The URL can be used to link to this page

Home My WebLink AboutExhibitBUDGET SUMMARY The Downtown Development Authority of the City of Miami, Florida Fiscal Year 2017-2018 THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI ARE 13.3% MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES Revenue Sources Ad Valorem Tax Levy Other Revenue Total Sources 0.4681 Millage per $1000 Fund Balances/Reserves Total Revenues and Balances Operating Expenditures Leadership, Advocacy & Operations Business Development & Marketing Arts, Culture & Entertainment Urban Placemaking Transit, Connectivity & Mobility Tri-Rail Downtown Link Quality of Life Total Operating Expenditures GENERAL FUND 8,791,683 165,000 8,956, 683 2,984,000 11,940, 683 1,276,000 2,220,000 1,058,000 1,694,000 1,043,000 317,000 2,661,000 10, 269,000 Fund Balances/Reserves 1,671,683 Total Expenditures, Reserves and Balances 11,940,683 Downtown Development Authority of the City of Miami City of Miami Budget Template FY 2013-14 Actual FY 2014-15 Actual FY 2015-16 Actual FY 2016-17 Budget FY 2016-17 Projection FY 2017-18 Proposed Revenues Ad Valorem $5,585,564 $6,119,167 $6,612,767 $7,808,726 $7,027,853 $8,791,683 Grants $13,500 $0 $156,400 Interest $6,333 $6,515 $7,247 _ Miscellaneous $109,045 $119,569 $67,040 $165,000 Revenue Grand Total $5,714,442 $6,245,251 $6,843,454 $7,808,726 $7,027,853 $8,956,683 Expenditures Regular Salary and Wages $1,522,124 $1,606,737 $1,895,238 $2,057,300 $2,057,300 $2,197,052 Fringe Benefits $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 FICA Taxes $109,933 $115,912 $137,795 $157,400 $157,400 $168,033 Retirement Contributions $102,917 $109,132 $125,588 $143,900 $153,900 $154,790 Life and Health Insurance $231,971 $268,300 $294,174 $392,100 $300,990 $429,246 Workers' Compensation $7,766 $16,131 $10,311 $16,200 $10,000 $17,200 Professional Services - Legal $135,390 $48,867 $34,796 $30,000 $30,000 $30,000 Professional Services $138,834 $136,871 $140,867 $170,000 $170,000 $170,000 Accounting and Auditing $26,188 $25,000 $22,000 $24,000 $22,000 $24,000 Other Contractual Services $82,418 $84,274 $107,310 $102,000 $102,000 $167,000 Travel and Per Diem $29,863 $9,914 $29,495 $0 $0 $0 Communications and Related Services $237,357 $244,930 $277,286 $324,800 $320,000 $414,472 Postage $2,844 $1,864 $2,513 $3,000 $3,000 $3,000 Utility Rentals and Leases $217,984 $225,120 5232,056 $243,000 $243,000 $265,256 Repair and Maintenance Services $3,541 $3,910 $3,675 $4,000 $4,000 $5,000 Printing and Binding $17,147 $16,216 $17,378 $20,000 $15,000 $20,000 Advertising and Related Costs $163,596 $160,220 $154,093 $195,000 $195,000 $218,000 Printed: 8/11/2017 11:34 AM Difference Notes +$982,957 taxable value growth +$165,000 Expected revenues from other gov't $1,147,957 $0 +$139,752 New DET Supervisor, new Public Information Officer (part of Micellaneous income), and Agency -wide Cost of Living Adjustment increase $0 +$10,633 Commensurate to salaries +$10,890 Commensurate to salaries +$37,146 Expected 9% increase in Healthcare costs +$1,000 Expected increase in policy $0 S0 $0 +$65,000 Additional Marketing and Branding company to be hired in FY1718 and increase in IT services/products $0 +$89,672 Expected video costs to promote DDA so +$22,256 Contractual increase +$1,000 Expected additional costs $0 +$23,000 Increase in PR company contract amount during RFP award process in FY1617 Page 1 of 2 Downtown Development Authority of the City of Miami City of Miami Budget Template FY 2013-14 Actual FY 2014-15 Actual FY 2015-16 Actual FY 2016-17 Budget FY 2016-17 Projection FY 2017-18 Proposed Difference Notes Office Supplies $14,508 $13,155 $11,704 $12,000 $12,000 $12,000 $0 Operating Supplies Motor Fuel Public Safety Supplies Subscriptions, Memberships, and Licenses $9,738 $11,163 $15,693 $0 $0 $0 Interfund Transfer Capital Projects and Purchases $208,827 $364,252 $1,341,900 $1,681,500 $775,000 $2,142,000 +$460,500 Flagler Street Owner's Rep, Flagler Street cleaning during construction period, new Transient dockage, new Barkpark, SMART Plan, Tri-rail commitment All Other Expenditures $2,508,177 $2,667,670 $2,381,020.45 $3,485,900 $3,336,116 $3,770,076 +$284,176 International Women's Conference, CRA DET team (part of Micellaneous income), Resiliency efforts, Special Program Funding for Quality of Life, Baywalk Activation Budget Reserve Expenditure Grand Total 5,773,123 $6,131,638 $7,236,893 $9,064,100 $7,908,706 $10,209,125 $1,145,025 $0 Revenues Minus Expenditures -$58,681 $113,613 -$393,439 -$1,255,374 -$880,853 -$1,252,442 $2,932 $0 Printed: 8/11/2017 11:34 AM Page 2 of 2