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HomeMy WebLinkAboutExhibit AMiami Parking Authority (Department of Off -Street Parking) Proposed Operating Budget Fiscal Year 2024-25 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors July 10, 2024) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2025 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/Fleet Assessment Expenses Revenue Sharing Parking Meter Parts & Installation Legal and Professional Bank Charges Supplies & Miscellaneous Other Expenses Advertising & Promotion Total Operating Expenses Operating Results Before Depr & Amon` Depreciation & Amortization Operating Results Non -Operating Revenues (Expenses): Interest Income Lower of Cost of Market - Investments Gain (Loss) on Disposal Property Interest Expenses Other Losses Excess Revenue Distribution to City Budgeted Reserves Total Von -Operating Net Revenue In Excess of Expenses FY 2023 FY 2024 FY 2025 Approved Proposed Actual Budget Budget $ $ $ 5,766,027 10,960,621 38,548,400 1,801,476 1,1 12,649 3,372,889 10,207,741 38,719,109 1,686,924 1,000,000 Requested Budget 2025 vs. FY 2023 Actual Budget 2024 Increase/(Decrease) 6,575,110 809,083 11,354,342 393,721 40,737,657 2,189,257 1,873,955 72,479 1,200,000 87,351 58,189,173 54,986,663 3,202,221 1,146,601 2,018,548 187,031 200,000 61,741,064 3,551,891 10,479,737 2,635,456 1,546,846 676,212 1,086,732 47,544 629,746 2,698,000 151,006 1,207,280 2,953,019 751,746 419,629 770,282 11,558,536 2,220,985 1,356,750 668,380 1,582,085 407,084 973,704 2,865,577 106,500 1,091,630 2,839,876 511,250 260,800 783,500 6,754,401 12,236,593 1,756,856 2,351.980 (283,476) 1,815,524 268,678 678,620 2,408 1,334,346 247,614 495,527 447,983 967,695 337,949 2,730,816 32,816 101,000 (50,006) 1,200,950 (6,330) 3,132,726 179,707 518,210 (233,536) 308,200 (111,429) 785,500 15,218 678,057 130,995 458,774 10,240 (247,739) 88,443 (6,009) (134,761) (5,500) 109,320 292,850 6,960 47,400 2,000 26,053,235 27,226,657 28,657,687 2,604,452 32,135,938 (3,921,576) 27,760,006 (3,900,000) 1,431,030 33,083,377 947,439 (3,900,000) 21,576 28,214,362 23,860,006 5,323,371 29,183,377 969,015 552,256 215,017 (6,376,476) (1,558,267) (15,000,000) (1,437,305) 5,323,371 160,000 160,000 (392,256) (215,017) 6,376,476 (1,338,810) 219,457 15,000,000 (22,167,470) 6,046,892 (1,277,305) 22,582,701 98,495 (1,178,810) 20,988,660 98,495 28,004,567 21,957,675 5,421,866 Requested Budget 2025 vs. FY 2023 Actual Budget 2024 Increase/(Decrease) 14.03 94.94 3.59 11.23 5.68 5.21 4.02 11.09 7.85 20.00 6.10 12.28 16.76 (10.76) 17.37 0.36 22.79 942.25 53.66 1.22 (33.12) (0.52) 6.09 (31.07) (26.55) 1.98 10.00 5.87 5.90 33.81 1.53 (15.66) 21.73 (0.62) (4.70) (5.16) 10.01 10.31 1.36 18.17 0.26 5.26 2.95 19.18 (0.55) 3.43 22.31 (71.03) (100.00) (14.08) #DIV/0I (100.00) (6.85) (94.68) (7.71) 363.12 24.01 d11AAMI PARKING AUTHORTTF' Schedule of Revenue and. Expenses Proposed FY 2025 Operating Budget Operating Revenue Off -Street Facilities Parking Lots On -Street Management Fees Other Total Operating Revenue FY 2023 FY 2024 FY 2025 Requested Budget 2025 Requested Budget 2025 Approved Proposed vs. vs. Actual Budget Budget FY 2023 Actual Budget 202,1 FY 2023 Actual Budget 2024 $ $ $ Increase/(Decrease) Irrerease/(Decrease) 5,766,027 3,372,889 6,575,110 809,083 3,202,221 14,03 94,94 10,960,621 10,207,741 11,354,342 393,721 1,146,601 3.59 11.23 38,548,400 38,719,109 40,737,657 2,189,257 2,018,548 5.68 5.21 1,801,476 1,686,924 1,873,955 72,479 187,031 4.02 11.09 1,112,649 1,000,000 1,200,000 87,351 200,000 7.85 20.00 58,189,173 54,986,663 61,741,064 3,551,891 6,754,401 6.10 12.28 Operating Expenses Salaries, Wages & Fringe Benefits Salaries - Regular 7,313,635 8,730,699 9,518,319 2,204,68,1 787,620 30.14 Salaries - Overtime 224,156 (224,156) (100.00) Salaries - Sick & Vacation 478,358 508,920 560,142 81,784 51,222 17.10 Social Security 499,052 596,768 653,733 154,681 56,965 30.99 Health Insurance 198,9,16 890,138 764,232 565,286 (125,906) 284.14 Retirement 1,602,318 636,265 524,721 (1,077,597) (111,544) (67.25) Benefits - (Auto, LTD, STD) 147,512 195,7,16 215,446 67,934 19,700 46.05 Tuition 10,760 (10,760) (100.00) Miscellaneous Pay 5,000 (5,000) (100.00) 9.02 10.06 9,55 (14.14) (17.53) 10.06 10,479,737 11,558,536 12,236,593 1,756,856 678,057 16.76 5.87 Repairs, Maintenance, Cleaning & Landscape Maintenance -Property 322,612 526,750 508,000 185,388 (18,750) 57.46 Maintenance -Landscaping 432,142 73,178 164,558 (267,584) 91,380 (61.92) Maintenance -Elevators 58,426 50,500 63,000 4,574 12,500 7.83 Maintenance - A/C 108,379 56,500 52,800 (55,579) (3,700) (51.28) Maintenance - Computers 86,104 92,000 84,000 (2,104) (8,000) (2.44) Maintenance - Garage Equipment 223,261 178,000 223,672 411 45,672 0.18 Maintenance -Alarms 13,138 14,800 10,250 (2,888) (4,550) (21.98) Maintenance- TV Surveillance 313,262 325,000 307,000 (6,262) (18,000) (2.00) Repairs - Equipment 183,607 55,500 53,300 (130,307) (2,200) (70.97) Motor Pool 325,714 299,000 403,000 77,286 104,000 23.73 Cleaning & Housekeeping Supplies 131,210 38,607 56,300 (74,910) 17,693 (57.09) Expendable Tools Clothing 71,394 78,900 59,000 (12,394) (19,900) (17.36) Signs 205,527 236,250 241,100 35,573 4,850 17.31 Small Equipment 156,448 191,000 121,000 (35,448) (70,000) (22.66) Maintenance - Other 4,232 5,000 5,000 768 18.15 Cleaning (3.56) 124.87 24.75 (6.55) (8.70) 25.66 (30.74) (5.54) (3.96) 34.78 45.83 (25.22) 2.05 (36.65) 2,635,456 2,220,985 2,351,980 (283,476) 130,995 (10.76) 5.90 Security Security 1,529,841 1,342,750 1,796,524 266,683 453,774 17.43 Armored Car Services 17,005 14,000 19,000 1,995 5,000 11.73 33.79 35.71 1,546,846 1,356,750 1,815,524 268,678 458,774 17.37 IJlililics 33.81 Telephone 276,769 275,400 273,400 (3,369) (2,000) (1.22) Light & Power 322,870 314,730 321,260 (1,610) 6,530 (0.50) Water 76,573 78,250 83,960 7,387 5,710 9.65 Insurance Property & Gen Liability Insurance Workers Compensation Insurance (0.73) 2.07 7.30 676,212 668,380 678,620 2,408 10,240 0.36 1 53 1,056,718 1,421,210 1,182,574 125,856 (238,636) 11.91 30,014 160,875 151,772 121,758 (9,103) 405.67 1,086,732 1,582,085 1,334,346 247,614 (247,739) 22.79 (16.79) (5.66) (15.66) Rental - Building/Lnnd Rental-Building/Land 48,005 48,004 48,004 (I) - (0.00) Rental - Fleet (461) 359,080 447,523 447,984 88,443 (97,176.57) 24.63 Assessment Expenses Assessment Expenses - Repairs & Maintenance Assessment Expenses - Utilities Assessment Expenses - Office Supplies Assessment Expenses - Management Fee Assessment Expenses - insurance Assessment Expenses - Security 47,544 407,084 495,527 447,983 88,443 942.25 21.73 235,936 321,384 342,612 106,676 21,228 45.21 6.61 17,360 13,632 26,837 9,477 13,205 54.59 96.87 3,205 3,048 4,621 1,416 1,573 44.18 51.61 53,270 50,640 66,872 13,602 16,232 25.53 32.05 186,023 200,004 371,109 185,086 171,105 99.50 85.55 133,952 384,996 155,644 21,692 (229,352) 16.19 (59.57) 629,746 973,704 967,695 337,949 (6,009) 53.66 (0.62) Revenue Sharing Revenue Sharing 2,698,000 2,865,577 2,730,816 32,816 (I34,761) 1.22 (4.70) 41L-411 PARKING, UTHORITY Schedule of Revenue and Expenses Proposed FY 2025 Operating Budget Parking Meter Parts & Installa Equipment Rental Parking Meter Parts & Installation Legal and Professional Audit Fees Legal Services Property Surveys, Platting Other Consultants Professional - Pay and Display Fees Bank Charges Bank Charges FY 2023 FY 2024 FY 2025 Requested Budget 2025 Requested Budget 2025 Approved Proposed vs. vs. Actual Budget Budget FY 2023 Actual Budget 2024 FY 2023 Actual Budget 2024 $ $ $ Increase/(Decrease) Increase/(Decrease) 16,828 134,178 151,006 21,000 85,500 106,500 21,000 80,000 101,000 135,912 117,624 4,750 881,644 67,350 168,400 142,630 10,000 719,000 51,600 176,820 142,630 10,000 746,000 125,500 1,207,280 1,091,630 1,200,950 4,172 (54,178) (50,006) (5,500) (5,500) 40,908 25,006 5,250 (.135,644) 58,150 8,420 27,000 73,900 24.79 (40.38) (33.12) (6.43) (5.16) 30.10 21.26 110.53 (15.39) 86.34 5.00 3.76 143.22 (6,330) 109,320 (0.52) 10.01 2,953,019 2,839,876 3,132,726 179,707 292,850 6.09 10.31 Supplies & Miscellaneous Postage & Courier Services 5,989 7,450 5,100 (889) (2,350) (14.84) (31.54) Printing 48,428 91,000 53,810 . 5,382 (37,190) 11.11 (40.87) Office Supplies 44,893 50,900 23,700 (21,193)(2 7,200) 2 ( ) (47._I) (53.44) Office Equipment 46,261 34,000 35,000 (11,261) 1,000 (24.34) 2.94 Computer Supplies 227,299 94,500 109,600 (117,699) 15,100 (51,78) 15.98 Computer Software 378,876 233,400 291,000 (87,876) 57,600 (23.19) 24.68 751,746 511,250 518,210 (233,536) 6,960 (31,07) 1.36 Other Expenses Property Taxes 42,463 50,500 50,000 7,537 (500) 17.75 (0.99) Licenses & Permits 154,433 40,950 91,950 (62,483) 51,000 (40.46) 124.54 Miscellaneous 43,399 16,800 18,000 (25,399) 1,200 (58.52) 7.14 Entertainment Travel 25,880 14,500 20,250 (5,630) 5,750 (21.75) 39.66 Training 17,836 41,700 10,500 (7,336) (31,200) (41.13) (74s2) Meetings and Conventions 104,270 71,850 104,000 (270) 32,150 (0.26) 44.75 Cashier- Overage/(Shortage) 941 - - (941) (100,00) - Parking Refunds - - - - - - - Uncollectible Accounts - - - - - - - Publications - - Membership Dues 26,100 24,500 13,500 (12,600) (11,000) (48.28) (44.90) Claims Settlement - - Bad Debt Expense 4,307 - - (4,307) - (100.00) - Penalties & Interest - - 419,629 260,800 308,200 (111,429) 47,400 (26.55) 18.1.7 Advertising & Promotion Promotional 8,330 67,500 67,500 59,170 - 710.32 Public Relations 726,949 674,000 674,000 (52,949) (7.28) Advertising 35,003 42,000 44,000 8,997 2,000 25.70 4.76 770,282 783,500 785,500 15,218 2,000 1.98 Total Operating Expenses 26,053,235 Operating Results Before Depr & Amor Depreciation & Amortization Operating Results 0.26 27,226,657 28,657,687 2,604,452 1,431,030 10.00 5.26 32,135,938 27,760,006 33,083,377 947,439 (3,921,576) (3,900,000) (3,900,000) 21,576 5,323,371. 28,214,362 23,860,006 29,183,377 969,015 5,323,371 2.95 (0.55) 3.43 19.18 22.31 Non -Operating Revenues (Expenses): Interest. Income 552,256 160,000 160,000 (392,256) - (71,03) - Lower of Cost of Market - Investments 215,017 - Gain (Loss) on Disposal Property (6,376,476) - 6,376,476 - (100.00) Interest Expenses (1,558,267) (1,437,305) (1,338,810) 219,457 98,495 (14.08) (6.65) Other Losses - - - - - Excess Revenue Distribution to City (15,000,000) - 1.5,000,000 - (100.00) Budgeted Reserves - Total Non -Operating (22,167,470) (1,277,305) (1,178,810) 21,203,677 98,495 (94.68) (7.71) Net Revenue ln Eveess of Expenses 6,046,892 22,582,701 28,004,567 22,172,692 5,421,866 363.12 24.01