HomeMy WebLinkAboutVK Memos09 AGENDA ITEM SUMMARY FORM
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FILE ID: A9'/��
Date: 08/31/2010 Requesting Department: Virginia Key Beach Park Trust
Commission Meeting Date: 09/27/2010 District Impacted: 2
Type: X Resolution ❑ Ordinance F-1Emergency Ordinance F-1Discussion
Department
Discussion Item Matter ID tm
❑ Other
Subject: FY 2010-2011 BUDGET
Purpose of Item:
The Board of Trustees of Virginia Key Beach Park, (the "Trust") request that the City Commission
approves the attached resolution requesting the total amount of $391,307 for FY 2010-2011 budget.
This sum consist of -0- (zero) contribution from the City of Miami General Funds, the approval of its
$106,307 from the Trust existing fund balance and $285,000 in anticipated revenue to provide the
general administrative and operational staff the support to continue the progress and improvement at
Historic Virginia Key Beach Park.
Background Information:
The Virginia Key Beach Park Trust was created by the Miami City Commission in 2000 to plan,
develop, and manage Historic Virginia Key Beach Park for maximum community utilization,
enjoyment, and historic expression.
Bud;?et Impact Analysis
NO Is this item related to revenue?
NO Is this item an expenditure? If so, please identify funding source below.
General Account No.-
Special
o:Special Revenue Account No:
CIP Project No:
NO Is this item funded by Homeland Defense/Neighborhood Improvement Bonds?
Start Up Capital Cost:
Maintenance Cost:
Total Fiscal Impact:
CIP
If using or receiving capital funds
Grants
Purchasin
Final Annrovals
(SIGN AND DATE) 1
Bu�
Risk Man
Dept. Dir(
Chief City Manager.
Page 1 of 1
Memo
To: The Honorable Tomas Regalado, Mayor and members of the City of Miami
Commission
From: Guy Forchion, Executive Director
Date: September 2, 2010
Re: Fiscal Year 2011 Operating Budget
Recommendation:
The Board of Trustees of Virginia Key Beach Park Trust, (the "Trust"), request that the City
Commission approves the Fiscal Year 2011 in the amount of $391,307.
Budget Summary
The Trust's Carry Over Fund Balance of $106,307 and $285,000 in projected revenue will
allow the Trust to continue administrative tasks with a total operating budget of $391,307.
Assumptions made in this "amended" development of the FY 2011 budget are:
• Operational and amusement revenue is estimated to be $110,000
• Grants and fundraising events revenue is estimated to be $75,000
• Major event revenue generated by the Trust is estimated to be $70,000
• Partnerships with community agencies will generate revenue estimated to be
$30,000
The Following are Significant Accomplishments in FY2010
1. Reconfiguration of the Trust Administrative Building for community and cultural activities.
2. Commencement of outdoor interpretive exhibit design.
3. YMCA Marine Biology Summer Youth Camp.
4. Continued ecosystem restoration and environmental maintenance.
5. Buoy line installation for beach safety.
1
Major objectives for FY 2011
1. Develop partnerships to improve the Trust's financial sustainability while enhancing public
use, cultural programming and recreational activities at the historic beach park.
2. Installation of a safe swimming area on the historic beach park.
3. Installation of nature trails, a native plant nursery and interpretive signage
Attachments Included.