HomeMy WebLinkAboutSubmittal - BID Budget ReportCoconut Grove Business Improvement District FY13 Budget - FY12 Budget - FY12 Amended Budget & FY12 Actuals
INCOME:
Parking Waivers
Parking Surcharge
Special Events Supplemental Fees
Sidewalk Cafe fees
Banner Fees
Investment Income
BID Assessments
Hotel Committee Income
Other Income
Deferred Collections - New FY'13
Total Income:
EXPENSES;
Sanitation
Security
Streetscape
Marketing
Special Events & BID Events
Marketing & Advertising
General & Administrative
Hotel Committee - As of July 2011
Total Expenses
A
Approved FY'13
Budget
Approved FY112,
223,756 $
250,000 $
34,000 $
43,194 $
3,000 $
$
443,290 $
50,000
1,047,240
Amended FY'12
Budget
144,000 $
220,000 $
34,000 $
55,000 $
3,000 $
96,000 $
457,000 $
120,000 $
62,500 $
1,191,500
$ 116,000 $
188,500 $
106,720 $
106,000 $
165,200 $
Actuate from 1011111 to
144,000 $
8/3012012
Rate of Parking Waiver projection for FY'13 is increased because of expected corrections to parking waiver
194,343 collection, as per CCSG project with City of Miami. Budgeted Parking Waiver Fees are reflected net of 10%
contribution to the parking waiver trust fund as required by City Ordinance 13059.
220,000 $ 205,816 Projection by "CCSG" entity which administers Parking Surcharge Tax Program
34,000 $ 25,178
55,000 $ 49,191
3,000 $ 2,500 Projected at same level as FY'11, FY'12, FY.13
96,000 $ 88,685 Projected al lower level than FY'11 to reflect reduced investment account
457,000 $ 556,951
120,000 $
62,500 $
1,191,500
5,306
1,127,970
FY'12 assessments due 487K. FY'11 assessment payment rate projected for FY'12 (95.5% at $465K. Early
payment discount projected at $8,000.
Hotel project put as an expense for FY'13
$12,500 stale historic grant & matching funds were anticipated for this line item prior to FY'12 budget submission for
approval
These are outstanding assessment collections from previous years
CommentsfVerlance
117,$
117035 ,035 $ 93,634
188,035 $, 238,035 $ 158,302 Resolution 41 $50,000 off -duty perm was approved; however BID used $10K for holiday season
118,442 $ 121,442 $ 80,766 Resolution #3 - $3,000 Holiday Decorations for District funds were applied to tide line item
123,300 $ 123,300 $
266,165 $ 266,165 $
342,500 $ 326,200 $ 387,200 $
42,000 $
1,066,920
168,000 $ 48,000 $
$ 1,307,177
1,301,177
12---ovi109 - fiat 1. -F3kAckei-
113,825
219,990
Resolution #2 - $4,800 annual financial statement preprafion Resolution #5- $4,200 Expansion of Assessment Proposal
,905 Re# Option #6 - $18,000 parking waiver & basefine work with Cky of Miarrti anti CCM Resolution # 7 Transition posts for Exec
Ditector $34,000, Please note, transition costs wete estimated in July 2012.
1,015,422
Resolution #4 - Originally 7 lipids ware going to participate for a total of $84,000, each hotel putting. in $12,000 each. 0n1y (2)
310 hotels participated at a total oost of $24,000 BiD matched $24,000 for each as weft totang $48,000 GMCVB then matched
S48,000 We have not been invoiced as of 9/13112 by GNICVD awaiting $48K invoice, thus riot reflected in actuals
Submitted into the public
record in connection with
items RE.20 on 09-13-12
Priscilla A. Thompson
City Clerk
Net Operating Income
Capital Projects
(19,680) $
100,000 $
(115,677) $ (109,677)
229,500 $
204,500 $
Cash Contribution from BID
reserves Fund for Capital Projects
(100,000)
(229,500)
(204,500)
Actuals are only until August
2012
Total Contribution BID Fund (Income
Shortfall + Capital Requirements)
19,680
345,177
314,177
ResoludonAt - $75,000 Large giant.CDBG proe, rtot started In FY12; is sonedelee to begin in FYla. Due to law grant
not stoning in Frt 2 $50k of the $751< was trarmfertvi to Urban Planning Project 113P7.)
Submitted into the public
record in connection with
items RE.20 on 09-13-12
Priscilla A. Thompson
City Clerk