HomeMy WebLinkAboutExhibit 1e-ci-e4A.2
sports & • exhibition authority
Miami Sports and Exhibition Authority
PROPOSED
OPERATING BUDGET
FISCAL YEAR 2013/2014
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MMIAMI SPORTS AND EXFIIBITION AUTHORITY
OPERATING BUDGET FOR FISCAL YEAR 2013/2014
Table of Contents
I. MSEA Members
H. Letter of Introduction
III. MSEA Operating Budget
MIAMI SPORTS AND EXHIBITION AUTHORITY
BOARD OF DIRECTORS
Mayor Tomas Regalado, Chairman
Francis Suarez, Vice -Chairman
Wifredo Gort, Commissioner
Marc Sarnoff, Commissioner
Michelle Spence -Jones, Commissioner
Luther Campbell
Eli Feinberg
Nathan Kurland
Anthony Recio
Jay Solowslcy
Frank Veloso
EXECUTIVE DIRECTOR
Kirk R. Menendez
fa w
sports & exhibition. authority
July 26, 2013
Honorable Mayor Regalado
And Members of the City Commission
The Miami Sports and Exhibition Authority (MSEA) was established in 1983, pursuant to
Florida Statute 212.057, as an independent and autonomous agency and instrumentality of the
City of Miami. MSEA was created to promote sports, conventions and exhibitions and to strive
to generate community support to achieve this purpose. It was further given the authority to
exercise any power usually possessed by private corporations performing similar functions that
are not in conflict with the Florida constitution or law.
In the past ten years, MSEA has successfully auctioned off the Miami Arena and other associated
properties, reaping over $36,004,000 from the sales as well as returning those properties to the
tax rolls. MSEA continues to serve the community as the landlord of the Children's Museum,
the heliport and seaplane operations on Watson Island.
The attached budget will enable MSEA to fulfill its mandate. The budget was unanimously
approved by the MSEA board at its July 17, 2013 meeting, and I would respectfully request that
you do the same.
Thank you in advance for your assistance.
Respectfully,
1A-,(2-.14-g"
Kirk R. Menendez
Executive Director
Enc.
Cc: file
MIAMI SPORTS AND EXHIBITION AUTHORITY
Proposed Operating Budget
FISCAL YEAR 2013-2014
DESCRIPTION
2013
Budget
REVENUES
MSEA Reserve Funds
$66,000
TOTAL REVENUE
$ 66,000
I. Payroll, Taxes and Benefits
COMPENSATION
1 Executive Director
5o
2 Project Manager
so
3 Bookkeeper
50
4 Retirement Plan
$0
TOTAL PAYROLL, TAXES AND BENEFITS
$0.00
H. Operating Expenses
5 Administrative Services
$20,900
6 Business Meeting Expenses
$1,600
7 Business Travel
$o
8 Car Allowance/Cellphone, Mileage
$6,000
9 Conference Registration
so
10 Contingencies
$2,000
11 Courier/Delivery
$100
12 General Insurance & Directors Liability Insurance
$17,000
13 Memberships/Subscriptions - State of Florida fees
$200
14 Warehouse Storage
$4,500
15 Office Supplies
$300
16 Postage
$50
17 Printing
$too
18 Promotions/Marketing
$o
19 Telephone
$o
TOTAL OPERATING EXPENSES
$51,850
III. Professional Services
20 Audit
$10,000
21 Legal Support MSEA - City Attomey
so
22 Professional Service fees- bank fees
$650
23 Accounting Services
$3,000
TOTAL PROFESSIONAL SERVICES
513,650
TOTAL OPERATING EXPENSES
$65,500
IV. Capital Expenditures
24 Office Equipment
$500
25 Furniture & Fixtures
so
TOTAL CAPITAL EXPENDITURES
$500
TOTAL OPERATING BUDGET Wl CAPITAL EXPENDITURES
$
$ .: 66,000
Miami Sports and Exhibition Authority
Operating Budget
Notes to Budget for 2013/2014
General Revenue
MSEA:Reserve Funds: proposed $66,000. This figure represents revenue from the MSEA
Reserve Funds.
General Expenses
I. Payroll, Taxes and Benefits
Executive Director: proposed $00. The Executive Director provides overall management for the
Miami Sports and Exhibition Authority.
Project Manager: proposed $00. The Project Manager is responsible for MSEA's finance,
bookkeeping and accounting functions of Miami Sports and Exhibition Authority.
Bookkeeper: proposed $00. The Bookkeeper reports to the Project Manager and is responsible
for daily maintenance of MSEA's financial records.
Retirement Plan: proposed $00. These funds will be used for the retirement plan of the
administrative employees.
II. Operating Expenses
Administrative Services: proposed $20,000. These funds will be used to pay for support staff.
Business Meeting Expenses: proposed $1,600. These funds will be used for expenses associated
with the quarterly Board Meetings of Miami Sports and Exhibition Authority.
Car/Phone Allowance: proposed $6000. These funds will be disbursed to the Executive
Director on a monthly basis for the use of a car and a cellphone/smartphone.
Contingencies: proposed $2,000. These funds will be used for any unforeseen expenses incurred
during the year.
Courier / Delivery: proposed $100. These funds will be used for courier services.
General Insurance & Directors Liability Insurance: proposed $17,000. These funds will be
used to purchase General Insurance & Directors Liability Insurance for Miami Sports and
Exhibition. Authority.
Membership/Subscriptions: proposed $200. These funds will be used primarily to pay State of
Florida fees.
Warehouse Storage: proposed $4,500. These funds will be used for expenses related to the
warehouse storage of the Miami Sports and Exhibition Authority archives.
Office Supplies: proposed $300. These funds will be used to purchase office supplies.
Postage: proposed $50. These funds will be used to purchase postage.
Telephone: proposed $0. These funds will be used for telephone services.
III. Professional Services
Audit: proposed $10,000. These funds will be used to pay for the annual audit of the Miami
Sports and Exhibition Authority's finances.
Professional Services Fees: proposed $650. These funds will be used to pay for professional
service fees including, but not limited to, bank and state regulatory fees.
Accounting Services: proposed $3,000. These funds will be used to pay for accounting services
provided by a certified public accounting firm and/or individual to the Miami Sports and
Exhibition Authority.
Office Equipment: proposed $500; These funds will be used for office equipment purchases,
rental or lease.