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HomeMy WebLinkAboutExhibitBUDGETSUMMARY The Downtown Development Authority ofthe City ofMiami, Florida Fiscal Year 2018-2019 THE PROPOSED OPERATING BUDGET EXPENDITURES OPTHE DOWNTOWN DEVELOPMENT AUTHORITY OFTHE CITY OFMkAM|ARE 1.9%LESS THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES Revenue Sources AdValorem Tax Levy Other Revenue Total Sources Fund Bala nces/Rosenms Total Revenues and Balances Operating Expenditures Leadership, Advocacy &Ciperations Business Development &Marketing Arts, Culture & Entertainment U/banP|acemaWng Transit, Connectivity &Mobility Quality ofLife Total Operating Expenditures GENERALFUK0 9,120,000 100,000 9,220,000 3,216,000 12,436,000 l'34lO0O 2,2SS'000 I'll7,000 2,176,000 S8O'OOO 2,605,000 10,073,000 Fund Balances/Reserves 2'363'000 Total Expenditures, Reserves and Balances 12,436,000 Downtown Development Authority of the City of Miami Budget Template FY 2018-19 Proposed Budget FY 2014-15 FY 2015-16 FY 2016-17 Actual FY 2017-18 Sudget] FY 2017-18 Projection) FY 2018-19 Proposed Difference Notes Number of Full -Time Positions 25 25 27 28 28 28 0 Are any positions funded in other budgets? No Revenues ---------- - ----- Ad Valorem Taxes $6,119,167 $6,612,767 $7,274,524 $8,930,000 $8,088,348 $9,120,000 +$190,000 Based on proposed millage Grant monies $0 $156,400 $75,000 $100,000 $100,000 $100,000 $0 Other 5126,084 $74,287 $176,980 50 $0 $0 $0 Revenue Grand Total $6,245,251 $6,843,454 $7,526,504 $9,030,000 $8,188,348 $9,220,000 $190,000 Expenditures Regular Salary and Wages $1,606,737 $1,895,238 $2,082,346 $2,232,091 $2,232,092 52,344,016 +$111,925 Merit increase Fringe Benefits $2,000 $2,000 $2,000 $2,000 $2,000 $2,000 $0 ' FICA Taxes $115,912 $137,795 $151,212 5170,646 $179,317 5179,317 +$8,671 Directly cooresponds to salaries Retirement Contributions $109,132 $125,588 5139,547 $155,111 $155,111 $164,081 +58,970 Directly cooresponds to salaries Life and Health Insurance $268,300 $294,174 $274,650 5391,272 $391,272 $503,261 +$111,989 Estimated insurance cost in FY1819 Workers' Compensation $16,131 $10,311 59,677 $17,200 $17,200 $18,000 +5800 Renewals Professional Services - Legal $48,867 $34,796 $30,000 $30,000 $30,000 530,000 $0 Professional Services $136,871 $140,867 $160,161 $285,000 $245,000 $170,000, -$115,000 Changing approach of professionals used in FY1819 Accounting and Auditing $25,000 $22,000 $22,000 $24,000 $22,000 $25,500 +$1,500 Estimated contract amt in FY1819 Other Contractual Services $84,274 $107,310 575,106 $127,000 $112,000 $132,000 +$5,000 Renewals Travel and Per Diem $9,914 $29,495 $54,500 555,000 $55,000 $55,000 50 Communications and Related Services 5244,930 $277,286 $152,941 $195,883 $193,911 $197,200 +$1,317 Renewals Postage $1,864 $2,513 $4,176 $3,000 53,000', 53000 50 Utility 50 $0 $0 $0 $0 50 50 Rentals and Leases $225,120 5232,056 5238,674 $265,256 5255,311 $293,600 +$28,344 Based on contract price Repair and Maintenance Services 53,910 53,675 $5,944 $5,000 $5,000 $5,000 $0 Printing and Binding $16,216 $17,378 515,835 520,000 $20,000' 520,000 50 Advertising and Related Costs $160,220 $154,093 $143,434 $170,000 $162,000' $177,000 +$7,000 Renewals Office Supplies $13,155 $11,704 $13,425 $12,000 $12,000' $12,000 $0 Operating Supplies $0 $0 $0 $0 $0 $0 $0 Motor Fuel $0 $0 $0 $0 $0I $0 50 Public Safety Supplies 50 $0 $0 50 $0 50 $0 Subscriptions, Memberships, and Licenses 511,163 515,693 $13,931 515,000 515,000 515,000 $0 Interfund Transfer $0 $0 $0 $0 50 $0 50 Capital Projects and Purchases $364,252 $1,341,900 $668,261 $2,132,000 $1,399,000 $1,770,000 -$362,000 Tri-rail's final payment in FY1718 All Other Expenditures $2,667,670 $2,381,021 $2,659,068, $3,961,665 53,318,372 $3,953,600 -$8,065 Budget Reserve $0 $0 $0' $0 $0 50 $0 Expenditure Grand Total $6,131,638 $7,236,893 $6,916,888', $10,269,124 $8,824,586 $10,069,575 -$199,549 Revenues Minus Expenditures Printed: 7/30/2018 12:18 PM $113,613 -$393,439 9,124 -$636,2 -$849,575] $389,549 Page 1 of 1