HomeMy WebLinkAboutCRA-R-12-0015 02-27-12 Legislation with attachmentsCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00166
Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE SOUTHEAST
OVERTOWN/PARK WEST COMMUNITY REDEVELOPMENT AGENCY ("CRA"),
WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S AMENDED
SPECIAL REVENUE FUND BUDGET FOR THE FISCAL YEAR COMMENCING
OCTOBER 1, 2011 AND ENDING SEPTEMBER 30, 2012; FURTHER DIRECTING
THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THE AMENDED
BUDGET TO THE CITY OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Board of Commissioners of the Southeast Overtown/Park West Community
Redevelopment Agency, by Resolution No. CRA-R-11-0042, passed and adopted on July 25, 2011,
approved and adopted the CRA's Special Revenue Fund 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 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
SOUTHEAST OVERTOWN/PARK WEST 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 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 budget 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. BRU
GENERAL COUNSEL
City of Mimi Page 1 of 2 File Id: 12-00166 (Version: 1) Printed On: 2/14/2012
File Number: 12-00166
City of Miami Page 2 of 2 File Id: 12-00166 (Version: 1) Printed On: 2/14/2012
SEOPW SPECIAL REVENUE FUND BUDGET
FY 2012
Amended
Budget
SEOPW
Special
Revenue
Revenues
* ADVALOREM TAXES - CITY OF MIAMI
$4,951,081
* ADVALOREM TAXES - MIAMI DADE COUNTY
$3,147,216
CARRYOVER FUND BALANCE
$24,480,990
OTHER NON -OPERATING
TOTAL REVENUES
$32,579,287
Expenditures
PROFESSIONAL SERVICES - LEGAL
$205,000
ACCOUNTING AND AUDIT
$28,500
PROFESSIONAL SERVICES - OTHER
$485,150
OTHER CONTRACTUAL SERVICES
$213,886
LAND
$ 847,500
INTERFUND TRANSFER (Debt Service)
$1,496,695
INTERFUND TRANSFER (Administration)
$1,013,886
INTERFUND TRANSFER (Grant)
$356,330
CONSTRUCTION IN PROGRESS
$19,040,141
OTHER GRANTS AND AIDS
$8,792,199
BUDGET RESERVE
$100,000
TOTAL EXPENDITURES
$32,579,287
REVENUE LESS EXPENDITURES
$D
* Taxable Value in the CRA District - (Attached DR-422 Form)
Less Base Value (1982)
Tax Increment Value
Divided by
Multiplied by
City Millage (Actual)
County Millage (Actual)
$929,997,146
($78,305,502)
$851,691,644
$1,000
95%
7.5710
4.8050
Gross Ad Valorem - City of Miami $6,125,750
Gross Ad Valorem - Miami Dade County
FY 2009 - Adjustment Detail - Value Adjustment Board
Divided by
Multiplied by
City Millage (Actual)
County Millage (Actual)
FY 2009 - Adjustment Detail - Value Adjustment Board (City)
FY 2009 - Adjustment Detail - Value Adjustment Board (County)
Net Ad Valorem - City of Miami
Net Ad Valorem - Miami Dade County
$3,887,759
$161,127,628
$1,000
95%
7.6740
4.8379
(1,174,668.75)
(740,543.38)
$4,951,081
$3,147,216
2/17/20128:57 AM 1
SEOPW CRA GENERAL OPERATING BUDGET
FY 2012
Amended
Budget
General
Operating
Fund
Revenues
FY 2011 CARRYOVER SPECIAL REVENUE FUND BALANCE
$100,000
OTHER INTERFUND TRANSFERS -
FY 2012 TIF Revenue Share-SEOPW Special Revenue
$913,886
Fund
TOTAL REVENUES
$1,013,886
Expenditures
REGULAR SALARIES
$439,705
OTHER SALARIES
$21,500
FICA TAXES
$35,176
LIFE AND HEALTH INSURANCE
$48,600
RETIREMENT CONTRIBUTION
$22,471
FRINGE BENEFITS
$7,350
OTHER CONTRACTUAL SERVICE
$42,945
TRAVEL AND PER DIEM
$10,000
COMMUNICATIONS
$2, 750
UTILITY SERVICE
$36,100
INSURANCE
$31,500
OTHER CURRENT CHARGE
$4,250
SUPPLIES
$6,000
OPERATING SUPPLIES
$5,000
SUBSCRIPTION MEMBERSHIP
$3,000
MACHINERY AND EQUIPMENT
$11,500
ADVERTISING
$15,000
RENTAL AND LEASES
$78,288
POSTAGE
$1,500
REPAIR/MAINTENANCE - OUTSIDE
$1,750
INTERFUND TRANSFER
$23,500
BUDGET RESERVE
$166,001
TOTAL EXPENDITURES
$1,013,886
REVENUE LESS EXPENDITURES
$0
FY 2012 SEOPW General Operating Budget
FY 2012 SEOPW Special Revenue Budget
% of Total Special Revenue Budget
$1,013,886
$32,579,287
3%
2