HomeMy WebLinkAboutExhibitCoconut Grove Business Improvement Committee
BIC Operating Budget FY '08
October 2007 - September 2008
BIC Approved Budget 9.6-07
Parking Waiver Revenue, FY 08 Revenue,
& City of Mlaml General Fund Revenue, and Expenses
Revenues
Parking Waiver Revenue
Less:
Reserve (1O% Contribution to Parking Waiver Trust Fund)
Reimbursement of '05-06 Contribution
from Trust Fund (50% of $75K)
Sub -Total Parking Waiver Revenue
Contribution from City of Mlaml General Fund
Revenue
Expenses -
Administrative Expenses
Staff salaries and related insurance
Office rent and utilities
Licenses, fees, dues
Miscellaneous
Website
Office equipment and office supplies
Management Fees (DOSP)
- Sub -Total -Administrative Expenses_
Valet Parking Pilot Program
BID Formation Process
BIC to BID Phase III Consultant
BIC to BID Local Consultant
PR Firm for BID formation campaign
Print budget for BID formation campaign
Outside legal counsel for BID formation campaign
BIC to BID formation process resident retenanting surveys
BIC to BID Contingency Fund
Sub -Total 'BID Formation Process Expenses
Parking Waiver Revenue Allocation for Marketing
Total Parking Waiver Fund Expenses
Balance - Parking Waiver Funds
Coconut Grove Business Improvement Committee
BIC Operating Budget FY '08
October 2007 - September 2008
BIC Approved Budget 9-6-07
$ 393,978
39,398 1
Parking Surcharge Revenue & Expenses
Oct. '07 - Sept. '08
Refund to City from '06-'07
Total Surcharge Revenue
Surcharge Infrastructure
37,500 2
$ 317,080 Expenses
Horticultural Plantings & Maintenance
Holiday Lights
$ 200,000 Street Signage
Street & Sidewalk Maint. & Trash
Parking Feasibility Study -Grove Master Plan
Contingency
Total Surcharge
Infrastructure Projects
$ 617,080 1
$ 287,000
$ 287,000
$ 115,800 Balance of Surcharge Funds
45,000 3
3,000
3,000
13,500 a
12,000 e
36,000 8
-S.. 228,300 ,
$ 60,000 7
$ 15,000
5,000
10,000
10,000
10,000
10,000
14,800
$ 74,800
$ 140,189
$ 493,289
$ 23,791
$ 30,000
75,000
55,000
20,000
30,000
77,000
(
$. 287,000 I
Special Events & Marketing Revenue & Expenses
Special Events Supplemental Fees
Sidewalk Cafe Fees
Banner Fees
Perking Waiver Rev. Allocation for Marketing
Total Special Events & Marketing Revenues
Expenses
Summer Media Campaign
Fourth of July Celebration
Grove Events
Holiday Decorations
Advertising
Total Special Events & Marketing Expenses
Balance of Special Events
and Marketing Fund
Is
$ 25,011
62,300
3,000
140,189
230,600
$ 134,000
7,500
84,000
5,000
$ 230,600
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Footnotes for FY '08 Operating Budget with 50% Contribution to PWTF
1 - $119,747 was returned to the PWTF from FY-07 PW fund's with the 10% from FY-08, we have sent $159,145 to PWTF
1
2 - Second' and final repayment -making $75,000 total
3 - a) Office rent $30,000
4 - a) website hosting ($275x12) $3,300
b) webmaster ($600x12) $7,200
c) CoconutGrove.com domain usage ($250x12) $3,000
5 - a) office equipment $6,000
b) office supplies $6,000
1
6 - This figure represents a $3,000 per month management fee paid to MPA for financial and administrative services provided to the BIC
7 - In all likelihood, we will need to obtain another $50,000 from PWTF midyear for Valet parking
8 - This amount was reduced in FY-07 because we paid $5,200 in additional office rent