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HomeMy WebLinkAboutExhibitMiami Parking Authority (Department of Off -Street Parking) Proposed Operating Budget Fiscal Year 2018-19 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors July 30, 2018) MIAMI PARKING A UTHORIT Y Schedule of Revenue and Expenses Proposed FY 2019 Operating Budget Operating Revenue Off -Street Facilities Parking Lots On -Street Management Fees Other Total Operating Revenue Operating Expenses Salaries. Wages & Fringe Benefits Repairs, Maintenance, Cleaning & Landscape Security Utilities Insurance Assessment Expenses Rental - Building/Land Revenue Sharing Parking Meter Parts & Installation Legal and Professional Bank Charges Supplies & Miscellaneous Other Expenses Advertising & Promotion Total Operating Expenses Operating Results Before Depr & Amort Depreciation & Amortization Operating Results Non -Operating Revenues (Expenses): Interest Income Gain (Loss) on Disposal Property Interest Expenses Excess Revenue Distribution to City Budgeted Reserves Total Non -Operating Net Revenue In Excess of Expenses FY 2017 FY 2018 FY 2019 Actual Approved Budget Proposed Budget 5,028,186 8,136,278 17,208,835 1,329,670 414,687 4,956,752 8,620,098 16,735,600 1,294,444 395,000 5,541,265 9,733,337 25,002,269 1,285,809 462,500 32,117,656 32,001,894 42,025,180 7,475,084 1,731,395 977,815 593,730 585,572 491,058 1,069,277 883.314 49,665 1,020,888 1,972,326 212,847 155,513 410,970 7,895,123 1,410,651 857,034 591,305 496,387 454,815 1,069,139 617,241 70,500 1,050,710 2,187,000 247,750 204,306 443,500 9,115,589 1,518,140 802,800 561,747 561,759 454,815 962,828 1,029,572 43,000 1,020,756 2,188,414 273,850 203,506 443,500 17,629,454 17,595,461 19,180,276 14,488,202 (2,673,315) 14,406,433 22,844,404 (2,921,070) (2,921,070) 11,814,887 11,485,363 19,923,834 108,052 (20,674) (2,924,458) (7,700,000) (10,537,080) 10,000 (3,320,417) (7,200,000) (300,000) (10,810,417) 10,000 (4,562.433) (14,491,401) (528,000) (19,571.834) 1,277,807 674,946 352,000 Requested Budget 2019 vs. FY 2017 Actual Budget 2018 Increase/(Decrease) 513,079 1,597,059 7,793,434 (43,861) 47,813 584,513 1,113,239 8,266,669 (8,635) 67,500 9,907,524 10,023,286 1,640,505 (213,255) (175,015) (31,983) (23,813) (36,243) (106,449) 146,258 (6,665) (132) 216,088 61,003 47,993 32,530 1,220.466 107,489 (54,234) (29,558) 65,372 (106,311) 412,331 (27,500) (29,954) 1,414 26,100 (800) 1,550,822 1,584,815 8,356,702 8,438,471 (247,755) 8,108,947 8,438,471 (98,052) 20,674 (1,637,975) (6,791,401) (528,000) (9,034.754) (1,242,016) (7,291,401) (228,000) (8,761,417) (925,807) (322,946) Requested Budget 2019 vs. FY 2017 Actual Budget 2018 Increase/(Decrease) 10.20 19.63 45.29 (3.30) 11.53 11.79 12.91 49.40 (0.67) 17,09 30.85 31.32 21.95 (12.32) (17.90) (5.39) (4.07) (7.38) (9.96) 16.56 (13.42) (0.01) 10,96 28.66 30.86 7.92 15.46 7.62 (6.33) (5.00) 13.17 (9.94) 66.80 (39.01) (2.85) 0.06 10.53 (0.39) 8.80 9.01 57.68 58.57 9.27 68.63 73.47 (90.75) (100.00) 56.01 88.20 #DEMO! #DIV/01 37.41 101.27 76.00 85.74 81.05 (72.45) (47.85) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2019 Operating Budget FY 2017 FY 2018 FY 2019 Requested Budget 2019 Requested Budget 2019 Approved Proposed vs. vs. Actual Budget Budget FY 2017 Actual Budget 2018 FY 2017 Actual Budget 2018 S S 8 Increasef(Decrease) Increasef(Decrease) Operating Revenue' Off -Street Facilities 5,028,186 4,956,752 5,541,265 513,079 584,513 10.20 11.79 Parking Lots 8,136,278 8,620,058 9,733,337 1,557,059 I,113,239 19.63 12.91 On -Street 17,208,835 16,735,600 25.002.269 7,793,434 8,266,669 4529 4940 Management Fees 1,329,670 1,294,444 1,285,809 (43,861) (8,635) (3.. 30) (0.67) Other 414,687 395000 462,500 47,813 67,500 11.53 17,09 Total Operating Revenue 32,117,656 32,001,894 42,025,180 9,907,524 10,023,286 30,85 31-32 Operating Expenses Salaries, Wages & Fringe Benefits Salaries -Regular 5,409,929 6,223,456 7,192,909 1,782,980 969,453 32.96 15.58 Salaries - Overtime 189,232 (189,232) (100.00) Salaries - Sick&Vacation 432,887 403,786 439,326 6,439 35,540 149 8.80 Social Security 365,589 398,091 421,553 55,964 23,462 I5.31 5.89 Health Insurance 394,024 357,195 357,225 (36,799) 30 (9.34) 0.01 Retirement 505,025 349,023 535,615 30,590 186,592 6.06 53.46 Benefits - (Auto, LTD, STD) 149,510 163,572 168,961 19,451 5,389 13.01 3.29 Tuition 17,258 - (17,258) (100.00) Miscellaneous Pay 11,630 (11,630) (100.00) 7,475 084 7,895,123 9,115,589 1,640,505 1,220,466 2195 15.46 Repairs. Maintenance, Cleaning & Landscape Maintenance -Property 327,514 171,400 204,200 (123,314) 32,800 (37.65) 1914 Maintenance -Landscaping 367,129 227.722 252,788 (114,341) 25,066 (31.14) 11.01 Maintenance - Elevators 48,036 47,000 35,000 (I3036) (12,000) (27.14) (25.53) Maintenance - A/C 20,276 19,600 22,500 2,224 2,900 10.97 14.80 Maintenance - Computers 68,421 81,750 89,500 21,079 7,750 30.81 9.48 Maintenance- Garage Equipment 179,319 86,170 106,120 (73,199) 19,950 (40.82) 23.15 Maintenance - Alarms 11,481 18,900 15000 3,519 (3,900) 30.65 (20.63) Maintenance- TV Surveillance 18,771 18.000 17,000 (1,771) (1,000) (9.43) (5.56) Repairs - Equipment 13,472 18,600 18,500 5,028 (100) 37.32 (0.54) Motor Pool 162,423 217,900 281,879 119,456 63,979 73.55 29.36 Cleaning & Housekeeping Supplies 298,863 258,908 320,053 21,190 61,145 7.09 23.62 Expendable Tools 2,576 3,000 424 3,000 16.46 Clothing 36,857 52,200 58,800 21,943 6,600 59.54 1264 Signs 89,257 115,001 15,800 (73,457) (99,201) (82.30) (86.26) Small Equipment 72,215 74,000 74,000 1,785 2.47 Maintenance - Other 14785 3,500 4.000 (10,785) 500 (72.95) 14.29 Cleaning Security Armored Car Services 1,731 395 1,410,651 1,518,140 (213,255) 107,489 (12.32) 7.62 961,927 841,534 784,800 (177,127) (56,734) (18.41) (6.74) 15,888 15,500 18,000 2,112 2,500 13.29 16.13 977,815 857,034 802,800 (175,015) (54,234) (1790) (6.33) Utilities Telephone 218,776 256,500 240,900 22,124 (15,600) 10.1 1 (6.08) Light & Power 330,051 293,998 286,392 (43,659) (7,606) (13.23) (2.59) Water 44,903 40,807 34,455 (10,448) (6,352) (23.27) (15,57) 593,730 591,305 561,747 (31,983) (29,558) (5.39) (5.00) Insurance Property & Gen Liability Insurance Workers Compensation insurance 564,695 418,348 468,278 (96,417) 49,930 (17.07) 11.94 20,877 78,039 93,481 72,604 15,442 347.77 19.79 585,572 496,387 561,759 (23,813) 65,372 (4.07) 13.17 Assessment Expenses Assessment Expenses - Repairs&Maintenance 152,802 117,670 117,670 (35,132) - (22.99) Assessment Expenses -Utilities 8,039 5,408 5,408 (2,631) - (32,73) Assessment Expenses- Office Supplies 4,287 3,986 3,986 (301) (7.02) Assessment Expenses - Management Fee 41,550 41,567 41,567 17 - 0.04 Assessment Expenses - Insurance 195,096 196,184 196,184 1,088 - 0.56 Assessment Expenses - Security 89,284 90,000 90,000 716 0.80 491,058 454,815 454,815 (36,243) (7.38) Rental - BuitdinulLand Rental- Building/Land 1,069,277 1069,139 962,828 (106,449) (106,311) (9.96) (9.94) Revenue Sharing Revenue Sharing 883,314 617,241 1,029,572 146,258 412,331 1656 66,80 MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2019 Operating Budget Parkine Meter Parts & Installation Equipment Rental Parking Meter Parts & Installation FY 2017 FY 2018 FY 2019 Requested Budget 2019 Requested Budget 2019 Approved Proposed vs. vs. Actual Budget Budget FY 2017 Actual Budget 2018 FY 2017 Actual Budget 2018 $ $ $ Increase/(Decrease) Increase/(Decrease) 22,326 27,500 18,000 (4,326) (9,500) (19.38) (34.55) 13,231 43,000 25,000 11,769 (18,000) 38,95 (41.86) 35,557 70,500 43,000 7,443 (27,500) 20.93 (39.011 Legal and Professional Property Surveys, Planing - 6,000 6,000 6,000 Legal Services 112,733 117,624 117,624 4,891 Trustee Fees 10,000 25,000 25,000 15,000 Audit Fees 135,912 140,600 140,000 4,088 Other Consultants 762,243 762,086 732,132 (30,1II) (29,954) 1,020,888 1,050,710 1,020,756 (132) (29,954) 4.34 150.00 - 3.01 (3 95) (3.93) (0.01) (2.85) Bank Charges Bank Charges 1,972,326 2,187,000 2,188,414 216,088 1,414 10.96 0.06 Supplies & Miscellaneous Postage & Conner Services 6,592 6,900 6,700 108 (200) 1.64 (2.90) Printing 69,600 69,150 89,850 20,250 20,700 29.09 29.93 Office Supplies 24,367 27,800 27,100 2,733 (700) 11.22 (2.52) Office Equipment 43,473 26,900 26,500 (16,973) (400) (39.04) (1.49) Computer Supplies 1.500 6,500 6,500 5,000 - 333.33 Computer Software 68,815 115,500 117,200 48,385 1,700 70.31 1.47 212,847 247,750 273,850 61,003 26,100 28.66 10,53 Other Expenses Property Taxes 38,120 56,136 56,136 18,016 47.26 Licenses & Permits 30,989 950 950 (30,039) - (96.93) Miscellaneous 13,945 13,600 13,600 (345) (2.47) Entertainment Travel 7,820 14,500 16,602 8,782 2,102 11230 14.50 Training 5,982 38,000 40,000 34,018 2,000 568,67 5.26 Meetings and Conventions 40,115 56,650 51,843 11,728 (4,807) 29,24 (8.49) Cashier- Overagei(Shortage) (101) 101 - (100,00) Parking Refunds - - - Uncotlectibie Accounts Publications 70 1000 1,000 930 1,328.57 - Membership Dues 18.573 23,470 23,375 4,802 (95) 25.85 (0.40) Claims Settlement - - Bad Debt Expense Penalties & Interest 155,513 204,306 203,506 47,993 (800) 30.86 (0.39) Advertising & Promotion Promotional 7,449 52,500 52,500 45,051 604.79 Public Relations 300,125 240,000 240,000 (60,125) - (20,03) Advertising 103,397 151000 151,000 47,603 - 46.04 410,971 443,500 443,500 32,529 7.92 Total Operating Expenses 17,615,347 17,595,461 19,180,276 1,564,929 1,584,815 8.88 9.01 Operating Remelts Before Depr & Amor Depreciation & Amortization Operating Remelts 14,502,309 14,406,433 22,844,904 8,342,595 8,438,471 57.53 58.57 (2,673,315) (2,921,070) (2,921,07(3) (247,755) 9.27 11,828,994 11,485,363 19,923,834 83194,840 8,438,471 68.43 73,47 Non -Operating Revenues (Expenses): Interest Income 108,052 10,000 10.000 (98,052) (90.75) Crain (Loss) on Disposal Property (20,674) 20,674 (100.00) Interest Expenses (2,924,458) (3,320,417) (4,562,433) (1,637,975) (1,242,016) 56.0I 37.41 Excess Revenue Distribution to City (7,700,000) (7,200,000) (14,491,401) (6,791,401) (7,291,4011 88.20 101.27 Budgeted Reserves (300,000) (528,000) (528,000) (228,000) 76.00 Toad/Yon-Operating (10,537,080) (10,810,417) (19,571,834) (9,034,754) (8,761.417) 85.74 81.05 Net Revenue In Excess of Expenses 1,291,914 674,946 352,000 (939,914) (322,946) (72.751 (47.85) MIAMI PARKING AUTHORITY Schedule of Revenues and Expenses Proposed FY 2019 Operating Budget — Line Item Descriptions Description of Line items: Operating Revenue Off -Street Facilities - Revenue collected at parking garages, including daily customer revenue, monthly cardholder revenue and revenue derived from special events Parking Lots — Revenue collected at parking lots, including daily customer revenue, monthly decal -holder revenue and revenue derived from special events / rental of lots On -Street — Revenue collected from single space and Pay and Display meters located on -street as well as revenue derived from rental of metered spaces (production events, valet, etc) Management Fees — Fees charged to third parties (i.e. Miami -Dade County, Florida FDOT and City of Miami) for the administration of various parking / non -parking facilities Other — Majority of line item represents fees remitted by towing companies that assist in towing illegally parked vehicles from parking facilities / on -street spaces Operating Expenses Salaries, Wages & Fringe Benefits Salaries — Regular - Base salaries for all full time / part-time Authority personnel Salaries — Overtime — Overtime funds paid to hourly personnel Salaries — Sick & Vacation — Sick and vacation time for full-time Authority personnel Social Security — Social security taxes paid to the federal government for Authority personnel Health Insurance — Insurance premiums paid by MPA for full-time Authority personnel Retirement — Employer portion of annual pension obligation paid to the MPA's pension plan for full-time Authority personnel Other Benefits Insurance premiums paid by MPA on behalf of full-time administrative and operations personnel for auto, short-term disability and long term disability Page 1 of 6 Tuition — MPA provides educational assistance for regular full-time employees who have completed 365 calendar days of service in an eligible employment classification. The amount of assistance paid by the Agency is 100% of tuition costs up to a maximum of $3,000 in a calendar year providing the employee earns grade of "C" or better Miscellaneous Pay — Payment for the use of temporary labor for special events and special employee assignments Repairs, Maintenance, Cleaning & Landscape Maintenance — Property — Contractual expenses incurred in connection with the maintenance of parking facility structural components, excluding items detailed below Maintenance — Landscaping — Contractual expenses incurred in connection with the maintenance of parking facility landscaping Maintenance — Elevators — Contractual expenses incurred in connection with the maintenance of parking facility elevators Maintenance — AJC — Contractual expenses incurred in connection with the maintenance of parking facility, operations and administrative office air conditioning units Maintenance — Computers — Contractual expenses incurred in connection with the maintenance of parking facility / administrative office computer equipment Maintenance — Garage Equipment — Contractual expenses incurred in connection with the maintenance of parking facility revenue control equipment Maintenance — Alarms — Contractual expenses incurred in connection with the maintenance of parking facility revenue alarm / security systems Maintenance — TV Surveillance — Contractual expenses incurred in connection with the maintenance of TV surveillance cameras located in garage facilities Repairs — Equipment — Non -contractual repairs associated with parking facilities Motor Pool — Expenditures associated with Agency vehicles including gas, repairs and lease payments for leased Agency vehicles Cleaning / Cleaning & Housekeeping Supplies — Contractual expenses and cleaning supplies purchases for the maintenance of parking facilities / administrative offices Expendable Tools / Small Equipment - Maintenance tools and maintenance / office equipment purchases that do not exceed $1,000 and therefore are not considered a capital asset Page 2 of 6 Clothing — Uniforms for operations personnel Signs — Maintenance and purchase of signage for both off-street and on -street parking facilities Maintenance — Other Annual contractual maintenance fee incurred for Authority telephone system Security Security — Contractual expenses incurred for security personnel who perform surveillance of parking facilities Armored Car Services — Brinks services for the pickup of cash at specified locations Utilities Telephone -- Expenses paid to telephone carriers for the usage of telephone lines and cellular phone lines (i.e. AT&T, Sprint) Light & Power — Electricity expense for all parking facilities / administrative offices (FPL) Water — Water expense for all parking facilities / administrative offices (Miami -Dade Water and Sewer) Insurance Property and General Liability Insurance — Insurance premiums related to property, general liability, and directors and officers liability coverage Workers Compensation Insurance — Workers compensation premiums for Authority personnel Rental — Buildinji /Land Rental Building/Land — Fixed, contractual lease payments paid for the rental of parking lots managed and not owned by the Authority Assessment Expenses Assessment Expenses The expenses for the Courthouse Center Garage condos that are accumulated and paid to the condo association. The items in this category include but are not limited to: repairs and maintenance, utilities, office supplies, management fees, property insurance and security Page 3 of 6 Revenue Sharing Revenue Sharing — Payments made to lessors of parking lots that are managed by the Authority. These payments are based on a % of either gross or net revenue derived by the parking lot Parking Meter Parts & Installation Equipment Rental — Rental of golf carts for security personnel to roam facilities, rental of office copiers Parking Meter Parts & Installation — Purchases of parking meter supplies / parts to replace defective parking meter equipment Legal and Professional Property Surveys, Platting — Expenditures incurred related to property surveys and platting of prospective parking facility acquisitions Legal Services — Legal fees paid to City of Miami for City Attorney services Trustee Fees - Fees paid to Trustee of Authority bonds Audit Fees — Fees paid in connection with the annual audit of the Authority's financial records Pay and Display Fees Service contract fees paid to parking meter vendors, parking consultants, payroll processing fees, website redesign fees, rating agency fees in connection with the Authority's bonds Bank Cliarjies Bank Charges — Bank fees and credit card processing charges associated with the Authority's parking facilities Supplies and Miscellaneous Postage & Courier Services — Postage expense for Authority's mailings Printing — Printing of tickets and decals for parking facilities and customer service pamphlets Office Supplies — Desk supplies (i.e. paper) for all Authority facilities / administrative offices Office Equipment — Office equipment purchases that do not meet threshold for capitalization Page 4 of 6 Computer Supplies — Computer supply purchases for all Authority facilities / administrative offices Computer Software — Computer software purchases for all Authority facilities / administrative offices Other Expenses Licenses & Permits - Miscellaneous Iicenses and fees Miscellaneous — Payment for medical exams and back ground check for employees (new hire and worker comp cases) and mystery shopper program Travel - Business travel expenses incurred for parking related conferences Training -Training expenses for all employees Meetings and Conventions - Business meeting expenses for all employees Publications — Miscellaneous business publication subscriptions Membership dues — Membership dues for various parking related organizations and professional associations Advertising & Promotion Promotional — Promotional materials distributed to customers at special events / customer appreciation week Public Relations -- Contractual expenditures related to public relations consultant services and sponsorships of various charities and non-profit organizations Advertising — Media advertising expenses (i.e. radio, television, and printed media) Page 5 of 6 Non -Operating Revenues / (Expenses) Depreciation & Amortization — Depreciation related to parking facilities, including building and structures, leasehold improvements, furniture and fixtures, and parking equipment Interest Income — Interest and gain/losses on Authority investments Interest Expenses — Interest expenses and amortization of bond issuance costs incurred in connection with the Authority's bond issue. Excess Revenue Distribution to the City of Miami — Operating revenues in excess of: (a) operating expenses; (b) debt service payments; and (c) renewal and replacement capital requirements and reserves for working capital needs. Budgeted Reserves — Funds that are based on sound fiscal principles designed to allow the Authority to maintain continuity of operations in adverse conditions while being mindful of our fiduciary reasonability to residents and visitors, both current and future generations. Page 6 of 6