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17ia.mi Sports and Exhibition Authorit37
OPERATING BUDGET
FISCAL YEAR 2006/2007
301 North Biscayne Blvd., Miami EL 33132 (305) 3'5'8-7550 Fax (305) 358-1211
MIAMI SPORTS AND EXHIBITION AUTHORITY
OPERATING BUDGET FOR FISCAL YEAR 200612*07
Table of Contents
I. MSEA Members
I. Letter of Introduction
III. Budget. Summary
IV. MSEA Operating Budget
V.Organization•al Chart
MIAM1 SPORTS AND EXHIBITION AUTHORITY
BOARD OF DIRECTORS
Mayor Manuel A. Diaz, Chairman
Tomas Regaiado, Vice -Chairman
Joe Sanchez, Commissioner
Angel Gonzalez, Commissioner
Samuel W. Gentry
Eli Feinberg
John Harris
Allan Rubin
Diego Garcia Jr.
Bob Beaman
EXECUTIVE DIRECTOR
Timothy F. Schmand
t
3u]y 31, 2006
oi,e441,01.1
Honorable Mayor Diaz
and Members of the City Commission;
The Miami Sports and Exhibition Authority (MSEA) was established in 19'83, pursuant
to Florida Statute 212.057, as an independent and autonomous agency and
instrumentality of the City of Miami. MSEA was created to promotesports, conventions
and .exhibitions and to strive to generate community support to achievethis purpose. It
was further given the authority to exercise any power usually possessed by private
corporations performing similar functions that are not in conflict with the Florida
constitution or law. Pursuant to that mandate, MSEA continues to serve the community
through the redirection of its portion of CDT funding for the Orange Bowl Renovation
Project, and as the landlord ,of the Gh.ildren's Museum and the Chalk's seaplane operation
on Watson Island. It.also has primary responsibility in the Watson island heliport
negotiations.
In the past two years MSEA has successfully auctioned off the Miami Arena and other
associated properties, reaping over S36,004,000 from the sales as well as returning those
properties to the tax rolls.
The attached budget will enable MSEA to continue in its current mode, while the board
contemplates future opportunities. The budget was unanitnously•approv.edby the MSEA.
board at its May 30, 2006, meeting, and I would respectfully request that you do the
same.
Thank you in advance for your assistanoe.
Executive Director
Enc.
Cc: file
30] north Biscayne Blvd., Miami FL 33132 (305) 358-7550 Fax (305) 35,8-1211
Miami Sports and Exhibition Authority
Operatin g Bud -get
Nodes to Approved Budget for 2006/2 5 7
General ReVentae
Interest Income: Income based on projected revenue from MSEA funds held in interestearning
accounts.
Gen-eral Expenses
1. Payroll, Taxes and Benefits
Executive Director: proposed $50.000. The Executive Director provides overall management
for the Miami Sports and Exhibition Authority.
Project :4 anaeer: proposed $40,000. The Project Manager is responsible for MSEA's finance,
bookkeeping and accounting functions and assists the Executive Director with the management of
Miami Sports and Exhibition Authority.
Bookkeeper: proposed "$30,000. The Bookkeeper reports to the Project Manager and is
responsible for daily maintenance of MSEA's financi-al records.
II. Operating Expenses
Business Meeting Expenses: proposed $3,500. These funds will be used for expenses associated
with the quarterly Board Meetings of Miami Sports and Exhibition Authority.
ContinRencles: proposed $1,000. These funds will be used for any unforeseen expenses incurred
during the year.
Courier 1 Delivery: proposed $ 1.500. These funds will be used forcourier services.
General insurance SI Directors Liabilii' Insurance: proposed $33,000. These funds will be
used to purchase General Insurance it Directors Liability Insurance for Miami Sports and
Exhibition Authority.
Office E uwmnent / Maintenance: proposed $1,200. These funds will be used for office
equipment rental, lease and maintenance contracts.
Office Supplies: proposed $1,000. These funds will be used to purchase office supplies.
Postage: proposed $1,200. These funds will be used to purchase postage.
Telephone: proposed $1,000. These funds will be used for telephone services.
ELI. Professional Services
Audit: proposed $40,000. These funds will be used to pay for the annual audit of MSEA°s
finances.
Professional Services /proiects: proposed $20,000. These funds will be used to pay for
professional services and projects for MSEA.
MI.&\B WORTS AND tXH!3IT4ON AUTHORITY
Approved Budget
ftSCAL YEAR 2008-2007
Approved
DESCRIPTION
2007
Budget
1. Payroll, Taxes and Benefits
COMPENSATION AND BENEFITS
1 Executive Director
50,000
2 Project Manager
40,000
Marketing Manager.
Executive Assistant
3 Bookkeeper
30,000,
1,20;000
4 'Group Insurance
--
5 'SS/Medicare Contribution
9,200.
6 Retirement Plan
6.200,
Total Payroll, Tams and Benefits
E
137,400
II.Operating Expenses
7 Business Meeting Expenses
222,500
Business Travel
Car Allowance/Celphone, Mileage
Conference Registration
8 Contingencies
1,000
9 'Courier/Delivery
1,500
'Event Sponsorship
10 General Insurance .& Directors Liability Insurance
33,000'
Memberships/Subscriptions
Miscellaneous Warehouse Expenses
11 Office Equipment/Maintenance
1,200
12 Office Supplies
1,000
13 Postage
1,200
Printing
Promotions/Marketing
14 Telephone
1,000
Major Citywide 'Event
TOTAL OPERATING EXPENSES
43,400
II1. PROFESSIONAL SERVICES
15 Audit
40,000
1.6 Legal Support MSEA - WASTON ISLAND - City Attorney
17 Professional Services/ Temp
18 Professional Services/projects
2,0 000 ,.
TOTAL. PROFESSIONAL SERVICES
60,0o0
TOTAL OPERATING BUDGET
240,800 '
IV. CAPITAL EXPENDITURES
19 OFFICE EQUIPMENT PURCHASES
.24 Furniture $ Fixtures
21 •Melreese Golf Clubhouse
TOTAL CAPITALEXPENDITURES
,1
-
TOTAL OPERATING BUDGET Wl CAPITAL EXPENDITURES
240;800. ''i
Miami Sports and Exhibition Authority
ORGANIZATIONAL CHART
FISCAL YEAR 2006-2007
Miami City Commission 1
Hoard of Directors
J
1
Executive Director
i
Project Manager
Bookkeeper