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Submitted into the public record for
item(s) BU.1 on 04-25-2024, City Clerk
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CITY OF MIAMI
FY 2023-24
March 2024 Projections
15269 Submittal -Finance Department-PowerPoint Presentation
Submitted into the public record for
item(s) BU.1 on 04-25-2024, City Clerk
General Fund - Revenues
FY 2023-24
Amended Budget
FY 2023-24
Year -to -Date Actual
FY 2023-24
Year -End Projection
YE Projection
to Budget
Property Taxes
$ 529,682,000
$ 450,969,190
$ 512,499,000
$ (17,183,000)
Franchise Fees/Other Taxes
131,767,000
52,815,412
152,167,000
20,400,000
Interest
11,508,000
21,573,419
30,003,000
18,495,000
Transfer - In
25,390,000
25,671,961
25,136,000
(254,000)
Fines & Forfeitures
6,743,000
3,561,872
7,912,000
1,169,000
Intergovernmental Revenues
111,569,000
46,671,929
105,841,000
(5,728,000)
Licenses and Permits
87,898,000
58,909,530
106,830,000
18,932,000
Other Revenues (Inflows)
5,772,000
4,115,595
7,173,000
1,401,000
Charges for Services
132,737,000
75,932,703
140,839,000
8,102,000
Total
$ 1,043,066,000
$ 740,221,611
$ 1,088,400,000
$ 45,334,000
Submitted into the public record for
item(s) BU.1 on 04-25-2024, City Clerk
General Fund - Expenditures
FY 2023-24
Amended Budget
FY 2023-24
Year -to -Date Actual
FY 2023-24
Year -End Projection
YE Projection
to Budget
Personnel
$ 746,763,930
$ 483,764,030
$ 750,325,000
$ (3,561,070)
Operating Expense
188,150,070
121,722,199
198,973,000
(10,822,930)
Capital Outlay
892,000
760,662
1,190,000
(298,000)
Non -Operating Expenses
23,435,000
3,368,997
19,734,000
3,701,000
Transfers - Out
83,825,000
83,859,846
90,175,000
(6,350,000)
Total
$ 1,043,066,000
$ 693,475,734
$ 1,060,397,000
$ (17,331,000)
Submitted into the public record for
item(s) BU.1 on 04-25-2024, City Clerk
Internal Service Fund
FY 2023-24
Amended Budget
FY 2023-24
Year -to -Date Actual
FY 2023-24
Year -End Projection
YE Projection
to Budget
Revenues:
Transfers -IN
Other Revenues (Inflows)
Charges for Services
Total
$
112,870,000
46,000
$ 112,916,000
$ 2,976
$
110,923,696 116,221,000
28,481
66,000
$ 110,955,153 $ 116,287,000
$
3,351,000
20,000
$ 3,371,000
Expenditures:
Innovation Technology
Risk Management
Total
Revenues Over/(Under) Expenditures
16,161, 000
96,755,000
$ 112,916,000
$
8,770,261
16,525,000
46,095,068
96,671,000
$ 54,865,329
$ 113,196,000
$ 56,089,824 $ 3,091,000
(364,000)
84,000
$ (280,000)
Submitted into the public record for
item(s) BU.1 on 04-25-2024, City Clerk
ITEM
AMOUNT
Projected Revenues
1,088,400,000
Projected Expenditures
1,060,397,000
Revenues Over/(Under)
Expenditures
28,003,000
Internal Service Fund (ISF) Net
Year -End Surplus/(Deficit)
3,091,000
Net Year -End All Funds
Surplus/(Deficit)
31,094,000
Net Year -End Building Fund
(Reserve)
11,206,000
Net Year -End General Fund*
19,888,000
* Includes $5 million of Contingency Reserve. Also, due to the
volatility of the ISF and the upcoming labor contracts, it is not
recommended to consider the surplus as excess.
Submitted into the public record for
item(s) BU.1 on 04-25-2024, City Clerk
CITY OF M IAM I
Thank You!