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HomeMy WebLinkAboutExhibit 1Miami Parking Authority (Department- of Off -Street Parking) Proposed Operating Budget Fiscal Year 2011-12 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors July 19, 20.11) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2012 Operating Budget Operating Revenue Off -Street Facilities Parking Lots On -Street Management Fees Other Total Operating Revenue Operating Expenses Salaries, Wages & Fringe Benefits Repairs, Maintenance, Cleaning & Landscape Security Utilities Insurance Rental - Building/Land Assessment Expenses Revenue Sharing Parking Meter Parts & Installation Professional - Audit Professional - Legal Services Professional - Other Professional - Pay and Display Fees Bank Charges Supplies & Miscellaneous Other Expenses Advertising & Promotion Total Operating Expenses Operating Results BeforeDepr & Amort Depreciation & Amortization Operating Results Non -Operating Revenues (Expenses): Interest Income Lower of Cost of Market - Investments Gain (Loss) on Disposal Property Interest Expenses Total Non -Operating Net Revenue In Excess of Expenses FY 2010 FY 2011 FY 2012 Requested Budget 2012 Requested Budget 2012 Actual Approved Proposed vs. vs. Budget Budget FY 2010 Actual Budget 2011 FY 2010 ActualBudget 2011 $ $ Increase/(Decrease) Increase/(Decrease) 2,850,106 3,672,074 3,830,165 980,059 158,091 34.39 4.31 7,598,482 7,876,833 7,621,605 23,123 (255,228) 0.30 (3.24) 12,085,091 13,890,316 13,086,700 1,001,609 (803,616) 8.29 (5.79) 1,159,802 390,796 301,996 (857,806) (88,800) (73.96) (22.72) 223,008 200,000 200,000 (23,008) (10.32) 23,916,489 26,030,019 25,040,466 1,123,977 (989,553) 4.70 (3.80) 7,384,903 6,470,962 5,872,264 (1,512,639) (598,698) (20.48) (9.25). 987,068 859,450 1,199,149 212,081 339,699 21.49 39.53 1,224,329 831,873 824,761 (399,568) (7,112) (32.64) (0.85) 545,378 721,950 502,630 (42,748) (219,320) (7.84) (30.38) 559,637 762,574 561,010 1,373 (201,564) 0.25 (26.43) 688,382 729,976 639,983 (48,399) (89,993) (7.03) (12.33) 264,01.9 452,796 188,777 452,796 71.50 #D1V/0! 1,272,218 1,269,577 1,381,593 109,375 112,016 8.60 8.82 82,516 115,200 203,300 120,784 88,100 146.38 76.48 138,000 150,000 150,000 12,000 8.70 133,471. 122,000 119,500 (13,971) (2,500) (10.47) (2.05) 384,037 263,000 275,000 (109,037) 12,000 (28.39) 4.56 309,190 270,000 546,100 236,910 276,100 76.62 102.26 694,235 760,000 740,000 45,765 (20,000) 6.59 (2.63) 178,063 203,450 162,300 (15,763) (41,150) (8.85) (20.23) 511,497 211,645 250,263 (261,234) 38,618 (51.07) 18.25 210,128 221,500 207,000 (3,128) (14,500) (1.49) (6.55) 15,567,071 13,963,157 14,087,649 (1,479,422) 124,492 (9.50) 0.89 8,349,418 12,066,862 10,952,817 2,603,399 (1,114,045) 31.18 (9.23) (3,429,841) (3,297,505) (3,544,335) (114,494) (246,830) 3.34 7.49 4,919,577 8,769,357 7,408,482 2,488,905 (1,360,875) 50.59 (15.52) 101,451 75,000 20,000 ' (81,451) (55,000) (80.29) (73.33) 12,369 - (12,369) (100.00) 251,536 (251,536) - (9,067,990) (3,631,562) (3,654,144) 5,413,846 (22,582) (59.70) 0.62 (8,702,634) (3,556,562) (3,634,144) 5,068,490 (77,582) (58.24) 2.18 (3,783,057) 5,212,795 3,774,338 7,557,395 (1,438,457) (199.77) (27.59) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2012 Operating Budget FY 2010 FY 2011 FY 2012 Requested Budget 2012 Requested Budget 2012 Approved Proposed vs. vs. Actual Budget Budget FY 2010 Actual Budget 2011 FY 2010 Actual Budget 2011 $ $ $ Increase/(Decrease) Increase/(Decrease) Operating Revenue Off -Street Facilities 2,850,106 3,672,074 3,830,165 980,059 158,091 34.39 4.31 Parking Lots 7,598,482 7,876,833 7,621,605 23,123 (255,228) 0.30 (3.24) On -Street 12,085,091 13,890,316 13,086,700 1,001,609 (803,616) 8.29 (5.79) Management Fees 1,159,802 390,796 301,996 (857,806) (88,800) (73.96) (22.72) Other 223,008 200,000 200,000 (23,008) (10.32) Total Operating Revenue 23,916,489 26,030,019 25,040,466 1,123,977 (989,553) 4.70 (3.80) Operating Expenses Salaries, Wages & Fringe Benefits Salaries -Regular 5,156,590 4,595,702 4,250,509 (906,081) (345,193) (17.57) (7.51) Salaries- Overtime 269,784 126,674 158,274 (111,510) 31,600 (41.33) 24.95 Salaries - Sick & Vacation 328,313 340,117 269,567 (58,746) (70,550) (17.89) (20.74) Social Security 353,027 340,402 318,706 (34,321) (21,696) (9.72) (6.37) Health Insurance 538,142 402,256 393,714 (144,428) (8,542) (26.84) (2.12) Retirement 516,159 513,985 377,814 (138,345) (136,171) (26.80) (26.49) Benefits - (Auto, LTD, STD) 199,359 130,826 103,680 (95,679) (27,146) (47.99) (20.75) Tuition 12,176 16,000 (12,176) (16,000) (100.00) (100.00) Miscellaneous Pay 11,352 5,000 (11,352) (5,000) (100.00) (100.00) 7,384,902 6,470,962 5,872,264 (1,512,638) (598,698) (20.48) (9.25) Repairs, Maintenance. Cleaning & Landscape Maintenance - Property 195,907 152,300 130,830 (65,077) (21,470) (33.22) (14.10) Maintenance - Landscaping 62,591 36,500 121,014 58,423 84,514 93.34 231.55 Maintenance - Elevators 83,770 109,400 84,000 230 (25,400) 0.27 (23.22) Maintenance - A/C 7,098 10,000 9,500 2,402 (500) 33.84 (5.00) Maintenance - Computers 55,200 65,500 66,370 11,170 870 20.24 1.33 Maintenance - Garage Equipment 46,234 28,000 108,900 62,666 80,900 135.54 288.93 Maintenance - Alarms 6,939 14,200 13,700 6,761 (500) 97.43 (3.52) Maintenance - TV Surveillance - 5,000 3,000 3,000 (2,000) (40.00) Repairs - Equipment 14,356 12,900 26,100 11,744 13,200 81.81 102.33 Motor Pool 207,874 229,900 231,494 23,620 1,594 11.36 0.69 Cleaning & Housekeeping Supplies 27,209 26,650 250,594 223,385 223,944 821.00 840.32 Expendable Tools 3,255 2,750 2,500 (755) (250) (23.20) (9.09) Clothing 23,535 24,400 27,722 4,187 3,322 17.79 13.61 Signs 139,923 69,450 69,200 (70,723) (250) (50.54) (0.36) Small Equipment 55,153 35,500 48,500 (6,653) 13,000 (12.06) 36.62 Maintenance - Other 23,089 7,000 5,725 (17,364) (1,275) (75.20) (18.21) Cleaning 34,934 30,000 (34,934) (30,000) (100.00) (100.00) 987,067 859,450 1,199,149 212,082 339,699 21.49 39.53 Security Security 1,198,605 808,073 800,961 (397,644) (7,112) (33.18) (0.88) Armored Car Services 25,724 23,800 23,800 (1,924) _ (7.48) 1,224,329 831,873 824,761 (399,568) (7,112) (32.64) (0.85) Utilities Telephone 196,376 . 158,200 237,780 41,404 79,580 21.08 50.30 Light & Power 306,615 486,900 246,300 (60,315) (240,600) (19.67) (49.41) Water 42,387 76,850 18,550 (23,837) (58,300) (56.24) (75.86) 545,378 721,950 502,630 (42,748) (219,320) (7.84) (30.38) Insurance Property & Gen Liability Insurance Workers Compensation Insurance Rental - Building/Land Rental - Building/Land Assessment Expenses 542,361 662,568 494,630 (47,731) (167,938) (8.80) (25.35) 17,275 100,006 66,380 49,105 (33,626) 284.25 (33.62) 559,636 762,574 561,010 1,374 (201,564) 0.25 (26.43) 688,382 729,976 639,983 (48,399) (89,993) (7.03) (12.33) Assessment Expenses 264,019 452,796 188,777 452,796 71.50 Revenue Sharing Revenue Sharing 1,272,218 1,269,577 1,381,593 109,375 112,016 8.60 8.82 MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2012 Operating Budget Parking Meter Parts & Installation Equipment Rental Parking Meter Parts & Installation Professional - Audit FY 2010 FY 2011 FY 2012 Requested Budget 2012 Requested Budget 2012 Approved Proposed vs. vs. Actual Budget Budget FY 2010 Actual Budget 2011 FY 2010 Actual Budget 2011 $ $ $ Increase/(Decrease) Increase/(Decrease) 25,241 35,200 32,300 7,059 (2,900) 27.97 " (8.24) 57,276 80,000 171,000 113,724 91,000 198.55 113.75 82,517 115,200 . 203,300 120,783 88,100 146.37 76.48 Professional- Audit 138,000 150,000 150,000 12,000 8.70 Professional - Legal Services Professional - Legal Services 133,471 122,000 119,500 (13,971) (2,500) (10.47) (2.05) Professional - Other Property Surveys, Platting 2,750 Trustee Fees (4,096) Other Consultants 385,383 5,000 5,000 2,250 81.82 - 20,000 24,096 20,000 (588.28) - 258,000 250,000 (135,383) (8,000) (35.13) (3.10) 384,037 263,000 275,000 (109,037) 12,000 (28.39) 4.56 Professional - Pay and Displav Fees Professional - Pay and Display Fees 309,190 270,000 546,100 236,910 276,100 76.62 102.26 Bank Charges Bank Charges 694,235 760,000 740,000 45,765 (20,000) 6.59 (2.63) Supplies & Miscellaneous Postage & Courier Services 20,619 26,650 18,650 (1,969) (8,000) (9.55) - (30.02) Printing 101,549 96,850 75,850 (25,699) (21,000) (25.31) (21.68) Office Supplies 38,010 37,200 29,200 (8,810) (8,000) (23.18) (21.51) Office Equipment 6,648 7,000 7,600 952 600 14.32 8.57 Computer Supplies 5,301 14,000 7,500 2,199 (6,500) 41.48 (46.43) Computer Software 5,935 21,750 23,500 17,565 1,750 295.96 8.05 178,062 203,450 162,300 (15,762) (41,150) (8.85) (20.23) Other Expenses Property Taxes 67,074 38,000 78,000 10,926 40,000 16.29 105.26 Licenses & Permits 8,922 2,050 1,620 (7,302) (430) (81.84) (20.98) Miscellaneous 22,253 11,300 8,898 13,355 2,402 ( ) ( ) (60.01) (21.26) Travel 8,812 11,000 12,000 3,188 1,000 36.18 9.09 Training 2,777 36,400 36,600 33,823 200 1,217.97 0.55 Meetings and Conventions 186,557 87,850 88,450 (98,107) 600 (52.59) 0.68 Cashier-'Overage/(Shortage) 3,595 - (3,595) (100.00) Publications 692 1,625 1,625 933 134.83 - Membership Dues 18,316 23,420 23,070 4,754 (350) 25.96 (1.49) Claims Settlement - - - - Bad Debt Expense 192,361 (192,361) (100.00) - Penalties & Interest 140 (140) (100.00) 511,499 211,645 250,263 (261,236) 38,618 (51.07) 18.25 Advertising & Promotion Promotional 8,326 10,000 5,000 (3,326) (5,000) (39.95) (50.00) Public Relations 119,166 131,500 120,000 834 (11,500) 0.70 (8.75) Advertising 82,636 80,000 82,000 636 ( ) 2,000 (0.77) 2.50 210,128 221,500 207,000 (3,128) (14,500) (1.49) (6.55) Total Operating Expenses 15,567,070 13,963,157 14,087,649 (1,479,421) 124,492 (9.50) 0.89 Operating Results Before Depr & Amor 8,349,419 12,066,862 10,952,817 2,603,398 (1,114,045) 31.18 (9.23) Depreciation & Amortization (3,429,841) (3,297,505) (3,544,335) (114,494 (246,830) 3.34 7.49 Operating Results 4,919,578 8,769,357 7,408,482 2,488,904 (1,360,875) 50.59 (15.52) Non -Operating Revenues (Expenses): Interest Income 101,451 75,000 20,000 (81,451) (55,000) (80.29) Lower of Cost of Market - Investments 12,369 (12,369) (100.00) Gain (Loss) on Disposal Property 251,536 - (251,536) (100.00) Interest Expenses (9.067,990) (3,631,562) (3,654,144) 5,413.846 (22,582) (59.70) Total Non -Operating (8,702,634) (3,556,562) (3,634,144) 5,068,490 (77,582) (58.24) (73.33) 0.62 2.18 Net Revenue In Excess of Expenses (3,783,056) 5,212,795 3,774,338 7,557,394 (1,438,457) (199.77) (27.59) MIAMI PARKING AUTHORITY Schedule of Revenues and Expenses Proposed FY 2012 Operating Budget — Line Item Descriptions Description of Line Items: Operating Revenue Off -Street Facilities - Revenue collected at parking garages, including daily customer revenue, monthly cardholder revenue and revenue derived from special events Parking Lots — Revenue collected at parking lots, including daily customer revenue, monthly decal -holder revenue and revenue derived from special events / rental of lots On -Street — Revenue collected from single space and Pay and Display meters located on -street as well as revenue derived from rental of metered spaces (production events, valet, etc) Management Fees — Fees charged to third parties (i.e. Miami -Dade County, Florida FDOT and City of Miami) for the administration of various parking / non -parking facilities Other — Majority of line item represents fees remitted by towing companies that assist in towing illegally parked vehicles from parking facilities / on -street spaces Operating Expenses Salaries, Wanes & Frin,ge Benefits Salaries — Regular - Base salaries for all full time / part-time Authority personnel Salaries — Overtime — Overtime funds paid to hourly personnel Salaries — Sick & Vacation — Sick and vacation time for full-time Authority personnel Social Securitv — Social security taxes paid to the federal government for Authority personnel Health Insurance — Insurance premiums paid by MPA for full-time Authority personnel Retirement — Employer portion of annual pension obligation paid to the MPA's pension.plan for full-time Authority personnel J Other Benefits — Insurance premiums paid by MPA on behalf of full-time administrative and operations personnel for auto, short-teini disability and long tenn disability Page 1 of 5 Tuition — MPA provides educational assistance for regular full-time employees who have completed 365 calendar days of service in an eligible employment classification. The amount of assistance paid by the Agency is 100% of tuition costs up to a maximum of $3,000 in a calendar year providing the employee earns grade of "C" or better Miscellaneous Pay — Payment for the use of temporary labor for special events and special employee assignments Repairs. Maintenance, Cieanin' & Landscape Maintenance — Property — Contractual expenses incurred in connection with the maintenance of parking facility structural components, excluding items detailed below Maintenance — Landscaping — Contractual expenses incurred in connection with the maintenance of parking facility landscaping Maintenance — Elevators — Contractual expenses incurred in connection with the maintenance of parking facility elevators Maintenance — A/C — Contractual expenses incurred in connection with the maintenance of parking facility, operations and administrative office air conditioning units Maintenance — Computers — Contractual expenses incurred in connection with the maintenance of parking facility / administrative office computer equipment Maintenance — Garage Equipment — Contractual expenses incurred in connection with the maintenance of parking facility revenue control equipment Maintenance — Alarms — Contractual expenses incurred. in connection with the maintenance of parking facility revenue alarm / security systems Maintenance — TV Surveillance — Contractual expenses incurred in connection with . the maintenance of TV surveillance cameras located in garage facilities Repairs — Equipment — Non -contractual repairs associated with parking facilities Motor Pool — Expenditures associated with Agency vehicles including gas, repairs and lease payments for leased Agency vehicles y Cleaning / Cleaning & Housekeeping Supplies — Contractual expenses and cleaning supplies purchases for the maintenance of parking, facilities / administrative offices Expendable Tools / Small Equipment - Maintenance tools and maintenance / office equipment purchases that do not exceed $1.000 and therefore are not considered a capital asset Page 2 of 5 Clothing — Unifonns for operations personnel Signs — Maintenance and purchase of signage for both off-street and on -street parking facilities Maintenance — Other — Annual contractual maintenance fee incurred for Authority telephone system Security Security — Contractual expenses incurred for security personnel who perform surveillance of parking facilities Armored Car Services — Brinks services for the pickup of cash at specified locations Utilities Telephone — Expenses paid to telephone carriers for the usage of telephone lines and cellular phone lines (i.e. AT&T, Sprint) Light & Power — Electricity expense for all parking facilities / administrative offices (FPL) Water — Water expense for all parking facilities / administrative offices (Miami -Dade Water and Sewer) Insurance Property and General Liability Insurance — Insurance premiums related to property, general liability, and directors and officers liability coverage Workers Compensation Insurance — Workers compensation premiums for Authority personnel Rental — Building /Land Rental Building/Land — Fixed, contractual lease payments paid for the rental of parking lots managed and not owned by the Authority Assessment Expenses Assessment Expenses — The expenses for the Courthouse Center Garage condos that are accumulated and paid to the condo association. The items in this category include but are not limited to: repairs and maintenance, utilities, office supplies, management fees, property insurance and security Page 3 of 5 :Revenue Sharing Revenue Sharing — Payments made to lessors of parking lots that are managed by the Authority. These payments are based on a' % of either gross or net revenue derived by the parking lot Parking Meter Parts & Installation Equipment Rental — Rental of golf carts for security personnel to roam facilities, rental of office copiers Parking Meter Parts & Installation — Purchases of parking meter supplies / parts to replace defective parking meter equipment Legal and Professional Property Surveys. Platting — Expenditures incurred related to property surveys and platting of prospective parking facility acquisitions Legal Services — Legal fees paid to City of Miami for City Attorney services Trustee Fees - Fees paid to Trustee of Authority bonds Audit Fees — Fees paid in connection with the annual audit of the Authority's financial records Pav and Display Fees — Service contract fees paid to parking meter vendors, parking consultants, payroll processing fees, website redesign fees, rating agency fees in connection with the Authority's bonds Bank Charges Bank Charges — Bank fees and credit card processing charges associated with the Authority's parking facilities Supplies and Miscellaneous Postage & Courier Services — Postage expense for Authority's mailings Printing — Printing of tickets and decals for parking facilities and customer service pamphlets Office Supplies — Desk supplies (i.e. paper) for all Authority facilities / administrative offices Office Equipment — Office equipment purchases that do not meet threshold for capitalization Page 4 of 5 Computer Supplies — Computer supply purchases for all Authority facilities / administrative offices Computer Software — Computer software purchases for all Authority facilities / administrative offices Other Expenses Licenses & Permits - Miscellaneous licenses and fees Miscellaneous — Payment for medical exams and back ground check for employees (new hire and worker comp cases) and mystery shopper program Travel - Business travel expenses incurred for parking related conferences Training, -Training expenses for all employees Meetings and Conventions - Business meeting expenses for all employees Publications — Miscellaneous business publication subscriptions Membership dues . Membership dues for various parking related organizations and professional associations AdvertisitiQ & Promotion Promotional — Promotional materials distributed to customers at special events / customer appreciation week Public Relations — Contractual expenditures related to public relations consultant services and sponsorships of various charities and non-profit organizations Advertising_ — Media advertising expenses (i.e. radio, television, and printed media) Non -Operating- Revenues / (Expenses) Depreciation & Amortization — Depreciation related to parking facilities_, including building and structures, IeasehoId improvements, furniture and fixtures, and parking equipment Interest Income — Interest and gain/losses on Authority investments Interest Expenses - Interest expenses and amortization of bond issuance costs incurred in connection with the Authority's bond issue. Page-5 of