The URL can be used to link to this page

Home My WebLink AboutExhibit SUBAlvarez, Valentin J Subject: Attachments: Wynwood Bid budget Revised Wynwood BID Budget FY'17 as of 09 14 2016.xls; ATT00001.txt Original Message From: tcuritore@wynwoodbid.com [mailto:tcuritore@wynwoodbid.com] Sent: Wednesday, September 14, 2016 3:43 PM To: Rose, Christopher; Medina, Anna; Arcia, Miriam; Ruiz, Joseph A.; Jackson, Robin Jones; Tom Curitore Subject: Wynwood Bid budget i Wynwood Business Improvement BudgetDistrict FY'17 INCOME Substituted Item - Original May Be Seen At The End. � / Income/un/uamp Approved rY.16audgmt Actual Oct/ 'May/t6 ProjectedProjectedz� Sep/16 Total Actual + Projected 2016 Proposed pv'17audgmt — —� Comments s BID Assessments $708,564 $682.080 $60'000 $742'080 $775'658 The expected collections ixysmoftnthe amount u|Ueu net vfzminregards to discounts and penalties ($uaaxbilled 'g1oKnet d|scvunts/pena|t|es)xosm expected collections. Deferred Collections $58,080 $33'710 $3,000 $30,710 g50'000 Based unprevious trends, the BID expects mcollect next fiscal $su'nonfrom the fiscal year xnzs(oct/1s-Jan/zs). $zs'n000rthe deferred Folios from fiscal year zo1+zozsand $sxfrom znz3-uo1«, City mMiami comzmuuun $O $O $247,500 Total Income $766,S64 $715,790 | $63,000 U | K $77M�9� ' | $�07��1S8 | EXPENSES Expenses Approved Fv`�6�ud�et Actual Oct -May Projectedi� Jun/16tm sep/%6 TotalActual pnde�e��z� Proposed Fv'�7mu�oet Comments Streetscape $5'160 $1,900 $0 $1'908 $22'688 mmthroughout mSidewalk Maintenance, Security $300'000 $199,107 $90,000 $289^107 $498^330 The o|u projects approximately 7sonHours tu be used (azs xvuo a month). The City mMiami Police increased their rate from $az/$3saohour to$»a/$s7.|n addition the BID must pay the City ovMiami the Surcharge which iscalculated at $4 per hour nfeach Off -Duty Officer. Sanitation $34`000 $34,529 $17,000 g51,529 $115'170 The BID Projects ^ospend omHours amonth vnextra sanitation workers plus Sanitation Supplies (including uniforms) Marketing & Advertising $100'000 $74,317 $18,000 $92,317 $13E'000 Visitors Guides, Replacement Banners, web site and Maintenance ($omx)and other Various Publications ($sxx) GQA $281.582 $194,840 g72,000 $266'840 $302.070 Executive Director and one sanitation employee ($150K), Economic Development Director <$7omwith Office Support, Office Rent ($zsx)'Insurance (gyk)'office supplies, utilities. Bookkeeping and annual audit ($4sx). TOTAL EXPENSES Total Expenses $720,742 $504693 $197,000 $701,693 $1,073°158 NET OPERATING INCOME Net Operating |muwmm $45,822 $211,097 -$134,000 $77,097 $D File No 16-01133 Wynwood Business ►mprovement District Budget FY'17 INCOME Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 TOTAL BID Assessments $9,011 $6,130 $163,183 $163,183 $0 $130,546 $173,058 $65,273 $16,318 $16,318 $16,318 $16,318 $775,658 Deferred Collections $5,000 $10,000 $15,000 $10,000 $5,000 $2,500 $2,500 $0 $0 $0 $0 $0 $50,000 Total Income $ $14,011 $16,130 $178,183 $173,183 $5,000 $133,046 $175,558 $65,273 $16,318 $16,318 $16,318 $16,318 $825,658 EXPENSES Expenses Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 TOTAL Streetscape $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $1,882 $22,588 Security $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $41,528 $498,330 Sanitation $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $9,598 $115,170 Marketing & Advertising $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $135,000 G & A $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $302,070 Total Expenses $89,430 $89,430 $89,430 $89,430 $89,430 $89,430 $89,430 $89,430 _ $89,430 $89,430 $89,430 $89,430 $1,073,158 Net Operating Income -$75,419 -$73,299 $88,753 $83,753 -$84,430 $43,617 $86,128 -$24,157 -$73,112 -$73,112 -$73,112 -$73,112 -$247,500 Wynwood Business Improvement District Bud et FY'17 TOTAL BILLED $815,915 Oct-16 Nov-16 FY Dec-16 2017 Current Jan-17 Year Assessment Feb-17 Revenue Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 TOTAL Amount $9,011 $6,130 $163,183 $163,183 $0 $130,546 $173,058 $65,273 $16,318 $16,318 $16,318 $16,318 $775,658 Percentage of Total Collected 1% 1% 20% 20% 0% 16% 21% 8% 2% 2% 2% 2% 95% FY17 BID ASSESSMENTS The expected collections is 95% of to the amount billed net of 2% in regards to discounts and penalties ($832K billed -$16K net discounts/penalties) X 95% expected collections. TOTAL BILLED Amount Percentage of Total Collected FY 17 DEFERRED COLLECTIONS $50,000 Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mat-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 $5,000 $10,000 $15,000 $10,000 $5,000 $2,500 $2,s00 10% 20% 30% 20% 10% 5% 5% 0% 0% 0% 0% 0% S50,000 100% Based on previous trends, the BID expects to collect next fiscal $30,000 from the fiscal year 2016 (Oct/15-Jan/16). $15,000 of the deferred Folios from fiscal year 2014-2015 and $5K from 2013-2014. rat... W. vot:wow> Wynwood Business Improvement District Budget FY'17 Sidewalk Maintenance, Mulching & Weeding Police Off -Duty Services Wynwood Business Improvement District Budget FY'17 $468,330 The BID projects approximately 7500 Hours to be used (625 Hours a month). The City of Miami Police increased their rate from $32/$33 an hour to $36/$37 Surcharge $30,000 Surcharge is calculated at $4 per hour of each Off -Duty Officer Sanitation Contractors Wynwood Business Improvement District Budget FY'17 $109,170 The BID Projects to spend 240 Hours a month on extra sanitation workers Sanitation Supplies (including uniforms) $6,000 70 Based on Previous Year Trends for Sanitation Supplies Wynwood Business Improvement District Budget FY'17 Expense Amount ket€ng & Adverstising Comments Marketing $100,000 Visitors Guides, Replacement Banners, web site and Maintenance Advertising $35,000 Various Publications Wynwood Business ►mprovement District Budget FY`17 G&A Expense Amount Comments Staff Salaries $150,000 Tom's Salary & Benefits ($117,000) & 1 Sanitation Employee ($33,000) Licenses Fees & Dues $500 Annual Registration Fees, etc. Office Utilities $2,400 Comcast Phone & Internet Office Equipment & Supplies $1 500 Based on Current Year trend of expenses Office Rent $23,488 Based on Increase starting Jan/2017 Insurance $9,182 Premium Increased FY '16, based on that trend Total $187,070 Proffesional Services Expense Amount Comments Professional Services $70,000 Economic Development Director ($70K) with Office Support Bookkeeping $36,000 Based on Agreement in place through 2017-2018 Annual Audit $9,000 Based on FY'16 Fees for Previous Audite Total $115,000 G&A & Proffesional Services Grand Total $302,070 SUBSTITUTED. Wynwood Business Improvement District City of Miami Budget Template , llIQ-MA tfill1144.4etnet_ yT-,2014-JSA,,,etexel; ' 0,205460,440 ,,- fr*V-4Pm10,000.,, : ty,1016,41fiveosto, Pithitect0- t4"''' BID Assessments $676,011 $708,564 $742,080 $775,658 +$67,094 Collections Deferred $0 $58,000 $36,710 $50,000 -$8,00, Surplus Funds $369,789 $0 $0 0 Revenue Grand Tota 56 50 $1,045800 $766,564 $778,790 825,658 $59,094 50 Expenditures. Regular Salary and Wages 5130,000 $152,000 $153,000 $150 I' d -$2,000 Fringe Benefits FICA Taxes Retirement Contributions Life and Health Insurance Workers' Compensation MEM IIIIIIONIIIIIIIIIIIIIIIIMII Professional Services - Legal Professional Services $100,000 $99,450 $ , 00 $106,000 +$6, 50 Accounting and Auditing $9,000 + 9,000 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Other Contractual Services 5266,000 5300,000 5289,107 $300,000 50INNIIIIIIIIIIIIIIIIIIIIIIIIIII Travel and Per Diem Communications and Related Services IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII +$ 00 aIIIIIIIIIIIIIINIINIIIIIIIII Postage Utility $2,400 Rentals and Leases $22,000 22,752 $24,658 $23,488 , + 7 6 Repair and Maintenance Services Printing and Binding Advertising and Related Costs $200,000 $100,000 $92,317 $135,000 +535,000 Office SUPPlies $19,0$ ' 5720 5,246 $1,500 ± 780 IIIIIIIIIIIIIMIIIIIIIIIIIIIIIIIIIIIIMIIIIIII IIIIIIIIII IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII 11111111111111111111111111111111111111111 IIIIIIIIIIIIIIIIIIIIIIIIIIIIIIIII Operating Supplies Motor Fuel Public Safety Supplies Subscriptions, Memberships, and Licenses Interfund Transfer 111111111.1111111111111111111111111111111111111 + 5 ,86 2 IIIIIIIIIIIIIIIIIIINIIIIIIIIIIIIIIIIIIIII . :04 Capital Projects and Purchases All Other Expenditures $172,000 $45,820 $82,865 $97,682 Budget Reserve 04040004'N- 0000 roof ' , „ : ,,, - 1, , - ,30 , '.n' , ,' _ -, ' ,,,"40:„.". - , '45109,000 _ , '$720,70 , ,",;; -,,, , ' : 043406401003:''''"0 Printed: 8/4/2016 901 AM 5,134 Page 1 of 1 I Wynwood Business Improvement District Budget FY'17 INCOME SUBSTITUTED. Income Approved FY'16 Budget Actual Oct/15 -May /16 Projected Jun/16 to Sep/16 Total Actual + Projected 2016 Proposed FY'17 Budget Comments BID Assessments $708,564 $682,080 $60,000 $742,080 $775,658 The expected collections is 95% of to the amount billed of 2% in regards to discounts and penalties ($832K billed -$16K net dis • nts/penalties) X 95% expected collection Deferred Collections $58,000 $33,710 $3,000 $36,710 $50,000 Based on previous trends, the BID expects , ollect next fiscal $30,000 from the fiscal year 2016 (Oct/15-Jan/16). $15 Iit of the deferred Folios from fiscal year 2014-2015 a. 5K from 2013-2014. Reserve $0 $0 $0 $0 $0 Total Income $766, 64 $715,790 $63,000 $778,790 $825,658 EXPENSES Expenses Approved FY'16 Budget Actual Oct/15 -May /16 Projected Jun/16 to Sep/16 Total Actual + Projected 2016 Proposed FY'17 Budge PPP"' Comments Streetscape $5,160 $1,900 $0 51,900 ' 2 ,000 Sidewalk Maintenance, Mulching & Weeding throughout the BID Area Security $300,000 $199,107 $90,000 $289,107 $300,000 The BID projects approximately 7500 Hours to be used (625 Hours a month). The City of Miami Police increased their rate from $32/$33 an hour to $36/$37. In addition the BID must pay the City of Miami the Surcharge which is calculated at $4 per. hour of each Off -Duty Officer. Sanitation $34,000 $34,529 ,000 551,529 $66,000 The BID Projects to spend 240 Hours a month on extra sanitation workers plus Sanitation Supplies (including uniforms) Marketing & Advertising $100,000 574,31 $18,000 $92,317 $135,000 Visitors Guides, Replacement Banners, web site and Maintenance ($100K) and other Various Publications ($35K) G & A $281,582A $194,840 $72,000 $266,840 $302,070 Executive Director and one sanitation employee ($150K), Economic Development Director ($70K) with Office Support, Office Rent ($23K), Insurance ($9k), office supplies, utilities. Bookkeeping and annual audit ($45K). TOTAL EXPENSES Total Expenses 20,742 $ 04,693 $197,000 $701,693 $825,070 1------- NET OPERATING INCOME Net Ope . mg Income $45,822 $211,097 -$134,000 $77,097 5588 Wynwood Business improvement District Budget FY117 INCOME SUBSTITUTED. I I Oct-16 Nov-16 Dec-16 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Ti • L BID Assessments $9,011 $6, 30 $163,183 $163,183 $0 $130,546 $173,058 $65,273 $16,318 $16,318 $16,318 $16,318 $775,658 Deferred Collections $5,000 $10,000 $15,000 $10,000 $5,000 $2,500 $2,500 $0 $0 $0 $0 $50,000 !Total Income $14,011 $16,130 $178,183 $173,183 $5,000 $133,046 $175,558 $6 ,273 $16,318 $16,318 $16,31 $16,318 $825,658 EXPENSES Expenses Oct-16 Nov-16 Dec-/6 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 J Aug-17 Sep-17 TOTAL Streetscape $1,833 $1,833 $1,833 $1,833 $1,833 51,833 $1,833 $1,833 $1,83 $1,833 $1,833 $1,833 $22,000 Security Sanitation $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 $25,000 = 5,000 $25,000 $25,000 $25,000 $300,000 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 $5,500 00 $5,500 $5,500 $5,500 $5,500 $66,000 Marketing & Advertising $11,250 $11,250 $11,250 $11,250 $11,250 $11,250 $11, •511250 $11,250 $11,250 $11,250 $11,250 $135,000 G & A $25,173 $25,173 $25,173 $25,173 $25,173 $25,173 25,173 $25,173 $25,173 $25,173 $25,173 $25,173 $302,070 Total Expenses $68,756 $68,756 $68,756 $68,756 $68,756 -,756 $68,756 $68,756 $68,756 $68,756 $68,756 $68,756 $825,070 Net Operating Income - -$54,745 -$52,625 $109,427 $104,427 : .3,7 6 $64,291 $106,802 -$3,483 -$52,438 - 52,438 -$52,438 -$52,438 $588 SUBSTITUTED. ga,RXIII()Igt1II;117I7igV,txt(J1.IIt:JMJ, TOTAL BILLED Amount Percentage of Total Collected $815,915 Oct-16 Nov-16 $9,011 1% $6,130 1% Dec-16 $163,183 20% Wynwood Business improvement District Budget FY'17 ,20Vt.tttiteiitYOafktSatttittftROVOOtret.UI'F Jan-17 5163,183 20% Feb-17 50 0% Mar-17 Apr-17 $130,546 $173,058 16% FY17 BID ASSESSMENTS May-17 565,273 21% 8% Jun-17 Jul-17 $16,318 516,318 2% The expected collections is 95% of to the amount billed net of 2% in regards to discounts and penalties ($832K billed -$16K net discounts/penalties) X 95% expected collections. FY 17 DEFERRED COLLECTIONS 2% Aug-17 Sep-17 $16,318 2% $16,318 75,658 95% ftli,4V*SC%;':'=7.AE$W2KEtifV ''''''' ' Nt4RCZYENWaitintaKilZjfMtaEA6M'W,AiRtMtticf6XKIRIirlOrneagtr;SM:,WaardNiWR2RMNaf 5 0,000 An,ount 55,000 $10,000 515,000 $ 0,000 $ ,000 $2,500 $2,500 $0 $0 50 Percentage of T tal Collected 10% 20% 30% 20% 10% 5% 5% 0% 0% 0% 0% 0% 100% Based on previous trends, the BID expects to collect next fiscal $30,000 from the fiscal year 2016 (Oct/15-Jan)16). $15,000 of the deferred Folio m fiscal year 2014-2015 and $5K from 2013-2014. Wynwood Business Improvement District Budget FY117 BS"s'1T1 Wynwood Business Improvement District Budget FY'17 Expf,!/1-qeArnount Police Off -Duty Services Surcharge $270,000 $30,000 Set:Lif ity SUBSTITUTED. The BID projects approximately 7500 Hours to be used (625 Hou month). The City of Miami Police increased their rate from $32/$33 a our to $36/$37 Surcharge is calculated at $4 per hour r each Off -Duty Officer Sanitation Contractor Wynwood Business Improvement District Budget FY'17 $60,000 Sailitation r. SUBSTITUTED. The BID Projects to spend 240 Hours a month on e a sanitation workers Sanitation Supplies (including uniforms) $6,000 Based on Previous Year Trends f anitation Supplies Wynwood Business Improvement District Budget FY'17 Marketing & Adverstising Expense ArilOtifit Marketing Advertising 7 $100,000 SUBSTITUTED. Visitors Guides, Replacement Banners, web site Maintenance $35,000 Various Publications Wynwood Business Improvement District Budget FY'17 SUBSTITUTED. &A Expense Amount Comments Staff Salaries $150,000 Tom's Salary & Benefits ($117,000) & 1 Sani - ion Employee ($33,000) Licenses Fees & Dues $500 Annual Registrat'Fees, etc. Office Utilities $2,400 Comcas - one & Internet Office Equipment & Supplies $1f 500 Based o urrent Year trend of expenses Office Rent $23,488 rased on Increase starting Jan/2017 Insurance $9,182 Premium Increased FY'16, based on that trend Total $i87,070 • ffesional Services Expense . , aunt Comments Professional Services $70,000 Economic Development Director ($70K) with Office Support Bookkeeping $36,000 Based on Agreement in place through 2017-2018 Annual Audit $9,000 Based on FY 116 Fees for Previous Audite Total $115,O00 G&A& Proffesio Services Grand Total $302,070