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Home My WebLink AboutExhibit SUBWynwood Business Improvement District "BID" City of Miami Budget FY' 18 WYN WOOD BUSINESS IMPROVEMENT DISTRICT REV 9.13.17 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 BID Assessments $ - $ 676,011 $ 742,080 $ 775,658 $ 794,375 $ 764,206 $ (11,452) Expected collections are 95%ofamount billed Collections Deferred $ - $ - $ 36,710 $ 50,000 $ 42,184 $ 45,000 $ (5,000) collection ofoutstanding folio assessments Parking Waivers - Restricted $ - $ - $ - $ - $ 75,600 $ 54,000 $ 54,000 New parking waiver fiurdsthat came infor the first time in FY' 17 and forecasted for FY' 1 R City of Miami Contribution $ - $ 369,789 $ - $ 247,500 $ 247,500 $ (193,500) ZIKAcon1nbutioninFY'f7,not expected FY'1R Income Grand Total $ - $ 1,045,800 $ 778,790 $ 1,073,158 $ 1,159,659 $ 863,206 $ (155,952) NoZikagrant expected inFY'I8 Expenditures Regular Salary and Wages $ - $ 130,000 $ 153,000 $ 224,400 $ 159,540 $ 216,500 $ (7,900) At conclusion of FY' 17 ('_) Clean Team Personnel hr gs1Ea ($n6,5w) &MKT (sin FV1 ,,now & Operations Coordinator ($4OK) in O&A budget. FICA Taxes $ - $ - $ - $ - $ 9,432 $ 10,500 $ 10,500 FICA forecasts &projections are newly tracked Health Insurance $ - $ - $ - $ - $ 1,380 $ 5,800 $ 5,800 Health Insurance expenditure forecast and projection newly tracked Professional Services $ - $ 100,000 $ 56,500 $ - $ - $ - $ - No finding for FY''18 Bookkeeping & Auditing $ - $ - $ - $ 45,000 $ 43,892 $ 46,000 $ 1,000 Bookkeeping emcet$36Kyearly and Ault $1OK Other Contractual Services $ - $ 266,000 $ 289,107 $ 36,000 $ 18,315 $ 20,000 $ (16,000) Office assistant curre„tlkmakes $10p/h-$310 weekly Travel and Per Diem $ - $ - $ - $ - $ 7,892 $ 2,000 $ 2,000 IDA Conference and various reimbursements related to ZIKA & other yearly initiatives Office Supplies, Utilities, Equipment $ - $ 19,000 $ 3,246 $ 3,900 $ 8,166 $ 7,400 $ 3,500 Office depot, copier, water, postage, supplies, phones Office Rent $ - $ 22,000 $ 24,658 $ 23,488 $ 25,934 $ 58,000 $ 34,512 BID required to move inFY'1R. Market mtohas doubled thus we are asking for more finding in case D&O Insurance, Workman's Comp $ - $ - $ - $ 9,182 $ 12,107 $ 12,000 $ 2,818 D&OInsurance &Worlmnan'aComp Licenses, Fees, Dues - NEW $ - $ - $ - $ 500 $ 6,725 $ 7,000 $ 6,500 Required licensing &county, Federal, State dues Advertisement & Marketing Initiatives $ - $ 200,000 $ 92,317 $ 135,000 $ 202,645 $ 158,000 $ 23,000 „n,Metescnogom;ngaAnew; ge ;nedr �� c&n nri,eget Mulching & Weeding Initiatives - NFW $ $ $ $ 20,000 $ 20,000 $ $ (20,000) Rubber mulching to be installed along 2nd Ave. No finding for FY'1R Police Off Duty Services $ - $ - $ - $ 270,000 $ 400,555 $ 158,168 $ (111,832) Off Duty Services acrea frkom ° weekly to94 Security Ambassador Program - Pilot Pi $ $ $ $ $ $ 36,780 $ 36,780 New ambassador security pilot program to begin in FY'IR Clean Team Services - NEW $ - $ - $ - $ 60,000 $ 77,172 $ 113,440 $ 53,440 (2) Clean Team employees ($37K+2K) will be shifted ftom 0&A in FY'18 & will join the other (6) contracted employees working now Clean Team Supplies - NEW $ - $ - $ - $ 6,000 $ 7,000 $ - $ (6,000) Supplies now tobeprovided bycontractor inFY'IR Capital Projects and Purchases - NEW $ - $ - $ - $ - $ - $ 5,000 $ 5,000 Antenna service for ambassador= anndclean team All Other Expenditures $ - $ 172,000 $ 82,865 $ - $ 1,834 $ - $ - Reserves $ - $ - $ - $ - $ - $ 6,618 $ 6,618 Reserves as per Commission Meetingmumenmuent on September 19, 2017. Expenditure Grand Total $ - $ 909,000 $ 701,693 $ 833,470 $ 1,002,589 $ 863,206 $ 29,736 Revenue Minus Expenditures $ 136,800 $ 77,097 $ 239,688 $ 157,070 $ (185,688) The BID is forecasted to have $6,618 in surplus at the conclusion of the fiscal year. Printed: 11/13/2017 10:26 AM Page 1 of 1