrorail Transit System that will
distribute passengers throughout Miami's Central District. It is
planned to consist of a two-way, elevated rail line around the
District's core with spur lines extending north and south to the
outer portions of the downtown area.
Economic Information
Generally, the Dade County area, including the City of Miami, has
begun to base its economy upon a more varied economic base. In-
dustry and manufacturing are becoming stronger forces in the Coun-
ty. While tourism remains one of the major economic forces, the
County's attractiveness as a residential area to skilled labor and
its selection as the site for major and smaller light industrial
activities have combined with tourism to produce a more diversified
economic base.
Agriculture
The land area of Dade County includes large agricultural expanses
on which limes, avocadoes, mangoes, tomatoes, and pole beans are
grown for the fresh produce market. During the sunny and warm
winter months, the mild climate enables these crops to be grown and
harvested. Many of the vegetables are shipped to the north and
northeastern part of the United States during the winter. Exotic
tropical fruits such as plantains, lychee fruit, papaya, sugar ap-
ples and persian limes grow in the area and cannot be grown any-
where else in the Country.
137
sk
Film Industry
Growth Factors (cone
The Dade County film
and television industry
ranks third nationally
behind
New York and
Los Angles in its annual
dollar volume of pro-
duction
costs. As
estimated by the State of
Florida Department of
Commerce,
the total
economic benefit to the
local area was more
Telepho.
than $50
million for
fiscal year 1980 and more
than $78 million for
Year Service-
fiscal
1981.
1981 1, 664 , 0t
Growth
Factors
1980 1,566,9`
1979 1,472,63-
Data,
reflecting the
growth of the economy of
the Metropolitan Dade
1978 1,368,63
County
(including the
City of Miami), is presented
in the ten year
1977 1,328,41
summaries
below:
1976 1,251,3-,
1975 1,235,01
1974 1,216,7E
CITY OF MIA_M_I, FLORIDA
1973 1,181,57
GROWTH FACTORS RELATIVE TO DADE COUNTY,
FLORIDA
1972 1,092,96
Electricity Customers and Sales
Source: Economic So
Residential
Commercial
Total KWH
Customers
Customers
Year
Sales (000-s) Average Number
Average Number
1981
14,815,300
595,300
67,700
1980
14,797,600
587,200
65,100
Miami International
1979
14,280,000
572,200
62,400
1978
13,060,000
546,000
59,500
Metropolitan Dade C
1977
13,032,900
537,200
57,600
within its boundari
1976
12,388,600
511,900
55,200
responsible for the
1975
12,416,964
494,269
53,334
ranks second in the
1974
12,162,021
501,040
52,594
passengers using its
1973
12,164,376
488,642
50,010
fifth in the world
1972
11,237,948
466,814
43,822
air cargo.
During 1981, airpor
Water Customer and Sales
domestic and intern
portance was the 2.
airlines serving Mia
Number of
Consumption
routes convenient fo
Year
Water Meters
Million of Gallons
1981
180,600
89,253
The Airport's faci
1980
174,300
83,449
parking complex, app
1979
167,000
76,363
and office space an
1978
145,000
72,409
dividuals are employ
1977
130,500
71,774
1976
126,500
70,770
A ten year summary
1975
122,870
69,437
cargo handled follow
1974
120, 936
69,020
1973
117,807
64,785
1972
105,166
59,558
138
Growth
_
Factors (continued)
i ►t k y I h I t, I , l r► t I,,, i.►
I I
_
icy I I a t v„ I nin, „1
I,r ,
E'1oI I;11 t►PI,r1I ► Int.1)1
too a ot„ :► w:►•i
char+ iiii I I I•)!i
;n()r,•
f-,r
Telephone
Motor Vehicle
Sales Tax
Collections
Year
Service
Registrations
1981
1980
1,664,000
1,288,067
466,553
1,566,956
1,173,813
381
381,381
the i,
1919
1,471 631
1,018,734
, 61978
c�t�tt,l in tli• ►•n
;•.ar
1977
1,368,634
1,081,224
298,386
1,328,413
1,268,632
259, 119
1976
1,251,390
1, 200, 2 12
224,801
1975
1,235,015
1,009,855
218,347
1974
1,216,761
955,045
233,487
1973
1, 181,573
925,881
193,845
It , b't.�►tt I uA
1972
---------------
1,092,960
863,564
178, 565
Iri
,:nmmo r•, i .3 ;
N
Source: Economic Society of South Florida
Gus r?)m,? r i
Ave r,igll '1u�5e�
Miami International Airport
%9,5`)1)
Metropolitan Dade County is the owner of five separate airports
57,
within its boundaries. The Dade County Aviation Department is
31-3,190
responsible for their operations. Miami International Airport
53,33y
ranks second in the nation and ninth in the world in the number of
passengers using its facilities. It ranks second in the nation and
51),
fifth in the world in the movement of domestic and international
43,32'
air cargo.
During 1981, airport services were provided to nearly 20 million
domestic and internationally scheduled passengers. Of major im-
portance was the 2.9% increase in international passengers. The
airlines serving Miami International Airport provide world-wide air
Consumption-
routes convenient for importers and exporters.
Million of Gal_)ns
— —
0
89, :i
The Airport's facilities include: three runways, a 1,000 car
83,.E-)a
parking complex, approximately two million square feet of warehouse
and office space and maintenance shops. Approximately 30,000 in-
409
dividuals are employed at the Airport.
�'''
A ten year summary of the growth of both passengers served and air
cargo handled follows:
o
139 ".s d t,
Miami International Airport (continued)
Total
Total Cargo -
passengers
(thousand
Year
(thousands)
pounds
1981
19,849
1,170,009
1980
20,507
1,130,799
1979
19,628
1,066,313
1978
16,501
1,026,593
1977
13,736
987,998
1976
12,884
808,791
1975
12,068
745,453
1974
12,444
778,015
1973
12,722
720.806
1972
12,266
641,687
----------------------
Source: City of Miami Planning Department
Port of Miami
The Port of Miami is owned by Metro -Dade County and is operated by
the Dade County Seaport Department. From 1972 to 1981, the number
of passengers sailing from the Port increased from 678,394 to
1,567,709, an increase of 131%. This increased growth explains the
Port's emergence as the world's leading cruise ship port.
The Port of Miami specializes in unitized trailer
cargo handling concepts. The most effective use of
the Port's convenient location combine to make the
tion's leading exporter to the Western Hemisphere.
1981, the total cargo handled increased from over 0.8
to over 2.7 million tons, an increase of 237%.
140
and container
equipment and
Port the na-
From 1972 to
million tons
Port of Miami (conti
In 1979, details we
Miami from 300 acre
is needed to accommo
importers, exporter
wish to conduct busi
A ten year summary
handled follows:
Year
1981 g
1980
1979
1978
1977
1976
1975
1974
1973
1972
Reve
12,46
12,05
8,11
6,23
5,37
4,95
4,51
3,85
3,70
2,84
Source: Dade County S
al Cargo -
housand
pounds
170,009
130,799
066,313
026,593
987,998
808,791
745,453
778,015
720.806
641,687
ty and is operated by
2 to 1981, the number
sed from 678,394 to
d growth explains the
ship port.
railer and container
use of equipment and
make the Port the na-
phere. From 1972 to
over 0.8 million tons
Port of
Miami (continued)
In 1979,
Miami
details were completed for the expansion
from 300 acres to a 525 acres complex.
of the Port of
The additional space
is needed
to accommodate the
increasing number
of shippers, buyers,
importers,
exporters, freight forwarders and
cruise passengers who
wish to
conduct business through the Port.
A ten
year summary of the growth in revenues,
passengers and cargo
handled
follows:
Total
Cargo
g
Year
Revenues
Passengers
(Tonnage)
1981
$ 12,468,522
1$67,709
2,757,374
1980
129056,896
1,459,144
2,485,791
1979
8,110,840
1,350,332
2,291,382
1978
6,236,385
982,275
1,922,864
1977
5,374,978
978,016
1,711,535
1176
4,956,670
1,029,687
1,525,095
1975
4,517,946
804,926
1,257,608
1974
3,850,232
728,201
1,301,052
1973
3,700,182
851,164
1,205,454
1972
2,8420933
678,394
799,591
--------------------
Source:
Dade County Seaport
Department
■
■
M
141