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Home My WebLink AboutBack-Up DocumentsBUSINESS IMII4OVF.MENT DISTRICT WYNWO00 2017-2018 Wynwood Business Improvement District Budget INCOME REV x.14,17 Approved FY17 et Projected Expenses Projected Expenses May- Sep 17 Total Projected 2017 _ income Proposed FY '18Income Budget CommentsBud BID Assessments $ 775,658 $ 555,701 $ 238,674 $ 794,375 $ 764,206 FY'l8: The expected collections is 95% of to the amount billed net of2% in regards to discounts and penalties ($820,428 will be billed in FY'18 -$16K net discounts/penalties) X 95% expected collections. CJefeined Collections $ 50,000 $ 19,294 $ 22,890 $ 42,184 $ 45,000 FY'18: Based on previous trends, the BID expects to collect next fiscal year: $25,000 from the tiscal year 2017 (Octll6-Sep/17), $10,000 from FY'16 (0c1/15-Sep/17), $5K from FY'15 (O0/l4-Sep/15), & $5K from FY'14 (Jan/ 14-Sep/ 14) Restricted - Parking Waivers $ $ $ 75 600 $ 75,600 $ 54.00U The BID is expected to generate approximately $60,000 in FY'18 (5 spaces @ $12K each). Budgeted Parking Waiver fees reflect net of 10% contribution to the Parking Waiver foist fund as required by City Ordinance 13556. 10% of FY'17 figure has been deducted and will be deposited into the Parking Trust Fund at the end of the fiscal year. Please note that parking waiver uses are restricted in nature. City of Miami ContributionofZika $ 247,500 $ 247,500 $ S 247,500 $ I Y'18 - No Zika grant expected. FY'17 - City of Miami provided a grant to the Wynwood BID due to the effects in 2016 totaling $247,500. Totallueumc: 5 1,073,158 $ 822,495 5 337,I64 5 1,159,659 $ 863,206 FY'17 - Estimated income $1,159,659 due to ZIKA grant totaling $247,500. FY'18 - Estimated income 5863,206. EXPENSES Expense Approved FY'17 Bud et $ Projected Expenses Oct/16-Apr/17 Projected Expenses May- Sep 17 "Total Projected 2017 Expenses , Proposed FY 18 Bud et g Comments Streetscape $ 20,000 $ $ 20,000 $ 20,000 $ EY'17 - rubber mulching expected to be installed along NW 2nd Ave to combat tripping issues. FY'18 no projects scheduled. Security $ 270,000 $ 260,950 $ 139,605 $ 400,555 $ 194,948 FY'17 - The BID averaged 200+ hours week, in May 2017 the weekly hours lowered to 162 per week & 40 per art walk. City of Miami Police increased their rate to $41.00 from $36/$37 avid year. In addition the BID must pay the City of Miami the Surcharge which is calculated at $4 per hour of each Off -Duty Officer. FY' 18 BID will fund 92 hours weekly, totaling $233K & ambassadors with rest. Sanitation $ 66,000 $ 61,722 $ 22,450 $ 84,172 $ 113,440 FY'17 - The Clean Team was increased from 4 to 8 team members to combat increase in debris. FY'18 - Clean Team will have (2) full time employees shifted from G&A to Clean Team budget via new cleaning contractor scheduled to be procured. Marketing & Advertising $ 135,000 $ 112,645 $ 90,000 $ 202,645 $ 158,000 FY'17: Overage due to Z.IKA initiatives that were facilitated during emergency period. FY'18 - Replacement Banners, web site Maintenance and other initiatives. G & A $ 342,470 $ 175,300 $ 119,917 $ 295,217 $ 385,200 In FY'17 the Development Director position was never created, thus $60K never spent. Executive Director currently makes $116,500, Office Rent ($23K), Insurance ($9k), office supplies, utilities. Bookkeeping services (36K) and annual audit (l OK). FY'18 - Calls for creation of Marketing position in addition to same expenses as FY'17. Capital Expenses $ - $ - $ - $ - $ 5,000 FY'18: New line item to take into account of capital expenditures, antenna system for ambassador program. Total Expenses $ 833,470 $ 610,617 5 391,972 $ 1,0(12,589 $ 856,588 FY"17 - Estimated expenses are forecasted at $1,002,589. FY'18 - Forecasted expenses totals $856,588. NET OPERATING INCOME Total: $ 239,688 $ 211,878 (54,808) $ 157,1170 $ 6,618 FY'17 - At the conclusion of FY'I7 the BDis forecasting a surplus of$157,070. FY'18 - The BID is forecasting a net operating income of $6,618, 1. ,1-t, N Wynwood Business Improvement District Streetscape Budget 2017-2018 Expense Approved FY'17 Budget Projecte d Expenses 10/1/16 to Projecte d Expenses 5/1/17 to 9/30/17 Total Projecte d 2017 Expenses Proposed FY'18 Budget Comments Mulching & Weeding $ 20,000 $ - $20,000 i $20,000 $ - FY'17 the funds are for sidewalk maintenance, mulching and weeding throughout the District. The BID is expected to install rubber mulching along NW 2nd Avenue to combat tripping issues on public right of way due to decaying tree beds. FY'18: Initiative is not scheduled to be funded Total: $ 20,000 $ - $20,0110 $20,000 $ - BUSINESS IMPROVEMENT StIPCi WVIYWOOD Wynwood Business Improvement District Marketing and Advertising Budget 2017-2018 Expense Approved FY'17 Budget Projected Expenses 10/1/16 to 4/30/17 Projected Expenses 5/1/17 to 9/30/17 Total Projected 2017 Expenses Proposed FY'18 Budget Comments Visitor Guides $ - $ - $ - $ - $ - Visitor Guides Printing & Production. Item discontinued for FY'18 PR Agency/Social Media/Website $ I00,000 $ 81,233 $ 80,000 $ 161,233 $ 70,000 FY'17 - Kivvit PR agency charges $5.000 per month, www.wynwoodmiami.corn was created and released during this fiscal year, GMCVB trips $3,375. FY' 18 - Budget forecast will be similar to expenses of FY' 17. Marketing initiatives $ $ $ $ $ 75,000 FY'18 - General marketing initiatives to be created by new BID marketing director scheduled to be hired. Advertising $ 35,00C1 $ 28,412 $ 10,000 $ 38,412 $ 10,000 FY`17 - Where by Us $30,000 in summer'17, AAA Flag $3,490, Herald Expansion $7,356, Fashion Night Out $7,650. Photographer $ - $ 3,000 $ - $ 3,000 $ 3,000 FY'17 - General Photography services. FY'I8 - Same forecast as FY'17 expected. Total: 8 135,000 8 112,645 $ 90,0011 $ 202,645 A $ 158,000 FY'17 - Expenses are due to Z1KA initiatives that were facilitated during infection period. FY'I8 expenses are forecasted at $123,000. I WYMWOOP BlISNESS IMPkO anvxcsvEnncni d.srkiCY Wynwood Business Improvement District Clean Team Budget 2017-2018 Expense Approved FY'17 Budget Projected Expenses 10/1/16 to 4/30/17 Projected' Expenses 5/1/17 to 9/30/17 Total Projected 2017 Expenses Proposed FY'18 Budget Comments Sanitation Contractors $ 60,000 $ 55,722 $ 21,450 $ 77,172 $ 1 13,440 FY ' 17 The BID Projects to spend 240 Hours a month on extra sanitation workers. Weekly expenses average $1,950 per week. The BID budgeted $60K in FY'17 but also had Clean Team Assistant ($25,000 Annual) and Clean Team Leader ($37,400 Annual) on G&A budget that will be transferred to Sanitation budget in FY'1$, thus reflected in increase. Sanitation Supplies (including uniforms) $ 6,000 $ 6,000 $ 1,000 $ 7,000 $ - Based on Previous Year Trends for Sanitation Supplies Total: 5 66,000 $ 61,722 $ 22,450 $ 84,172 5 113,440 — Wynwood Business Improvement District General & Administration Budget 2017-2018 Expense Approved FY'17 Budget Projected Expenses 10/1/16 to 4/30/17 Projected Expenses 5/1/17 to 9/30/17 Total Projected 2017 Expenses Proposed FY'18 Budget Comments BID Executive Director $ 117,000 $ 67,500 $ 45,000 $ 112,500 $ 116,500 FY'17 - Former ED employment package (Salary & Benefits) totaled $ 117,000, Manny Gonzalez, Executive Director since May 15, 2017 employment package totals $1 16,500, which consists of $1 10,500 salary, $6,000 Car/phone Allowance & $6,000 Health Insurance reflected below in Insurance line item. FY'18 - Executive Director Evaluation due at beginning of fiscal vear FY'l8 due to conclusion ofnrofessional Clean Team Supervisor $ 37,400 $ 21,600 $ 15,840 $ 37,440 $ service agreement. FY'17 - Clean Team supervisor works 40 hours a week x $18.00 per hour x 52 weeks. FY'18 - Clean Team supervisor services are now under Clean Team budget. Clean Team Assistant $ - $ - $ 9,600 $ 9,600 $ - FY'17 - Position Marketing/Development Directorintended $ 70,000 $ $ $ $ 6D 000 FY'17 - No hire was made on this potential position. FY'18 - Marketing Director/Business Development position to begin for new fiscal year Operations Coordinator $ $ $ $ $ 40,000 The creation of a projects coordinator position was requested by the Board of Direvtor s at the August 14, 2017 BID meeting with a compensation package totaling $40K. Contractor/Professional Services $ 36,000$ 11,595 $ 6,720 $ 18,315 $ 20,000 FYI 7 - Professional Services assistance, Gaby Maury works 32 hours weekly at $10.00 p/h. $310 weekly. CCSG assessment assistance $3,300 and Akerman $5,131. FY'18 - Expenses reflect professional services totaling $20,000 and expansion assistance. Payroll Taxes, FICA $ 5,502 $ 3,930 $ 9,432 $ 10,500 FY' 17 - the average payroll taxes per month are $786 per month. FY'18 - the budget forecasted reflects the total of the previous year. Petty Cash $ - $ 1,266 $ - $ 1,266 $ - Petty Cash will be phased out in FY'18. Health Insurance $ - $ 1,380 $ 1,380 $ 5,800 FY'] 7 - Manny Gonzalez Executive Director health insurance package averages $460 per month. Licenses Fees & Dues $ 500 $ 3,923 $ 2,802 $ 6,725 $ 7,000 Annual Registration Fees, etc. Office Utilities $ 2,400 $ 1,174 $ 1,200 $ 2,374 $ 2,400FY'17 - Comcast monthly services total $152 per month, Crystal Springs water $300 FY' 18 expenses are expected to be the same as FY'17. Office Equipment & Supplies $ 1 500 $ 4,292 $ 1,500 $ 5,792 $ 5,000 FYI 7 - Office Depot orders. Media TV purchase totaling $2,244, plus installment fee. Fy'18 - Budget increase reflects needs for efficient office operations., copier $139.00 per month, $1668 yearly. Office Rent $ 23,488 $ 15,564 $ 9,830 $ 25,394 $ 58,000 FY' 17 - Office rent is currently $1,966 per month, well below market value, lease scheduled to end at conclusion of fiscal year. FY'18 - Office rent is expected to increase due to the market rent quotations we have received prior to moving due to end of lease. Insurance $ 9,182 $ 7,492 $ 4,615 $ 12,107 $ 12,000 FY'17 - Insurance Liability Monthly Premium increased from $765 to $923 in FY'17, Unexpected expense for $2,291 occurred in January 2017. FY'I 8 - Insurance premium monthly is expected at $923 monthly. Bookkeeping $ 36,000 $ 21,000 $ 15,000 $ 36,000 $ 36,000 Based on Agreement in place through 2017-2018. Monthly costs associated with assessment collection, auditing preparation & bookkeeping services at $3,000 monthly. Meeting, Conventions, Miscdues $ - $ 5,392 $ 2.500 $ 7,892 $ 2,000 FY' 17 - Expenses associated with lunch meetings, IDA membership dues $1000, Fl. Dept of Eco dues $200, Yearly MDGLCC totaling $1,295, reimbursements Annual Audit $ 9,000 $ 9,000 $ - $ 9,000 $ 10,000 FYI8 - Annual agreement services conducted are at a cost of $9,000 per year. Total: $ 342,470 $ 175,300 ' $ 119,917 $ 295,217 $ 385,200 II I Wynwood Business Improvement District Security Budget 2017-2018 Expense Approved FY' 17 Budget Projected Expenses10/1/16 to4/30/17 Projected Expenses 5/1/17 to 9/30/17 Total Projected 2017 Expenses Proposed PS ' 18 Budget Comments Police Off -Duty Services $ 270,000 $ 260,950 $ 139,605 $ 400,555 $ 158,168 FY'17: The BID averaged 220+ hours weekly, and experienced a rate increase to $40/$41 versus $36/$37. The ZIKA grant allowed for the BID to expand off duty police services this current fiscal year.FY'18: Off Duty Police to work about 96 hours weekly, $3,041 weekly, in tandem with security ambassador services, 7 day a week coverage. Security Ambassador Program $ - $ - $ - $ - $ 36,780 Potential pilot program to be implemented in FY'18. Total: $ 270,000 $ 260,950 8 139,605 $ 400,555 $ 194,948 4, IBUSMESS €MPROVEMENT D STRiCT Wynwood Business Improvement District Capital Budget 2017-2018 Expense Approved FY'17 Budget Projected Expenses 10/1116 to 4/30/17 Projected Expenses 5/I/17 to 9/30/17 Total Projected 2017 Expenses Proposed , FY 18 Budget Comments Signage/Wayfindin T7 $ - $ - $ - $ - $ - Wayfinding and signage for Wynwood BID District CCTV Network $ - $ - $ - $ - $ - Security camera network for District Antenna/Security Radio Network $ - $ - $ - $ - $ 5,000 Security/Clean team antenna for radio network Total: $ - $ - $ - $ - $ 5,000