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Home My WebLink AboutExhibitSEOPW GENERAL OPERATING TAX INCREMENT FUND BUDGET FY 2019 PROPOSED BUDGET FY 2018 AMENDED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT (ORIGINAL BOUNDARIES) $10,404,085 $10,374,855 $29,230 MIAMI DADE COUNTY -TAX INCREMENT (ORIGINAL BOUNDARIES) $6,403,132 $6,515,446 -$112,314 CITY OF MIAMI -TAX INCREMENT (EXPANDED BOUNDARIES) $660,858 $642,758 $18,100 MIAMI DADE COUNTY -TAX INCREMENT (EXPANDED BOUNDARIES) $406,973 $404,683 $2,290 CITY OF MIAMI - TAX INCREMENT (PARK WEST ADDITION) $634,793 $413,185 $221,608 MIAMI DADE COUNTY - TAX INCREMENT (PARK WEST ADDITION) $390,916 $261,143 $129,773 CONTRIBUTION FROM THE CHILDREN TRUST FUND $758,074 $758,074 $0 PROCEEDS OF SALE OF BLOCK SS (ESTIMATE) $12,000,000 $12,000,000 $0 2018 ESTIMATED FUND BALANCE $24,138,721 $24,593,235 -$454,514 TOTAL REVENUE $55,797,552 $55,963,379 ($165,827) REDEVELOPMENT EXPENDITURES PROFESSIONAL SERVICES - LEGAL $499,529 $457,865 $41,664 ACCOUNTING AND AUDIT $31,000 $6,850 $24,150 PROFESSIONAL SERVICES - OTHER $2,093,085 $1,798,645 $294,44() OTHER CONTRACTUAL SERVICES $927,415 $550,605 $376,810 DEBT SERVICE PAYMENT $4,518,625 $4,521,875 -$3,250 INTERFUND TRANSFER (Grant) $12,126,045 $10,796,129 $1,329,915 LAND $292,984 $292,984 $0 CONSTRUCTION IN PROGRESS $306,077 $310,157 -$4,080 OTHER GRANTS AND AIDS $31,898,210 $34,225,943 -52,327,733 TOTAL REDEVELOPMENT EXPENDITURES $52,692,971 $52,961,055 ($268,084) REGULAR SALARIES $1,308,306 $1,308,306 $0 FICA TAXES $100,085 $100,085 $0 LIFE AND HEALTH INSURANCE $173,014 $173,014 $0 RETIREMENT CONTRIBUTION $107,329 $107,329 $0 FRINGE BENEFITS $18,300 $18,300 $0 OTHER CONTRACTUAL SERVICE $92,566 $92,566 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $64,401 $64,401 $0, INSURANCE $139,555 $139,555 $0 OTHER CURRENT CHARGE $59,000 $59,000 So SUPPLIES $12,000 $12,000 $0 OPERATING SUPPLIES $12,000 $12,000 $0 SUBSCRIPTION MEMBERSHIP/TRAINING $15,000 $15,000 $0 MACHINERY AND EQUIPMENT $3,000 $3,000 $0 ADVERTISING $35,000 $35,000 So RENTAL AND LEASES $67,000 $67,000 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $30,000 $30,000 So TOTAL ADMINiSTRATNE EXPENDITURES $2,270,596 $2,270,556 $0 Revenue Shortfall Reserve BUDGET RESERVE - ADMINISTRATION 1 $240,000 $0 $240,000 a) FY 2014 Carryover Fund Balance (Surplus) $0 $68,874 -$68,874 b) FY 2015 Carryover Fund Balance (Surplus) $0 $360,593 -$360593 c} FY 2016 Carryover Fund Balance (Surplus) $272,270 $302,301 -$30,031 d) FY 2017 Carryover Fund Balance (Surplus) $321,755 $0 $321,755 e) FY 2018 Carryover Fund Balance (Surplus) $O $0 $0 TOTAL REVENUE SHORTFALL RESERVE $834,025 $731,768 $102,257 TOTAL FUND BALANCE $55,797,553 $55,963, 79 ($165,827) 2019 TIE Revenue 2019 Administrative Expenditures % Administrative Exp 2018 TIE Revenue So $18,900,757 $2,270,556 12% 2019 Budget Reserve $834,025 Total 2019 Budget $55,797,553 % 2019 Budget Reserve / Total 2019 Budget 119 $0 $0