HomeMy WebLinkAboutMCRA-R-12-0001 02-27-12 Legislation (signed) with attachmentsCity of Miami
Legislation
MCRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00177 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE MIDTOWN
COMMUNITY REDEVELOPMENT AGENCY ("CRA"), WITH ATTACHMENT(S),
APPROVING AND ADOPTING THE CRA'S AMENDED SPECIAL REVENUE FUND
BUDGET AND GENERAL OPERATING BUDGET FOR THE FISCAL YEAR
COMMENCING OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2012;
FURTHER DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMITA COPY OF
THE AMENDED BUDGETS TO THE CITY OF MIAMI AND MIAM1-DADE COUNTY.
WHEREAS, the Board of Commissioners of the Midtown Community Redevelopment Agency,
by Resolution No. MCRA-R-11-0006, passed and adopted on July 28, 2011, approved and adopted the
CRA's Special Revenue Fund Budget and General Operating Budget for the fiscal year commencing
October 1, 2011 and ending September 30, 2012; and
WHEREAS, it is necessary to amend the budget to reflect the actual tax increment funds
received in January 2012; and
WHEREAS, the Board of Commissioners wishes to approve and adopt the CRA's amended
Special Revenue Fund Budget and General Operating Budget for the fiscal year commencing October
1, 2011 and ending September 30, 2012;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
MIDTOWN COMMUNITY REDEVELOPMENT AGENCY OF THE CITY OF MIAMI, FLORIDA:
Section 1. The recitals and findings contained in the Preamble to this Resolution are adopted
by reference and incorporated herein as if fully set forth in this Section.
Section 2. The CRA's amended Special Revenue Fund Budget and General Operating Budget
for the fiscal year commencing October 1, 2011 and ending September 30, 2012, as attached, is
approved and adopted.
Section 3. The Executive Director is directed to transmit a copy of the amended budgets to the
City of Miami and Miami -Dade County.
Section 4. This resolution shall become effective immediately upon its adoption.
APPROVED AS TO FORM AND CORRECTNESS:
JULIE O. BRhf�
GENERAL COUNSEL
City of Miami Page 1 of 1 File Id: 12-00177 (Version: 1) Printed On: 2/21/2012
MIDTOWN SPECIAL REVENUE FUND BUDGET
FY 2012
Budget -
MIDTOWN
Special
Revenue
Revenues
* AD VALOREM - CITY OF MIAMI
$1,001,196
* AD VALOREM - MIAMI DADE COUNTY
$635,531
MISC -INTEREST
CARRYOVER FUND BALANCE
TOTAL REVENUES
$1,636,727
Expenditures
PROFESSIONAL SERVICES - LEGAL
$0
ACCOUNTING AND AUDIT
$3,000
PROFESSIONAL SERVICES - OTHER
$0
OTHER CONTRACTUAL SERVICES
$0
INTERFUND TRANSFER (Administration)
$5,000
INTERFUND TRANSFER (Grant)
$0
OTHER CURRENT CHARGES AND OBLIG
$1,620,360
INTERFUND TRANSFER (Debt Service)
$O
CONSTRUCTION IN PROGRESS
$0
OTHER GRANTS AND AIDS
$8,367
BUDGET RESERVE
$0
TOTAL EXPENDITURES
$1,636,727
REVENUE LESS EXPENDITURES
$D
* Taxable Value In the CRA District - (DR-422)
Less Base Value (2004)
Tax Increment Value
Divided by
Multiplied by
City Millage (estimate)
County Millage (estimate)
Gross Ad Valorem - City of Miami
Gross Ad Valorem - Miami Dade County
FY 2010 Estimated Ad Valorem Value Adjustment
Divided by
Multiplied by
City Millage (estimate)
County Millage (estimate)
FY 2010 Estimated Ad Valorem Adjustment (City of Miami)
FY 2010 Estimated Ad Valorem Adjustment (Miami Dade County)
Net Ad Valorem - City of Miami
Net Ad Valorem - Miami Dade County
$172,216,084
($29,281,592)
$142,934,492
$1,000
95%
7.571
4.805
$1,028,049
$652,460
$3,683,437
$1,000
95%
7.674
4.8379
(26,853.36)
(16,929.09)
$1,001,196
$635,531
1
MIDTOWN CRA GENERAL OPERATING BUDGET
FY 2012
Amended
Budget
General
Operating
Fund
Revenues
FY 2011 ESTIMATED CARRYOVER FUND BALANCE -
GENERAL FUND
OTHER INTERFUND TRANSFERS -
Estimated FY 2012 TIF Revenue Share -MIDTOWN
$5,000
Special Revenue Fund
TOTAL REVENUES
$5,000
Expenditures
REGULAR SALARIES
$0
OTHER SALARIES
$0
FICA TAXES
$0
LIFE AND HEALTH INSURANCE
$0
RETIREMENT CONTRIBUTION
$0
FRINGE BENEFITS
$0
OTHER CONTRACTUAL SERVICE
$0
TRAVEL AND PER DIEM
$0
COMMUNICATIONS
$0
UTILITY SERVICE
$0
INSURANCE
$0
OTHER CURRENT CHARGE
$0
SUPPLIES
$0
OPERATING SUPPLIES
$0
SUBSCRIPTION MEMBERSHIP
$0
MACHINERY AND EQUIPMENT
$0
ADVERTISING
$0
RENTAL AND LEASES
$0
POSTAGE
$0
REPAIR/MAINTENANCE - OUTSIDE
$0
INTERFUND TRANSFER
$0
BUDGET RESERVE
$5,000
TOTAL EXPENDITURES
$5,000
REVENUE LESS EXPENDITURES
$0
FY 2012 MIDTOWN General Operating Budget
FY 2012 MIDTOWN Special Revenue Budget
% of Total Special Revenue Budget
$5,000
$1,636,727
0.31%
2