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Home My WebLink AboutExhibits its& 'alibition authority Miami Sports and Exhibition Authority PROPOSED OPERATING BUDGET FISCAL YEAR 2015/2016 MIAMI SPORTS AND EXHIBITION AUTHORITY OPERATING BUDGET FOR FISCAL YEAR 2015/2016 Table of Contents I. MSEA Members II. Letter of Introduction III. Budget Summary IV. MSEA Operating Budget MIAMI SPORTS AND EXHIBITION AUTHORITY BOARD OF DIRECTORS Mayor Tomas Regalado, Chairman Commissioner Francis Suarez, Vice -Chairman Commissioner Marc Sarnoff Comnissioner Keon Hardemon Commissioner Wifredo Uxort Nathan Kurland Jay Solowsky Eli Feinberg Anthony Recio Davie Madison Frank Veloso, EXECUTIVE DIRECTOR Lourdes Blanco sports & exhibition authority July 31", 2015 Honorable Mayor Tomas Regalado and Members of the City Conunission 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 $36,004,00 from the sales as well as returning those properties to the tax rolls. MSEA continues to serve the comnnunity as the landlord of the Chi.lclren's Museum, the heliport and seaplane operations at Watson Island. The attached budget will enable MSEA to fulfill its mandate. The budget was unanimously approved by the MSEA board at its July 21", 2015 meeting, and I would respectfully request that you do the same. Thank you in advance for your assistance, Re ytfully, w� Y) Lour es Blanco Exec tive Director Enc. cc: file MIAMI SPORTS & EXHIBITION AUTHORITY 3500 Pan American Drive, Miami, FL 33133 / (305) 416-1105 MIAMI SPORTS AND EXHIBITION AUTHORITY DESCRIPTION Proposed 2015-2(116 Budget REVENUES Heliport/Seaplane Base R Rent MSEA Reserve Funds/Non Restrictive Funds TOTAL. REVENUE I, Payroll, Taxes and Benefits COMPENSATION AND BENEFITS 1 Executive. Director 2•Administrative Services. lrisur 66.4j`e :jtti life, disability 807,488 14,000 16,000 5,000 -SS/State/Federal:Taxes, Medicare 35,000 1,302 Total Payroll, Taxes and Benefits II. Operating Expenses 5 Business Meeting Expenses Courier/Delivery'' Contingencies General Insurance &Directors Liabihty::1r15u Car Allowance 10 Memberships/Subscriptions Ofifice Supplies ';UV:rhouse%Storage 13 Phone/Table PC Allowance 14 P.ranttng `Postage TOTAL OPERATING EXPENSES III. PROFESSIONAL SERVICES 16 Audit 17i. Dank' Servtc..'es; 18: •Apcputjt tt :S ry 0e.s:::: 36,302 1,500 100 • t000 5,400 ,400 500 Zoo 4,500_ 3,400 100 50. 33,750 TOTAL PROFESSIONAL SERVICES TOTAL OPERATING EXPENSES IV. CAPITAL EXPENDITURES 19 OFFICE EQUIPMENT PURCHASES Furni.tore.& 18,883 88,935 TOTAL CAPITAL EXPENDITURES TOTAL OPE.l2ATINO EUDGJTVCAP TA tXPENDITURES_ Excess( shortage) of Revenue over Expenses ;88, 935. 518,553 Miami Sports and Exhibition Authority Operating Budget Notes to Proposed Budget for 2015/2016 General Revenue Rent Revenue, and Reserves: MSEA Watson Island Seaplane Base: $72,000.00 ($6,000.00 month), Heliport: $45,600.00 ($3,800.00 month.). MSEA Reserve Funds/Non- Restrictive Funds: $489,888.23. General Expenses I. Payroll, Taxes and Benefits Executive Director: proposed $14,000.00. The Executive Director provides overall management for the Miami Sports and Exhibition Authority. SS/State and Federal Taxes, Medicare Contribution: $1, 302.00. These funds will be used for Social Security, State and Federal Taxes, and Medicare costs of Executive Director. Administrative Services: Proposed $16,000.00. These funds will be used to pay support staff. Insurance: Proposed $5,000.00. These funds will be disbursed to the Executive. Director on a monthly basis for health, life and disability insurance coverage. II. Operating Expenses Business Meeting Expenses: Proposed $1,500.00. These funds will be used for expenses associated with the Board Meetings of Miami Sports and Exhibition Authority. Courier/Delivery: Proposed $100.00. These funds will be used for courier services, Contingencies: proposed S5,000.00, These funds will be used far any unforeseen expenses incurred during the year, General Insurance & Directors Liability Insurance: proposed $13,000.00. These funds will be used to purchase General Insurance & Directors Liability Insurance for Miami Sports and Exhibition Authority. Car Allowance: Proposed $5,400.00. These funds will be disbursed to the Executive Director on a monthly basis for the use of a car. Phone/Table PC Allowance: $3,400,00, These funds will be disbursed to the Executive Director on a monthly basis for use of a phone and/or tablet PC. Membership/Subscriptions: Proposed $500,00. These fiends will be used primarily to pay State of Florida fees. Warehouse Storage .Services: Proposed $4,500.00, These funds will be used for expenses related to the warehouse storage of the Miami Sports and Exhibition Authority archives. Office Supplies: proposed $200.00. These finds will be used to purchase office supplies. Postage: proposed $50.00. These funds will be used to purchase postage. Printing Services: Proposed III, Professional Services 100.00, These funds will be used for printing services. Audit: proposed $10,000, These funds will be used to pay for the annual audit of MSEA's finances, Bank Services: Proposed $550.00. These funds will be used to pay for professional service fees including, but not limited to bank and state regulatory fees. Accounting Services: Proposed 8,333.00. These funds will be used to pay for accounting services provided by a certified accounting firm to the Miami Sports and Exhibition Authority, Miami Sport and Exhibition Authority (MSEA) City of Miami' FY 2015-16 Budget Template FY 2011-12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 2014-15 Budget FY 2015-16 Proposed Difference Revenues MSEA Watson Island Seaplane Base $72,000 $72,00C Heliport $45,600 $45,60( MSEA Reserve Fund/€ion-Restrictive Funds $53,500 $66,000 $66,000 $89,000 $4.89,900 $400,90C Revenue Grand Total $53,500 $66,000 $66,000 $89,000 $607,500 $518,50( Expenditures Regular Salary & Wages $5,000 $5,000 $20,000 $30,000 Fringe Benefits $3,600 $4,800 FICA Taxes Retirement Contributions Life & Health Insurance $5,000, Workers' Compensation Professional Services $8,000 $15,000 $5,100 $5,000 Professional Services -Legal Accounting and Auditing $15,000 $15,000 $13,000 $14,000 Other Contractual Services Travel & Per Diem $1,300 $1,300 $1,600 $4,200 Communications & Related Services $3,600 $3,600 $2,400 $4,000 Postage $100 $100 $100 Utility Rentals & Leases $100 Insurance $20,000 $25,000 $17,000 $16,000 Repair & Maintenance Services Printing and Binding $100 $100 Printing and Binding -Outsourcing Printing and Binding -Paper Stock Promotional Activities Advertising and Related Costs Other Current Charges & Obligations Office Supplies $100 $600 $300 $200 Operating Supplies $500 1 of 2 $30,000 $8,800 $1,300 $ ,000 $600 $1&,300 $100 $13,000 $100 $200 $c $4,00C $1,30c -$4 40G $4,30C -$4,200 -$4,000 $0 $0 -$3,000 FY 2011-12 Actual FY 2012-13 Actual EY 2013-14 Budget FY 2014-15 Budget FY 2015-16 Proposed Difference Motor Fuel Public Safety supplies Subscriptions, Memberships, Licenses, Permits & Other $200 $500 $500 $C Machinery & Equipment Aids to Private Organizations lnterfund Transfer Ail Other Expenditures - $400 $400 $100 $100 $11,100 $11,00C Budget Reserve - $2,000 $5,000 -$5,00C Expenditure Grand Total $53,500 $66,000 $66,000 $89,000 $89,000 ${ Revenues Minus Expenditures $o $0 2 of 2 $0 $a $513,500 $518,50c Miami Sport and Exhibition Authority (MSEA) - Expenditures Breakdown City of Miami FY 2015-16 Budget Template FY 2011-12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 2014-15 Budget FY 2015-16 Proposed Difference Revenues MSEA Watson island Seaplane Base $72,000 $72,000 Heliport $45,600 $45,600 MSEA Reserve Fund/Non-Restrictive Funds $53,500 $66,000 $66,000 $89,000 $489,900 $400,900 Revenue Grand Total $53,500' $66,000 $66,000 $89,000 $607,500 $518,500 Expenditures RegularSalary & Wages 55,000 $5,000 $20,000 $30,000 $30,000 $0 Executive Director 14,000 Support Staff 16,000 Fringe Benefits $3,600 $4,800 $8,800 $4,000 Executive Director's Car Allowance 5,400 Executive Director's Phone/r"a61et PC Allowance 3,400 FiGA Taxes $1,300 $1,300 Retirement Contributions Life & Health Insurance $5,000 $5,000 $0 Workers' Compensation Professional Services $8,000 $15,000 $5,100 $5,000 $600 -$4,400 Bank Professional Services and Fees 550 Professional Services -Legal Accounting and Auditing $15,000 $15,000 $13,000 $14,000 $18,300 $4,300 Accountng Services 8,333 Annual Audit a 10,000 Other Contractual Services Travel & Per Diem $1,300 $1,300 $1,600 $4,2001 -$4,200 Communications & Related Services $3,600 $3,600 $2,400 $4,000 -$4,000 Postage $100 $100 $100 $100 $0 Utility $100 $0 Rentals & Leases Insurance $20,000 $25,000 $17,000 $16,000 513,000 -53,000 Repair & Maintenance Services 1 of 2 FY 2011 12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 2014-15 Budget FY 2015-16 Proposed Difference Printing and Binding $100 $100 $100 $0 Printing and Binding -Outsourcing Printing and Bin ding-PaperStock Promotional Activities Advertising and Related Costs Other Current Charges & Obligations Office Supplies $100 $600 $300 $200 $200 $0 Operating Supplies $500 Motor Fuel Pubic Safety Supplies Subscriptions, Memberships, Licenses, Permits & Other $200 $500 $500 $0 Machinery & Equipment Aids to Private Organizations lnterfund Transfer All Other Expenditures $400 $400 $100 $100 $11,100 $11,000 Business Meeting Expenses 1,500 Courier/Delivery 100 Contingencies 5,000 Warehouse/Storage 4,500 Budget Reserve $2,000 $5,000 -$5,000 ExpenditureGrandTotal $53,500 $66,000 $66,000 $89,000 $89,000 $0 Revenues minus Expenditures so $n $0 $o $51s,soo $ss$,soo 2 of 2