Loading...
HomeMy WebLinkAboutExhibitMiami Parking Authority (Department of Off -Street Parking) Proposed Operating Budget Fiscal Year 2014-15 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors July 31, 2014) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2015 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 Assessment Expenses Rental - Building/Land Revenue Sharing Parking Meter Parts & Installation Legal and Professional Bank Charges Supplies & Miscellaneous Other Expenses Advertising & Promotion Total Operating Expenses Operating Results Before Depr & Amort Depreciation & Amortization Operating Results Non -Operating Revenues (Expenses): Interest Income Gain (Loss) on Disposal Property Interest Expenses Excess Revenue Distribution to City of Miami Budgeted Reserves Total Non -Operating Net Revenue In Excess of Expenses FY 2013 FY 2014 FY 2015 Actual Approved Budget Proposed Budget 4,233,463 8,376,690 14,097,206 816,185 267,018 4,365,044 8,027,024 14,764,500 308,236 220,000 5,029,739 7,479,767 14,965,523 763,350 257,970 27,790,562 27,684,804 28,496,349 6,031,491 1,312,713 808,592 675,246 455,510 440,812 681,552 1,837,357 318,610 1,515,455 912,736 153,579 208,340 325,655 6,256,872 1,289,663 878,610 709,244 499,207 437,868 678,456 1,911,094 188,430 1,248,610 890,000 198,497 325,925 346,000 6,802,213 1,308,964 992,428 712,862 508,705 437,868 776,855 730,066 186,150 1,506,512 1,002,000 185,266 327,379 368,500 15,677,648 15,858,476 15,845,768 12,112,914 (3,756,581) 11,826,328 12,650,581 (3,513,860) (3,416,643) 8,356,333 8,312,468 9,233,938 (58,501) (3,620,048) (6,500,000) 10,000 (3,553,382) 10,000 (3,554,824) (7,200,000) (300,000) (10,178,549) (3,543,382) (11,044,824) (1,822,216) 4,769,086 (1,810,886) Requested Budget 2015 vs. FY 2013 Actual Budget 2014 Increase/(Decrease) 796,276 664,695 (896,923) 868,317 (52,835) (9,048) (547,257) 201,023 455,114 37,970 705,787 811,545 770,722 (3,749) 183,836 37,616 53,195 (2,944) 95,303 (1,107,291) (132,460) (8,943) 89,264 31,687 119,039 42,845 545,341 19,301 113,818 3,618 9,498 98,399 (1,181,028) (2,280) 257,902 112,000 (13,231) 1,454 22,500 168,120 (12,708) 537,667 824,253 339,938 97,217 877,605 921,470 68,501 65,224 (700,000) (300,000) (1,442) (7,200,000) (300,000) (866,275) (7,501,442) 11,330 (6,579,972) Requested Budget 2015 vs. FY 2013 Actual Budget 2014 Increase/(Decrease) 18.81 (10.71) 6.16 (6.47) (3.39) 15.23 (6.82) 1.36 147.65 17.26 2.54 2.93 12.78 (0.29) 22.74 5.57 11.68 (0.67) 13.98 (60.27) (41.57) (0.59) 9.78 20.63 57.14 13.16 8.72 1.50 12.95 0.51 1.90 14.50 (61.80) (1.21) 20.66 12.58 (6.67) 0.45 6.50 1.07 (0.08) 4.44 (9.05) 10.50 6.97 (2.77) 11.09 (117.09) (1.80) 10.77 100.00 0.04 100.00 100.00 8.51 211.70 (0.62) (137.97) MIAMJ.PARICING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2015 Operating Budget FY 2013 FY 2014 FY 2015 Requested Budget 2015 Requested Budget 2015 Approved Proposed vs. vs. Actual Budget Budget FY 2013 Actual Budget 2014 FY 2013 Actual Budget 2014 $ $ $ Increase/(Decrease) Inerease/(Decrease) Operating Revenue 060-Street Facilities 4,233,463 4,365,044 5,029,739 796,276 664,695 18.81 15.23 Parking Lots 8,376,690 8,027,024 7,479,767 (896,923) (547,257) (10.71) (6.82) On -Street 14,097,206 14,764,500 14,965,523 868,317 201,023 6.16 1.36 Management Fees 816,185 308,236 763,350 (52,835) 455,114 (6.47) 147.65 Other 267,018 220,000 257,970 (9,048) 37,970 (3.39) 17.26 Total Operating Revenue 27,790,562 27,684,804 28,496,349 705,787 811,545 2.54 2.93 Operating Expenses Salaries, Wailes & Fringe Benefits Salaries -Regular 4,493,216 4,532,871 4,993,831 500,615 460,960 11.14 10.17 Salaries - Overtime 124,171 158,274 158,274 34,103 - 27,46 Salaries - Sick&Vacation 359,341 274,510 329,593 (29,748) 55,083 (8.28) 20.07 Social Security 311,013 334,954 334,077 23,064 (877) 7.42 (0.26) Healthlnsurance 243,363 391,118 510,403 267,040 119,285 109.73 30.50 Retirement 330,436 459,566 349,265 18,829 (110,301) 5.70 (24.00) Benefits - (Auto, LTD, STD) 145,670 105,579 126,770 (18,900) 21,191 (12.97) 20.07 Tuition 8,112 (8,112) (100,00) Miscellaneous Pay • 16,163 (16,163) (100.00) 6,031,485 6,256,872 6,802,213 770,728 545,341 12.78 8.72 Repairs, Maintenance, Cleaning & Landscape Maintenance -Property 134,644 160,900 126,580 (8,064) (34,320) (5.99) (21,33) Maintenance- Landscaping 158,447 123,800 140,255 (18,192) 16,455 (11.48) 13.29 Maintenance -Elevators 54,528 70,940 80,140 25,612 9,200 46.97 12.97 Maintenance - A/C 46,766 12,500 16,000 (30,766) 3,500 (65.79) - 28,00 Maintenance -Computers 84,100 64,050 64,550 (19,550) 500 (23.25) 0.78 Maintenance - Garage Equipment 163,927 178,164 188,201 24,274 10,037 14.81 5,63 Maintenance -Alarms 16,802 8,500 16,100 (702) 7,600 (4.18) 89.41 Maintenance - TV Surveillance 6,543 17,600 19,400 12,857 1,800 196.50 10,23 Repairs -Equipment 20,907 19,400 19,500 (1,407) 100 (6.73) 0.52 Motor Pool 169,126 210,870 208,600 39,474 (2,270) 23.34 (1.08) Cleaning & Housekeeping Supplies 247,323 250,239 247,088 (235) (3,151) (0.10) (1.26) Expendable Tools 4,079 2,000 - (4,079) (2,000) (100.00) (100.00) Clothing 37,563 40,700 41,550 3,987 850 10.61 2.09 Signs 56,419 74,000 72,000 15,581 (2,000) 27.62 (2.70) Small Equipment 51,264 52,200 67,000 15,736 14,800 30.70 28.35 Maintenance - Other 4,168 3,800 2,000 (2,168) (1,800) (52.02) (47.37) Cleaning 55,913 - - (55,913) - (100.00) - 1,312,519 1,289,663 1,308,964 (3,555) 19,301 (0.27) 1.50 Securi Security Armored Car Services 788,034 876,310 990,128 202,094 113,818 25.65 20,559 2,300 2,300 (18,259) - (88.81) 12.99 808,593 878,610 992,428 183,835 113,818 22.74 12.95 Utilities Telephone 287,188 308,756 313,320 26,132 4,564 9.10 1,48 Light&Power 355,733 367,150 363,602 7,869 (3,548) 2.21 (0.97) Water 32,325 33,338 35,940 3,615 2,602 11.18 7.80 675,246 709,244 712,862 37,616 3,618 5.57 0.51 Insurance Property & Gen Liability Insurance Workers Compensation Insurance Rental - Building/Land Rental - Building/Land 443,820 437,717 446,381 2,561 8,664 0.58 11,690 61,490 62,324 50,634 834 433.14 1,98 1.36 455,510 499,207 508,705 53,195 9,498 11.68 1.90 681,552 678,456 776,855 95,303 98,399 13.98 14.50 Assessment Expenses Assessment Expenses - Repairs & Maintenance 109,391 99,372 99,372 (10,019) (9.16) Assessment Expenses - Utilities 4,345 45,600 45,600 41,255 949.48 Assessment Expenses - Office Supplies 35,538 3,720 3,720 (31,818) (89.53) Assessment Expenses - Management Fee 39,632 38,988 38,988 (644) (1.62) Assessment Expenses -Insurance 178,022 177,564 177,564 (458) - (0.26) Assessment Expenses - Security 73,886 72,624 72,624 (1,262) (1.71) 440,814 437,868 437,868 (2,946) (0.67) Revenue Sharing Revenue Sharing 1,837,357 1,911,094 730,066 (1,107,291) (1,181,028) (60.27) (61.80) Parking Meter Parts & Installation Equipment Rental Parking Meter Parts & Installation 32,256 34,550 41,150 8,894 6,600 27.57 19.10 286,354 153,880 145,000 (141,354) (8,880) (49.36) (5.77) 318,610 188,430 186,150 (132,460) (2,280) (41.57) (1.21) 1111.41111 PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2015 Operating Budget FY 2013 FY 2014 FY 2015 Requested Budget 2015 Requested Budget 2015 Approved Proposed vs. vs. Actual Budget Budget FY 2013 Actual Budget 2014 FY 2013 Actual Budget 2014 $ $ $ Increase/(Decrease) Increase/(Decrease) Legal and Professional Property Surveys, Platting 5,000 5,000 5,000 Legal Services 119,350 117,624 117,624 (1,726) Trustee Fees 15,000 25,000 25,000 10,000 Audit Fees 150,000 135,000 135,000 (15,000) Other Consultants 1,231,105 965,986 1,223,888 (7,217) Bank Charges Bank Charges 257,902 1,515,455 1,248,610 1,506,512 (8,943) 912,736 890,000 1,002,000 257,902 89,264 112,000 (1.45) 66.67 (10.00) (0.59) (0.59) 26.70 20.66 9.78 12.58 Supplies & Miscellaneous Postage & Courier Services 8,467 13,400 7,400 (1,067) (6,000) (12.60) (44.78) Printing 92,421 109,147 100,466 8,045 (8,681) 8.70 (7.95) Office Supplies 23,133 22,600 26,200 3,067 3,600 13.26 15.93 Office Equipment 9,799 6,050 5,900 (3,899) (150) (39.79) (2.48) Computer Supplies 683 9,500 9,000 8,317 (500) 1,217.72 (5.26) Computer Software 19,075 37,800 36,300 17,225 (1,500) 90.30 (3.97) 153,578 198,497 185,266 31,688 (13,231) 20.63 (6.67) Other Expenses Property Taxes 120,757 153,430 154,234 33,477 804 27.72 0.52 Licenses & Permits 5,030 950 1,075 (3,955) 125 (78.63) 13.16 Miscellaneous 16,006 12,550 14,050 (1,956) 1,500 (12.22) 11.95 Entertainment - - - - - - Travel 4,400 12,000 12,500 8,100 500 184.09 4.17 Training 6,147 38,600 38,000 31,853 (600) 518.19 (1.55) Meetings and Conventions 40,985 84,350 84,050 43,065 (300) 105.08 (0.36) Cashier- Overage/(Shortage) 4,649 50 100 (4,549) 50 (97.85) 100.00 Publications 180 1,325 1,200 1,020 (125) 566.67 (9.43) Membership Dues 9,591 22,670 22,170 12,579 (500) 131.15 (2.21) Claims Settlement 816 (816) (100.00) Bad Debt Expense - - Penalties & Interest (246) 246 (100.00) 208,315 325,925 327,379 119,064 1,454 57.16 0.45 Advertising & Promotion Promotional 15,763 15,000 17,500 1,737 2,500 11.02 16.67 Public Relations 294,739 230,000 240,000 (54,739) 10,000 (18.57) 4.35 Advertising - 15,153 101,000 111,000 95,847 10,000 632.53 9.90 325,655 346,000 368,500 42,845 22,500 13.16 6.50 Total Operating Expenses 15,677,425 15,858,476 15,845,768 168,343 (12,708) 1.07 (0.08) Operating Results Before Depr & Amor 12,113,137 11,826,328 12,650,581 537,444 824,253 4.44 6.97 Depreciation & Amortization (3,756,581) (3,513,860) (3,416,643) 339,938 97,217 (9.05) (2.77) Operating Results 8,356,556 8,312,468 9,233,938 877,382 921,470 10.50 11.09 Non -Operating Revenues (Expenses): Interest Income (58,501) ' 10,000 10,000 68,501 (117.09) Gain (Loss) on Disposal Property - - - - Interest Expenses (3,620,048) (3,553,382) (3,554,824) 65,224 (1,442) (1.80) 0.04 Excess Revenue Distribution to City of Miami (6,500,000) (7,200,000) (700,000) (7,200,000) 10.77 100.00 Budgeted Reserves - (300,000) (300,000) (300,000) 100.00 100.00 Total Non -Operating (10,178,549) (3,543,382) (11,044,824) (866,275) (7,501,442) 8.51 211.70 Net Revenue In Excess of Expenses (1,821,993) 4,769,086 (1,810,886) 11,107 (6,579,972) (0.61) (137.97) 1MIIAMI PARKING AUTHORITY Schedule of Revenues and Expenses Proposed FY 2015 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, Wakes & Fringe 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 Security — 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 Other Benefits — Insurance premiums paid by MPA on behalf of full-time administrative and operations personnel for auto, short-teiiu disability and long term disability Page 1 of 6 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, Cleaning & 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 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 6 Clothing — Uniforms 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 perfoiiii 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 Page3 of 6 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 Parkin..' 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 an.d 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 Pay 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 6 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 Advertisin, & 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) Page 5 of 6 Non -Operating Revenues / (Expenses) Depreciation & Amortization — Depreciation related to parking facilities, including building and structures, leasehold 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. Excess Revenue Distribution to the City of Miami — Operating revenues in excess of: (a) operating expenses; (b) debt service payments; and (c) renewal and replacement capital requirements and reserves for working capital needs. Budgeted Reserves — Funds that are based on sound fiscal principles designed to allow the Authority to maintain continuity of operations in adverse conditions while being mindful of our fiduciary reasonability to residents and visitors, both current and future generations.. Page 6 of 6