HomeMy WebLinkAboutExhibitWynwood Business Improvement District 'BID"
FY 2018-19 Proposed Budget
WYNLOD
Number of Full -Time Positions
1
1
2
3
3
3
0
Any positions funded in other budgets?
NO
NO
NO
NO
NO
NO
NO
FY 2014-15
Actual
FY 2015-16
Actual
FY 2016-17
Actual
FY 2017-18
Budget
FY 2017-18
Projection
FY 2018-19
Proposed
Difference
Comments:
BID Assessments
$ 676,011
$ 742,080
$ 775,658
$ 764,206
$ 794,375
$ 765,200
+$994
Expected collections are 95% of amount billed as annual assessments
Collections Deferred
$ 36,710
$ 50,000
$ 45,000
$ 42,184
$ 55,000
+$10,000
Estimated collection of assessments, currently $86K outstanding since BID inception
Parking Waivers - Restricted
$ 54,000
$ 637,200
$ 609,960
+$555,960
FY'18: Restricted Waiver Income for (59) spaces purchased at $12,000 ea. FY'19: Expecting up
to (88) spaces to be purchased at $12,000 each.
Public Benefit Trust Fund
$ 656,353
$0
FY'18: City of Miami has collected in FY'18 a total $1,009,773 m Wynwood Public Benefit Trust
funds,. As per the ordinance, BID is to receive up to 65% of the funds collected, which
represents $656,353. Remaining 35% funds totaling $353,420 will go back to the City of Miami
Public Benefit Trust Committee. The City is to utilize the funds on affordable housing with the
boundaries of the NRD. LSR has been opened at the City of Miami Legal Department to assist in
creation procedures for this committee. FY'19: BID is awaiting new projects before estimating
for new fiscal year.
City of Miami Contribution
$ 369,789
$ 247,500
$0
ZIKA contribution via City of Miami Mayor's office in FY' 17, not expected FY'18, FY'19
Revenue Grand Total
$1,045,800
$778,790
$1,073,158
$863,206
$2,130,112
$1,430,160
$566,954
Increase in income is due to the creation of the restricted parking trust fund account in FY'19
Expenditures
FY 2014-15
Actual
FY 2015-16
Actual
FY 2016-17
Actual
FY 2017-18
Budget
FY 2017-18
Projection
FY 2018-19
Proposed
Difference
Comments:
Regular Salary and Wages
$ 130,000
$ 153,000
$ 224,400
$ 216,500
$ 169,269
$ 212,000
-$4,500
FY'19: Exec Direct makes $1 17,000, MKT Coordinator and Project Coordinator make $85,000
combined, new totals reflects potential increase for entire staff. FY'18: Currently E.D. makes
$117K, Project Coordinator ($35K) began 1-16-18 & MKT Coordinator ($50K) began 4-30-18.
FICA Taxes
$ -
$ -
$ -
$ 10,500
$ 17,226
$ I5,000
+$4,500
FY'19: FICA estimates for (3) employees, after transition of clean staff. FY' 18 - New staff was
hired, additional clean team members also on payroll, thus (5) employees on payroll.
Health Insurance
$ -
$ -
$ -
$ 5,800
$ 5,421
$ 12,500
+$6,700
New health Insurance coverage for two full time employees totaling $1,000 monthly.
Professional Services
$ 100,000
$ 56,500
$ -
$ -
$ -
$ -
$0
No funding requested, items broken down below
Bookkeeping, Assessment, Audit
Prep
$
$ _
$ 45,000
$ 46,000
$ 48,500
$ 36,000
-$10,000
Bookkeeping, annual audit preparation and assessment collection services $36K yearly
Annual Audit
$ -
$ -
$ -
$ -
$ -
$ 10,500
+$10,500
Annual audit dues are $9,000. Subsequent audit dues are $500.
Other Contractual Services
$ 266,000
$ 289,107
$ 36,000
$ 20,000
$ 9,064
$ 2,000
-$18,000
Office assistant cancelled November 2018. Funds will be used for internships in FY'19
Meetings, Annual Retreat
$ -
$ -
$ -
$ 2,000
$ 1,912
$ 2,000
$0
Annual retreat and meeting re-imbursements.
Office Supplies, Utilities,
Equipment
$ 19,000
"
$ 3,246
"
$ 3,900
"
$ 7,400
"
$ 11,554
"
$ 11,000
"
+$3,600
"
Costs for office depot, copier, water, postage, supplies, phones. Increase is due to larger office
space and staff
Office Rent
$ 22,000
$ 24,658
$ 23,488
$ 58,000
$ 42,758
$ 58,000
$0
Wynwood BID moved offices on March 1 2018, rent increased from $1,966 to $4,832 per month.
We received over 8 quotes for space.
D&O Insurance, Workman's Comp
$ -
$ -
$ 9,182
$ 12,000
$ 14,919
$ 12,500
+$500
D&O Insurance, and workman's Comp for BID office and Board of Director's
Licenses, Fees, Dues
$ -
$ -
$ 500
$ 7,000
$ 7,678
$ 6,000
-$1,000
Required licensing & county, Federal, State dues
Advertisement & Marketing
Initiatives
$ 200,000
$ 92,317
$ 135,000
$ 158,000
$ 172,096
$ 190,000
+$32,000
Marketing budget increased in FY'19, due to marketing coordinator hiring and new initiatives
being sought
Rubber Mulching Sidewalks
$ -
$ -
$ 20,000
$ -
$ _
$ _
$0
Rubber mulching to be installed along NW 2nd Ave & N. Miami Ave public right of ways, moved
to Capital FY'19
Police Off Duty Services
$ -
$ -
$ 270,000
$ 158,168
$ 132,792
$ -
-$158,168
Offduty police services were cancelled by the BID in April 2018. We had paid almost
$1,000,000 since project inception
Hospitality Ambassador Program
$ -
$ -
$ -
$ 36,780
$ 20,000
$ 68,040
+$31,260
Hospitality ambassador program for FY'19 to help public with directions, wayfinding services,
handing out maps
Clean Team Services
$ -
$ -
$ 60,000
$ 113,440
$ 159,654
$ 170,660
+$57,220
Increase in due to expansion of service due to 50 block District and no City help cleaning
Clean Team Supplies
$ -
$ -
$ 6,000
$ -
$ 8,406
$ 11,500
+$1 1,500
Funding for clean team supplies and uniforms to be provided by Wynwood BI D
Capital/Restricted Parking Trust
Fund Projects- NEW
$
$ _
$ _
$ 5,000
"
$ 20,000
"
$ 609,960
"
+$604,960
"
New funding source via parking waivers - Restricted projects i.e. transportation, Tri Rail, Traffic,
License Plate Readers, Hospitality ambassadors, Maps,
All Other Expenditures
$ 172,000
$ 82,865
$ -
$ -
$ -
$ -
$0
Not applicable in 2018-2019, individual projects broken down in this form
Office Furniture -Capital
Expenditure non-restrictive
$ _
$ _
$ _
$ 6,618
$ 6,600
$ 2,500
-$4,118
Office furniture expenses for move on March I, 2018. Filing cabinets, art work needed
Expenditure Grand Total
$909,000
$701,693
$833,470
$863,206
$847,849
$1,430,160
$566,954
Increase in expenditures from previous year is due to the creation of the parking trust fund
income expected in FY'19
Revenues Minus Expenditures
$136,800
$77,097
$239,688
$0
$1,282,263
$0
$0
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