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Home My WebLink AboutExhibit 1 SUBMIAMI SPORTS AND EXHIBITION AUTHORITY -."" - -- ------ - - -----la-w.F.iiikplprsif:kwa,i gg?T.,i.g..,,i.W`,.•:,;MVitkPF5,.::ili*WIE:61DED:;rE3ti dg et ' -3* 4-:',',-3, •:' '%,,,,,Y,—, *,,I0k4:4g.,,.li:',,,,rel*-,tk.-z,`,:,4, FISCAL YEAR 2011-2012 DESCRIPTION 2012 Budget REVENUES ' MSEA Reserve Funds Interest Income 53,500 - TOTAL REVENUE $ 53,500 I. Payroll, Taxes and Benefits COMPENSATION AND BENEFITS 1 Executive Director '..1.1t<6.""Al""' f ' 10 W'''''Ml:',:;-qkcaVi4',rilit',.•41,4N .2....:hoPc!.-04PP4-amgab.w.Kc-i..v.,,zatagl.e.3.-.....„,:t4,-.,. Marketing Manager. Executive Assistant 3 Bookkeeper Ak4.%,,•V., V - 4 Group nsurance _ , _ , SS/! 641draatelnf 6 Retirement Plan , _ .. Total Payroll, Taxes and Benefits - H. Operating Expenses 7 Business MeetirExpbnses f§jr14iIrFqraRe,ITttir'ggr -,'t WaIl...:'tWi.'81/64.-11$0441114t.f.6b60:N. OPAifil ' Conference Registration 9 Contingencies 04,f0o(iriar/DageTkr" ,..t_ 11 ,,- 6ti.litAgOiltP.4hg.)0hR7._ ..„., --., .,.. , 11 General Insurance & Directors Liability Insurance IVIbmbarahiWSubscriotions „_„.... 5i11-4' ..-CilratieCiti?;*.afejibtlia.Eipa001- ' .. 14P-iP4IiPm9t1f4400aci..:..., -,t 13 Office Supplies 14 Postage . ._ ''f-:'A.I;dij 4-4;41. ,m,,,Y435-vws.1.41,43t,, -431,MA.43,-; proriTidtilASIMbiketingrkt-,;,nwz,*- 15 Telephone Major Citywide Event 14330%'''4 '''''''''V'''' I- t , . : jil ail „ • ,t, :.li . , _ , , i -t-1 ..; - ;i , -,,,, .. ,- . ..„ .- itj vi ,,1 , ?., '',.:". ' ,tt 1 - ,t 20,000 ,_,,,,,,, ,444-0,,!,§-, mill,-?,,,,,,-,, --i-gz.,4•.1•3E-Y't.f: 1,300 .. Q - _ ;• ,,- -' U i ,,,-, 100 100 _ TOTAL OPERATING EXPENSES 30,500 III. PROFESSIONAL SERVICES 17-13341$64iNiii.icktiriAgAtOWitra.,00400eOr.iie ' ,p ?6f4',.gii.6**010:61t tO:600.42Stakatatgl„g, 18. „v. 19 Professional Services/projects - 15 000 'it:tig, dii.:,-,1 8,000 TOTAL PROFESSIONAL SERVICES 23,000 TOTAL OPERATING EXPENSES 53,500 IV. CAPITAL EXPENDITURES 20 OFFICE EQUIPMENT PyRC-IASES , 00iFifir.kitu're'::&F13itliaiNMV,4,n4TA:441,411PR-4Will;WAel 21 Melreese Golf Clubhouse ., .,._ ,tigliteltill TOTAL CAPITAL EXPENDITURES - . .-{irtasLt0I'IRSTINO$UliGETV,ICATJUVEXPENDITURES'4. 4 _ 1.$53:;50P1 Excess(shortage) of Revenue over Expenses - SabSer) soy, :eite decti_pne-44-- poEIs & exhibition athority Miami Sports d Exhibition Authority OP .RATINGBUDGET FI CAL YEAR 2011/2012 MIAMI SPORTS AND EXHIBITION' AUTHORITY OPERATING BUDGET FOR FISCAL YEAR AR 2011/20 Table of Contents I. MSEA Members II. Letter of Introductio III. Budget Summ 1 y IV. MSEA Operatjil(g Budget i MIAMI SPORTS AND EXHIBITION AUT:I G RITY BOARD OF DIRECTOR Mayor Torras Regalado, Ch 'man Francis Suarez, Vice-Ch rnnan Wifredo Gort, Comm} sioner Marc Sarnoff, Comp4issioner Eli Feinb rg Walter F.zier Dwightj/ackson Nath0 Kurland Gfe Meehan A Ahony Recio ay Solowsky EXECUTIVE DIRECTOR / Kirk R. Menendez ch ,, exhibition .authority July 28, 2011 . Honorable Mayor Regalado And Members of the City Commission The Miami Sports and Exhibition Authority (MSEA) was established» 1983, pursuant to Florida Statute 212.057, as an independent and autonomous agen O and instrumentality of the City of Miami. MSEA was created to promto sports, conventions and exhibitions and to strive to generate community support to 16hieve this purpose. It was further given the authority to exercise any power usually ossessed by private corporations performing similar functions that are not in cod iot with the Florida constitution or law. In the past seven years MSEA has successfully auctio;f d off the Miami Arena and other associated properties, reaping over $36,004,000 froyf the sales as well as returning those properties to the tax rolls. MSEA continues to sWe the cormunity as the landlord of the Children's Museum and the Chalk's seaplane (Oration on Watson Island. MSEA also has primary responsibility in the Watson Island heliport negotiations, The attached budget will enable MSEA to/fulfill its mandate, The budget was unanimously approved by the MSEA boafd at its July 20, 2011 meeting, and I would respectfully request that you do the sat ate. Thank you in advance for your ass ante. Respectfully, i Kirk R. Menendez /! Executive Director , J Enc. Cc: file MIAMI SPORTS AND EXHIBITION AUTHORITY Proposed Budget FISCAL YEAR 2011-2012 DESCRIPTION Proposed 2012 Budget 12EVENI.IES MSEA Reserve Funds Interest Income 107,000 TOTAL REVENUE • $ 107,000 1, 1'nyro11,'Mixes and Benefits COMPENSATION AND BENEFITS 1 Executive Director 2 Project Manager Marketing Manager. Executive Assistant 3 Bookkeeper - /- 4 Group Insurance 5 SS/Medicare Contribution 6 Retirement Plan / - - f Total PnyrnII, Taxes siod Rcnelits II Operating Expenses r 'Annual'1Viana 00.0 b.Fee, h;, aT.1. ;=;f•'•r. :iAnnuaaclllly,,.(ee a :.:, ...,..1, ';A. <. r.I :r:,'.9! ,,..: •.4);r•>: 5o;a.00I 6e0• 7 Business Meeting Expenses Business Travel Car Allowance/Cellphone, Mileage Conference Registration 8 Contingencies 9 ' Courier/Dellvery Event Sponsorship 10 General Insurance & Directors Liability Ins ranee Memberships/Subscriptions !/ Miscellaneous Warehouse Expenses 11 Office Equipment/Maintenance 12 Office Supplies / 13 Postage .. . .; Printing / Promotions/Marketing 14 Telephone f/ Major Guide Event ' 1,500 - - - 1,000 1,000 - 20,000 - - 1,20o 1,000 1,200 - 1,500 TOTAL OPERATING EXPENS V' e2,000 III. PROFESSIONAL SER\'t S 15 Audit / 16 Legal Support MSEJ - WASTON ISLAND - City Attorney 17 Professional Servip�es/ Temp 18 Professional Sery(ces/proiecls 15,000 - 10,000 TOTAL PROFESSIONAL SERVICES 25,000 TO'I'AL.OPERATIN! EXPENSES 107,000 W. CAPITAL EXPENDITURES 19 OFFICE E¢UIPMENT PURCHASES 9 20 Furniture f, Fixtures i 21 Melreese,Golf Clubhouse - - TOTAL CAPITAL EXPENDITURES - TOTAL OPEttAT'ING BUDGET W/ CAPITAL EXPENDITURES 11 $ 107,000 Excess(shortage) of Revenue over Expenses - Miami Sports and Exhibition Authority Operating Budget Notes to Proposed Budget for 2011/2012 General Revenue MSEA Reserve Funds: proposed $107,000. This figure represents revenue fr•411 the MSEA Reserve Funds, General Expenses I, Payroll, Taxes and Benefits Executive Director: proposed $00. The Executive Direct •• provides overall management for the Miami Sports and Exhibition Authority. Project Manager: proposed $00. The Project Mai ger is responsible for MSEA's finance, bookkeeping and accounting functions and assrst'the Executive Director with the management of Miami Sports and Exhibition Authority, • Bookkeeper: proposed $00. The Bookke ler reports•to the Project Manager and is responsible for daily maintenance of MSEA's financial records. SS/Medicare Contribution: proposed $00. These funds will be used for Social Security and Medicare benefit costs of administrative employees. Retirement Plan: proposed $00, These finds will be used for the retirement plan of the administrative employees. If, Operating Expenses Annual Management Fee: proposed $50,000. These funds will be used to pay a inanagemer t fee for the scope of services. Annual Facility Fee: proposed $3,600. These funds will be used to pay a facility fee 'hick shall include costs for office space, electricity, water, and administrative infrastruc ure. Business Meeting Expenses: proposecl $1,500, These funds will be used for e/penses associated with the quarterly Board Meetings of Miami Sports and Exhibition Authors Contingencies: proposed $1,000. These funds will be used for any unf]reseen expenses incurred during the year. Courier / Deliver-': proposed $1,000, These funds will be used for courier services. General Insurance & Directors Liability Insurance: proposed $20,000, These funds will be used to purchase General Insurance & Directors Liability 'nsurance for Miami Sports and Exhibition Authority. Office Equipment / Maintenance: proposed $1, A0, These funds will be used for office equipment rental; lease and maintenance contr , ts. Office Supplies: proposecl $1,000. These f nds will be used to purchase office supplies. Postage: proposed $1,200. These fund vill be used to purchase postage. Telephone: proposed $1 500. These fiends will be used for telephone services. I proposed / .l III. Professional Services Audit: proposed $15,000. Th. e funds will be used to pay for the annual audit of MSEA's finances. Professional Services / projects; proposecl $10,000. These funds will be used to pay for professional services, storage, bank fees .anciprojects for MSEA.