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Miami Sports and Exhibition Authority
PROPOSED
OPERATING BUDGET
FISCAL YEAR 2018-2019
MIAMI SPORTS AND EXHIBITION AUTHORITY
OPERATING BUDGET FOR FISCAL YEAR 2018/2019
Table of Contents
I. MSEA Members
II. Letter of Introduction
III. Budget Summary
IV. MSEA Operating Budget
MIAMI SPORTS AND EXHIBITION AUTHORITY
BOARD OF DIRECTORS
Mayor Francis X. Suarez, Chairman
Commissioner Keon Hardemon
Commissioner Wifredo Gort
Rafael Cabrera
James S. Cassel
Barbara Rodriguez
Jay Solowsky
Eli Feinberg
Katherine Moore
Davie Madison
Frank Veloso
EXECUTIVE DIRECTOR
Lourdes Blanco
Miami Sports and Exhibition Authority
Operating Budget
Notes to Proposed Budget for 2018/2019
General Revenue
Rent Revenue, and Reserves:
MSEA Watson Island Seaplane Base: $72,000.00 ($6,000.00 month),
Heliport: $84,000.00 ($7,000.00 month)
MSEA Reserve Grant Funds $522,083.00
General Expenses
I. Payroll, Taxes and Benefits
Executive Director: proposed $50,000.00. The Executive Director provides overall
management for the Miami Sports and Exhibition Authority.
SS/State and Federal Taxes, Medicare Contribution: $3,800.00 these funds will be used for
Social Security, State and Federal Taxes, and Medicare costs of Executive Director.
Insurance: Proposed $5,000.00. These funds will be disbursed to the Executive Director on a
monthly basis for health, life and disability insurance coverage.
IL Operating Expenses
Business Meeting Expenses: Proposed $3,000.00 these funds will be used for food expenses
associated with the Board Meetings of Miami Sports and Exhibition Authority.
Contingencies: proposed $5,000.00. These funds will be used for any unforeseen expenses
incurred during the year.
General Insurance & Directors Liability Insurance: proposed $13,000.00. These funds will be
used to purchase General Insurance & Directors Liability Insurance for Miami Sports and
Exhibition Authority.
Car Allowance: Proposed $6,000.00. These funds will be disbursed to the Executive Director on
a monthly basis for the use of a car.
Phone/Table PC Allowance: $1,200.00. These funds will be disbursed to the Executive Director
on a monthly basis for use of a phone and/or tablet PC.
Professional Services -Legal: Proposed $500.00. These funds will be used for legal services
Warehouse Storage Services: Proposed $5,100.00. These funds will be used for expenses related
to the warehouse storage of the Miami Sports and Exhibition Authority archives.
Office Supplies: proposed $500.00. These funds will be used to purchase office supplies.
Postage: proposed $100.00. These funds will be used to purchase postage.
Printing Services: Proposed $100.00. These funds will be used for printing services.
III. Professional Services
Audit: proposed $12,000.00. These funds will be used to pay for the annual audit of MSEA's
finances.
Subscriptions, Memberships, and Licenses: Proposed $600.00. These funds will be used to pay
for professional service fees including, but not limited to bank and state regulatory fees.
Accounting Services: Proposed $10,000.00 these funds will be used to pay for accounting
services provided by a Certified Public Accounting firm to the Miami Sports and Exhibition
Authority.
Capital Projects and Purchases: $400.00 these funds will be used to pay for a printer.
Miami Sports and Exhibition Authority (MSEA)
Budget Template FY 2018-19 Proposed Budget
FY 2014-15 Actual FY 2015-16 Actual'
FY 2016-17 Actual FY 2017-18 Budget FY 2017- 8 Projection FY 2018-19 Proposed
Difference
Notes
Number of Full -Time Positions
1
1
1
1
1
0
Are any positions funded in other budgets?
YES
Revenues
Chalk's Miami Seaplane Base Lease
n/a
n/a
n/a
572,000
$72,000
$72,000
$0
Watson Island Heliport lease
n/a
n/a
n/a
$80,517
$80,517
$84,000
+$3,483
Miami Children's Art Museum Lease
n/a
n/a
n/a
$2
$2
$2
$0
MSEA Reserve/ Grant Funds
n/a
n/a
n/a
$524,633
$524,633
$522,083
-$2,550
Revenue Grand Total
50
$0
$0
$672,152
$677,152
$678,085
$933
Expenditures
Regular Salary and Wages
n/a
n/a
n/a
$50,000
$50,000
$50,000
$0
Fringe Benefits
n/a
n/a
n/a
$0
$0
$0'
$0
FICA Taxes
n/a
n/a
n/a
$3,800
$3,800
$3,800
$0
Retirement Contributions
n/a
n/a
n/a
$0
50
$0
$0
Life and Health Insurance
n/a
n/a
n/a
$5,000
$5,000
$5,000
$0
Workers' Compensation
n/a
n/a
n/a
$0
$0
$0
$0
Professional Services - Legal
n/a
n/a
n/a
$500
$500
$500
$0
Professional Services
n/a
n/a
n/a
$0
$0
$0
$0
Accounting and Auditing
n/a
n/a
n/a
$20,300
$20,300
$22,000
+$1,700
Other Contractual Services
n/a
n/a
n/a
$0
$0
$0
50
Travel and Per Diem
n/a
n/a
n/a
50
50
$0
$0
Communications and Related Services
n/a
n/a
n/a
$100
$100
$100
S0
Postage
n/a
n/a
n/a
$100
$100
$100
_
$0
Phone/Tablet Allowance
n/a
n/a_ _
n/a
$4,100
$4,100
$1,200
-$2,900
APM-3-01 dated March 22, 2018
Car Allowance
n/a
n/a
n/a
$5,400
$5,400
_ $6,000
+5600
APM-3-01 dated March 22, 2018
Insurance Board Members
n/a
n/a
n/a
$9,000
$9,000
513,000
+54,000
Printing and Binding
n/a
n/a
n/a
$100
$100
$100
$0
Advertising and Related Costs
n/a
n/a
n/a
$0
$0
S0
$0
Office Supplies
n/a
- n/a
n/a
$200
$200
$500
+$300
Iron Mountain Storage
n/a
n/a
n/a
$4,800
54.800
55 100
+$300
Food and Beverage Board Meetings
n/a
n/a
n/a
$3,550
$3,550
$3,000
-$550
Contingency
n/a
n/a
n/a
$5,000
55,000
$5,000
$0
Subscriptions, Memberships, and Licenses
n/a
n/a
n/a
$500
$500
$600
+$100
Interfund Transfer
n/a
n/a
n/a
$0
$0
$0
$0
Capital Projects and Purchases
n/a
n/a
n/a
$0
$0
$400
Printer
All Other Expenditures
n/a
n/a
n/a
$0
$0
$0
_+$400
$0
Grants
n/a
n/a
n/a
$150,000
$150,000
$150,000
$0
No disbursement of grants
Budget Reserve
n/a
n/a
n/a
$414,702
$0
5411,685
-53,017
Expenditure Grand Total
$0
$0
$0
$677,152
$262,450
$678,085
$933
Revenues Minus Expenditures
$0
50
50
$0
$414,702
$0
$0
Printed: 8/20/2018 3:16 PM
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