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HomeMy WebLinkAboutExhibitBUDGET SUMMARY The Downtown Development Authority of the City of Miami, Florida Fiscal Year 2018-2019 THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI ARE 1.9% LESS THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES Revenue Sources Ad Valorem Tax Levy Other Revenue Total Sources 0.4681 Millage per $1000 Fund Balances/Reserves Total Revenues and Balances GENERAL FUND 9,120,000 100,000 9,220,000 3,216,000 12,436,000 Operating Expenditures Leadership, Advocacy & Operations 1,340,000 Business Development & Marketing 2,255,000 Arts, Culture & Entertainment 1,117,000 Urban Placemaking 2,176,000 Transit, Connectivity & Mobility 580,000 Quality of Life 2,605,000 Total Operating Expenditures 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 Budget FY 2017-18 Projection FY 2018-19 Proposed Number of Full -Time Positions Are any positions funded in other budgets? 25 25 27 28 28 28 No Difference Notes 0 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 millege Grant monies $0 $156,400 $75,000 $100,000 $100,000 5100,000 $0 Other $126,084 $74,287 $176,980 $0 $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 51,606,737 $1,895,238 52,082,346 $2,232 091 52,232,092 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 $170,646 $179,317 $179,317 +$8,671 Directly cooresponds to salaries Retirement Contributions $109,132 $125,588 $139,547 $155,111 $155,111 $164,081 +$8,970 Directly cooresponds to salaries Life and Health Insurance $268,300 $294,174 $274,650 $391,272 $391,272 $503,261 +$111,989 Estimated insurance cost in FY1819 Workers' Compensation $16,131 $10,311 $9,677 $17,200 $17,200 $18,000 +$800 Renewals Professional Services- Legal $48,867 $34,796 $30,000 $30,000 $30,000 $30,000 $0 Professional Services $136,871 $140,867 $160,161 $285,000 $245,000 $170,000 -S115,000 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 $75,106 $127,000 $112,000 $132,000 +$5,000 Renewals Travel and Per Diem $9,914 $29,495 $54,500 $55,000 $55,000 $55,000 $0 Communications and Related Services $244,930 $277,286 $152,941 $195,883 $193,911 $197,200 +$1,317 Renewals Postage _ $1,864 $2,513 $4,176 $3,000 $3,000 $3,000 $0 utility 50 $0 $0 $0 50 $0 $0 Rentals and Leases $225,120 $232,056 $238,674 $265,256 $255,311 $293,600 +$28,344 Based on contract price Repair and Maintenance services $3,910 $3,675 $5,944 $5,000 $5,000 $5,000 50 Printing and Binding $16,216 $17,378 $15,835 $20,000 $20,000 $20,000 $0 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 50 $0 _ 50 50 $0 Public Safety Supplies 50 $0 $0 $0 $0 $0 50 Subscriptions, Memberships, and Licenses 511,163 $15,693 $13,931 $15,000 $15,000 $15,000 50 Enterfund Transfer $0 $0 $0 $0 50 $0 $0 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 $3,318,372 $3,953,600 -$8,065 Budget Reserve $0 $0 50 $0 50 $0 50 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 $113,613 -$393,439 $609,616 -$1,239,124 -$636,238 -$849,575 Printed: 8/13/2018 12:24 PM $389,549 Page 1 of 1