HomeMy WebLinkAboutCRA-R-12-0017 02-27-12 Legislation (signed) with attachmentsCity of Miami
Legislation
CRA Resolution
City Hall
3500 Pan American
Drive
Miami, FL 33133
www.miamigov.com
File Number: 12-00175 Final Action Date:
A RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE OMNI
REDEVELOPMENT DISTRICT COMMUNITY REDEVELOPMENT AGENCY
("CRA"), WITH ATTACHMENT(S), APPROVING AND ADOPTING THE CRA'S
AMENDED SPECIAL REVENUE FUND BUDGETAND GENERAL OPERATING
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 BUDGETS TO THE CITY
OF MIAMI AND MIAMI-DADE COUNTY.
WHEREAS, the Board of Commissioners of the Omni Redevelopment District Community
Redevelopment Agency, by Resolution No. CRA-R-11-0046, 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
OMNI REDEVELOPMENT DISTRICT 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, are
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:
City of Miami
Page I of 2
File Id: 12-00175 (Version: I) Printed On: 2/21/2012
File Number. 12-00175
GENERAL COUNSEL
City of Miami Page 2 of File Id: 12-00175 (Version: 1) Printed On: 2/21/2012
OMNI SPECIAL REVENUE FUND BUDGET
FY 2012
Amended
Budget
OMNI
Special
Revenue
Revenues
* AD VALOREM - CITY OF MIAMI
$2,764,458
* AD VALOREM - MIAMI DADE COUNTY
$1,760,167
MISC -INTEREST
CARRYOVER FUND BALANCE
$28,651,081
TOTAL REVENUES
$33,175,706
Expenditures
PROFESSIONAL SERVICES - LEGAL
$84,871
ACCOUNTING AND AUDIT
$7,000
PROFESSIONAL SERVICES - OTHER
$112,510
OTHER CONTRACTUAL SERVICES
$151,122
INTERFUND TRANSFER (Administration)
$1,033,174
OTHER CURRENT CHARGES AND OBLIG
$2,513,119
INTERFUND TRANSFER (Debt Service)
$7,156,893
INTERFUNDTRANSFER (Grant)
$399,754
CONSTRUCTION IN PROGRESS
$17,442,484
OTHER GRANTS AND AIDS
$4,174,780
BUDGET RESERVE
$100,000
TOTAL EXPENDITURES
$33,175,706
REVENUE LESS EXPENDITURES
Sc
* Taxable Value in the CRA District - (Attached DR-422 Form)
Less Base Value (1986)
Tax Increment Value
Divided by
Multiplied by
City Millage (Actual)
County Millage (Actual)
Gross Ad Valorem - City of Miami
Gross Ad Valorem - Miami Dade County
FY 2009 Adjustment Detail (Adjustment Board)
Divided by
Multiplied by
City Millage (Actual)
County Millage (Actual)
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
$817,906,417
($246,898,822)
$571,007,595
$1,000
95%
7.571
4.805
$4,106,944
$2,606,507
$184,146,760
$1,000
95%
7.674
4.8379
(1,342,485.12)
(846,339.43)
$2,764,458
$1,760,167
1
OMNI 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-OMNI Special
$1,033,174
Revenue Fund
TOTAL REVENUES
$1,033,174
Expenditures
REGULAR SALARIES
$439,705
OTHER SALARIES
$21,500
FICA TAXES
$35,176
LIFE AND HEALTH INSURANCE
$60,640
RETIREMENT CONTRIBUTION
$27,249
FRINGE BENEFITS
$7,350
OTHER CONTRACTUAL SERVICE
$5,015
TRAVEL AND PER DIEM
$10,000
COMMUNICATIONS
$2,750
UTILITY SERVICE
$22,500
INSURANCE
$80,500
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
$171,000
TOTAL EXPENDITURES
$1,033,174
REVENUE LESS EXPENDITURES
$0
FY 2012 OMNI General Operating Budget
FY 2012 OMNI Special Revenue Budget
% of Total Special Revenue Budget
$1,033,174
$33,175,706
3%
2