HomeMy WebLinkAboutExhibit 6Sports and Exhibition Authority
Operating Budget
Notes to Proposed Budget for 2007/2008
General Revenue
Interest Income: Income based on projected revenue from MSEA funds held in interest earning
accounts.
General Expenses
I. Payroll, Taxes and Benefits
Executive Director: proposed $50,000. The Executive Director provides overall management
for the Miami Sports and Exhibition Authority.
Project Manager: 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 financial records.
SS/Medicare Contribution: proposed $9,200. These funds will be used for Social Security and
Medicare benefit costs of administrative employees.
Retirement Plan: proposed $8,200. These funds will be used for the retirement plan of the
administrative employees.
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.
Contingencies: proposed $1,000. These funds will be used for any unforeseen expenses incurred
during the year.
Courier / Delivery: proposed $1,000. These funds will be used for courier services.
General Jnsurance & Directors Liability Insurance: proposed $33,000. These funds will be
used to purchase General Insurance & Directdrs Liability Insurance for Miami Sports and
Exhibition Authority.
Office Equipment / 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 $1,500. These funds will be used for telephone services.
III. Professional Services
Audit: proposed $40,000. These funds will be used to pay for the annual audit of MSEA's
finances.
Professional Services / projects: proposed $20,000. These funds will be used to pay for
professional services and projects for MSEA.