HomeMy WebLinkAboutAdditional Back-upINCOME:
Parking Waivers
ev,t1;b;it i3
Coconuf Grove Business Improvement District FYI 3 Budget - FY'l 2 Budget - FY'12 Amended Budget & FY'12 Actuals
A
Approved FY'13
Budget
Approved Pr1Z
Budget
Amended P1'12.
Budget
223,756 $ 144,000 $
Actuate fro
813012012
144,000 $
Parking Surcharge $ 250,000 $ 220,000 $ 220,000 $ 205,816
Special Events Supplemental Fees $ 34,000 $ 34,000 $ 34,000 $ 25,178
Sidewalk Cafe fees $ 43,194 $ 55,000 $ 55,000 $ 49,191
Banner Fees $ 3,000 $ 3,000 $ 3,000 $ 2,500
Investment Income $ 96,000 $ 96,000 $ 88,685
BID Assessments 443,290 $ 457,000 $ 457,000 $ 556,951
Hotel Committee Income 120,000 $ 120,000 $
Other Income 62,500 $ 62,500 $
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
50,000
1,047,240
1,191,500
1,191,500
5,306
1,127,970
arlance
Rale of Parking Waiver projection for F`i''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.
Projection by 'CCSG'' entity which administers Parking Surcharge Tax Program
Projected at same level as FY'11, FY'12, FY'13
Item has been moved out of income because of the inability to calculate yearly and market performance
FY'12 assessments due 487K FY'l 1 assessment payment rate projected for FY'12 (95.5% at 5465K. Early
payment discount projected at t,000. -)
-- 4
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 forr,3
approval
These are outstanding assessment collections from previous years
116,000 $ 117,035 $ 117,035 $ 93,634
188,500 $ 188,035 $238,035 $ 158,302 Rsolutlon $50,000 off -duty poke was approvwi; however 510 USed on1y used $3,167 for holidaY Season
106,720 $ 118,442 $ 121,442 .$ 80 766 ' Resolution ttia - $3',000 Hoklay Deobratons for Dist feats were applied to this line item
106,000 $
165,200 $
123,300 $
266,165 $
123,300
266,165
342,500 $ 326,200 387,200
42,000 $ 168,000 $ 48,000 $
1,066,920
2.- 00 ckdi ma
1,307,177
1, 0 , 77
113,825
219,990
Resolution tt2- $4,800 annual financial statement preparation Resolution - $4,200 Expansion of Asses,meTrt Proposal
348,905 Resolution #6- $18.000 parting waiver 8 baseline work wnh City of Miami and CCSG, Resolution tf 7 Transiton COVIi iur Exec
Director 334.000, Please note, transition costs were estimated in July 2012.
1,015,422
Resolution - Originally 7 hotels were going to partipate taro total of 584,000, each hotel putting in $12,000 each, Only (2)
BID hotels participated at a total cost of $24.000. 810 rnateitied $24,000 for each as wall totaling $48,00C. GMCVB then matched
$48,000, We have not been invoiced as of 9/13112 by GMCuEi, awaitirig S.1 BK invoice, thus not reflected in ea.:els.
Submitted into the public
record in connection with
item BH. 5 on 09-27-12
Priscilla A. Thompson
City Clerk
Net Operating Income
Capital Projects
(19,680) $ (115,677) $ (109,677)
$ 100,000 $
229,500 $
204,500 $
Cash Contribution from BID
reserves Fund for Capital Projects
Total Contribution BID Fund (Income
Shortfall + Capital Requirements)
,000)
19,680
(229,500)
345,177
(204,500)
314,177
Ac-tbais are only until Augus,
2012
Resolution #8 -$75,000 Large grant CMG project weenot started in FY'12 s ateduled to begin in FY13.Due to large 9r0nt
not starting In FY'12 $50K of the $75K was transferred to Urban Planning Project (DPZ) ,
Submitted into the public
record in connection with
item BH. 5 on 09-27-12
Priscilla A. Thompson
City Clerk
CC3NUT GR VE
Business krpr,;•oement 'tWstrict
Submitted into the public
record in connection with
item BH. 5 on 09-27-12
Priscilla A. Thompson
City Clerk
Coconut Grove Business Improvement District Budget Resolutions FY'12 (8)
As of 7/2312012
1. $50,000 Police Off Duty Services Additional Officer Motion from November 22, 2011 BID
Board Meeting:
It was moved that the Coconut Grove BID adjust the current budget by adding $56,000 to the Security
Budget from the reserves to add one police officer weekly to be reviewed mid -year to make changes.
David Collins said that the officer could be added for December, January and February.
Motion to approve: Timo Kipp moved, H. H. Bredemeier seconded,
David Yoblick offered a modification that since two months has passed, that the amount be modified to
$50,000 from reserves. Timo accepted the modification,
Motion passed unanimously.
2. CCSG Preparation of Annual Financial Statements; September 16, 2011 Exec Committee
Meeting
The Executive Committee motioned that the Coconut Grove BID authorize an increase of duties for CCSG
in preparation of the annual financial statements that will be due for FY'11 — FY'12 on January 2, 2012.
Monthly fees will increase from $3,500 to $3,900.
The source of funds for the proposed increase will come out of the CCSG budget line item for FY'12.
An amendment will need to be submitted for the FY'12 BID budget for funds collected from "prior BID
assessments" will be used as the new source of income to supplement this line item in G&A.
A contingency line item, up to $20,000, in the annual budget for "bad" debt arriving, up to $20,000 is to be
used by the Executive Committee for items of contingency funding by monies coming in.
Motion Passed: 1st; Naomi Evans. 2nd; Lalo Durazo
Motion passed unanimously.
CZ)
---
c, 3
. $3,000 Holiday Decorations throughout Grove Motion from December 2, 2011 Executive
Committee Meeting
- - - - - - —
The Executive Committee moved to approve the expenditure of $3,000 from excess unbudgeted funds to
decorate the light poles, and or windows, within the BID District for the Holiday season.
Moved by H.H. Bredemeier; 2nd Naomi Evans
Motion passed unanimously
4. Hotel Initiative $24,000 as of November 21, 2011 BID Board Meeting
It was moved to increase the BID portion of the Hotel Project Budget by a $24,000 appropriation from the
General Budget (Trust) for the two existing BID Hotels.
Moved By: H.H. Bredemeier moved, Lalo Durazo
Scott Silver further suggested an addition to the motion which stipulated that the hotel partnership
marketing strategy be presented to the BID Marketing Committee for plan review and approval. Mover
accepted the modification.
Moved By: Moved by H.H. Bredemeier; 2nd Lalo Durazo
Motion passed unanimously
5. Approval of CCSG expansion of Assessment Proposal as per May 3, 2012 BID Board Meeting
It was moved to approve amendment to CCSG contract; one-time set up fee of $3,000.00 and increase in
monthly fees from $3,900.00 to $4,200.00 per month.
Motion to Approve: Robert Masrieh moved; Sam Kelly seconded. Motion passed unanimously.
6. Approval of CCSG Proposal for the establishment of baseline for Sidewalk Cafe & Parking Waivers
as per July 6, 2012 Executive Committee Meeting
It was moved to approve the proposal, dated July 2, 2012, provided by Complete Consulting Services for the
establishment of a parking waiver & sidewalk cafe baseline, for the sum of $18,000. Work is to be completed within
90 days,
Moved by H, H, Bredemeier 2nd Sam Kelly
Motion passed unanimously
7. Approval of General & Administrative Executive Director "Transition" Costs as per July 6, 2012
Executive Committee Meeting
The General and Administrative line item within the FY'12 BID Budget needs to be adjusted approximately
$34,000 for the Executive Director Transition process July 2012 —August 2012.
2
Submitted into the public
record in connection with
item BH. 5 on 09-27-12
Priscilla A. Thompson
City Clerk
royal DPZ Action Plan Pr000sal at Mav 3, 2012BJD Board Meetin
0 It was moved to approve the Duany Plater— Zyberk & Company Action Plan proposal dated April 20, 2012
for $99,400.00. There is to be an Amendment to the contract for a "six-month" completion deadline.
Availability of Funds:
The approved FY'12 Capital budget line item Urban Planning Project currently has $40,000 in available funds as of
July 23, 2012. Due to the FY'l 2 Capital line item Facade/CDBG Grant not beginning in FY'12, $59,400 of $75,000 of
the funds will be transferred to Urban Planning Project line item.
There wit now be a total of $99,400 in the Urban Planning Line Item in availability for the remainder of the FY'12
fiscal year and $15,600 in Facade/CDBG Grant line item for the FY'12 Business Improvement District Budget after
the changes aforementioned.
Motion to Approve: Robert Masrieh, moved; Scott Silver seconded. Sue McConnell opposed. Motion passed.
Submitted into the public
record in connection with
item BH. 5 on 09-27-12
Priscilla A. Thompson
City Clerk
Parking waiver fees
Parking Surcharge Revenue
Special events supplemental fees
Sidewalk cafe fees
Banner fees
BID assessments
Investment Income
Hotel Committee Income
Other Income
Sanitation
Security
Marketing & Advertising
Special Events
Bid Events
Streetscape
General and Administrative
Hotel Committee
Capital Items
Coconut Grove Business Improvement District
Consolidated Statement of Activities
Auq-12
$12,153
$18,711
$0
$340
so
$226,728
$324
so
so
$258,256
$9,377
$17,076
$51,570
$13,500
$0
$5,248
$45,631
$0
$19,975
$162,377
$95,879
$12,000
$2,833
$4,583
$2S0
$38,083
$8,000
$10,000
$5,208
$99,292
PERAT,
$9,753
0
$22,180
$10,583
$4,667
$9,870
$27,183
$14,000
$12,278
$153
$377
-$2,833
-$4,243
-$ 250
$188, 645
-$7,676
-$10,000
$158,964
6
$1,406
$ 29,390
$2,917
-$4, 667
-$4,622
,447
-$14, 000
$7,697
TOTAL OPERATING EXPENSES
$126,185
-$26,893
$36,192
$122,772
October20.11- Aftgust 20
Actor I Rudgeit i v
$194,343
$205,816
$25,178
$49,191
$2,500
$556,951
$88,685
$5,306
$1,127,970
$93,634
$158,302
$219,990
$74,461
$39,364
$80,766
$348,905
$0
$83,280
$1,098,702
$29,268
$132,000
$201,667
$31,167
$50,417
$2,750
$418,917
$88,000
$110,000
$57,292
$1,092,208
07,282
$172,365
$243,985
$116,417
$51,333
$108,572
$299,017
$154,000
,06
$1,388,033
-$295,825
$62,343
$4,149
-$5,989
-$1,226
-$250
$138,035
$685
-$110,000
-$51,986
$35,762
,648
-$14,064
-$23,994
-$41,956
-$11,970
$27,806
$49,889
-$154,000
783
-$289,331
,093
7
AdJustment to l-C/M
$6,201
INCOit'7E%EXPENSE
Submitted into the public
record in connection with
item BH. 5 on 09-27-12
Priscilla A. Thompson
City Clerk