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Home My WebLink AboutComposite Exhibit AComposite Exhibit "A" Resolution of the Board of Trustees of the Virginia Key Beach Park Trust, adopted June 15, 2020 with Fiscal Year 2020-2021 Budget Attachments, and Budget Form `,171004 kO4k, ANN FA41 2 kk, H HIS ORICIVIRGINLA, ' • :KEY BEA0-1 •77,ARK 04 "415" rk,k io '`,46 104V P4,4';),A044to b4Wikitk .°*",0004:'0440041411q01,1% OPAio+Kimmkr4003,'44 PlArkligNeet.400 k 1, frkif August 1, 2020 - Celebration Historic Virginia Key Beach Park, Miami, Florida Virginia Key Beach Park Trust Budget Template FY 2020-21 Proposed Budget FY 2016-17 Actual FY 2017-18 Actual FY 2018-19 Budget FY 2018-19 Projection FY 2019-20 Proposed FY 2020-21 Proposed Difference Notes Number of Full -Time Positions 4 5 6 6 6 6 0 Are any positions funded in other budgets? no no no no no no If so, how much is in this budget? no no no no no no If so, how much is in the other budget? 0 0 0 0 no no Revenues Park Revenue $643,100 $716,800 $700,000 $700,000 $770,000 $812,000 +$112,000 Grants $0 $0 $65,000 $65,000 $50,000 $0 -$65,000 2021 Ultra Music Festival $0 $0 $0 $0 $0 $1,000,000 2020 Ultra Music Festival $0 $0 $0 $0 $1,000,000 $0 $0 City of Miami Contribution 5150,000 $300,000 $300,000 $300,000 $300,000 $300,000 So 2019 Ultra Music Festival Carryover $0 $0 $0 $1,000,000 $1,000,000 $376,000 -$524,000 -$1,000,000 Cash with Fiscal Agent $24,170 $25,000 $28,000 $28,000 $2,000 $5,000 -$23,000 Fund Balance Carry over -MDC Train $53,100 $25,000 $50,000 $50,000 $125,000 $47,000 -$3,000 Revenue Grand Total $870,370 $1,066,800 $1,143,000 $2,143,000 $3,247,000 $2,540,000 -$603,000 Expenditures Regular Salary and Wages $213,885 $371,200 $313,760 $310,000 $342,000 $401,000 +$91,000 Other Salaries /Park $152,138 $178,740 $184,550 $185,000 $197,700 $208,000 +$23,000 Fringe Benefits $0 $0 $0 50 $0 $0 $0 FICA Taxes $28,075 $42,200 $38,000 $38,000 $41,300 $46,000 +$8,000 Retirement Contributions $0 $20,300 $17,000 $17,000 $17,000 $22,000 +$5,000 Life and Health Insurance $25,413 $55,000 $44,500 $46,000 $45,000 $55,000 +$9,000 Unemployment $0 $5,000 $5,000 $0 $5,000 $5,000 +$5,000 Professional Services $22,151 $4,000 $2,500 $1,500 $1,000 51,000 -$500 Accounting and Auditing $9,500 $10,500 $10,500 $11,000 $11,000 $10,500 -$500 Other Contractual Services $148,550 $137,000 $211,500 $21.4,000 $220,500 $246,000 +$32,000 Other Contractual Services - Grants $0 $0 $65,000 $65,000 $50,000 $0 -$65,000 Travel and Per Diem $6,736 $10,000 $6,000 $5,000 $7,000 $10,000 +$5,000 Communications and Related Services $4,958 $5,000 $5,000 $4,000 $5,000 $5,000 +$1,000 Postage $355 $2,000 $1,500 $1,000 $1,500 $1,000 $0 Rentals and Leases $51,364 $56,360 $52,500 $50,000 $52,500 $55,000 +$5,000 Repair and Maintenance Services $38,468 $30,500 $30,000 $70,000 $150,500 $50,000 -$20,000 Printing and Binding Outsource $6,231 $8,000 $12,000 $10,000 $12,500 $15,000 +$5,000 Promotion Expense $40,163 $30,000 $25,000 $25,000 $25,000 $25,000 So Advertising and Related Costs $4,400 $5,000 $10,000 $10,000 $10,000 $15,000 +$5,000 Other Current Charges & Obligation $5,038 $7,500 $10,000 $8,000 $11,500 $15,000 +$7,000 Office Supplies $3,461 $4,000 $4,690 $5,000 $5,000 $5,000 $0 Operating Supplies $59,654 $38,000 $25,000 $25,000 $27,000 550,000 +$25,000 Uniforms/clothing $3,894 $4,500 $4,000 $3,500 $4,000 $3,000 -$500 Landscape Related Supplies $1,206 $0 $0 $0 $0 $0 $0 Subscriptions, Memberships, and Licenses $2,630 $4,000 $3,000 $3,000 $3,000 $5,000 +$2,000 Equipment & Furniture $796 $12,000 $12,000 $8,000 So So -$8,000 Improvement other than building $20,140 $0 $0 $0 $0 $286,500 +$235,500 All other Expenditure $600 $0 $0 $0 $0 $0 $0 Budget Reserve $24,170 $25,000 $28,000 $28,000 $1,002,000 $5,000 -$23,000 2020 Museum Reserve Funds $0 $0 $0 $0 $1,000,000 $1,000,000 +$1,000,000 Expenditure Grand Total $873,976 $1,066,800 S1,121,000 $1,143,000 $3,247,000 $2,540,000 $1,397,000 Revenues Minus Expenditures -$3,606 so $22,000 51,000,000 so $0 -$2,000,000 VURGKNUA KEY BEACH PARK TRUST 2020-2021 Proposed Budget ' = Virginia Key Beach Park Trust 2019-2020 Adopted Budget 2020'2021 Proposed Budget 449080 Projected Revenue $ 770.000.00 $ 812.00080 431000 Grants $ 50.000.00 $ ' 448000 2O1AUltra Music Festival $ 1.000.000.00 $ 376.000.00 448000 202OUltra Music Festival $ 1.000.000.00 $ ' Cancel 'Cowa1A 448000 2U21Ultra Music Festival $ ' $ 1.000.000.00 480000 MDCTrain Project $ 125.000.00 $ 47.000.80 439000 City ofMiami Contribution $ 300.000.00 $ 300.000.00 486000 Cash with fiscal agent $ 2.00080 $ 5.000.00 Total Revenue Projected $ 3.247.000.80 $ 2.548.000D0 Object Code Projected Expenditures 2019'2020 Adopted Budget 2020'2021 Proposed Budget 512000 Administration Salaries $ 342.000.00 $ 401.000.08 rfull-time positions 513000 Park Salaries $ 197.700.00 $ 208.000.00 zfull-time /8part time 521000 FICA $ 41.300.00 $ 48.000.00 522000 Retirement Contributions $ 17.000.00 $ 22.000.00 523000 Health & Dental Insurance $ 45.000.00 $ 55.000.00 525000 Unemployment Compensation $ 5.000.00 $ 5.000.00 531000 Professional Services $ 1.000.00 $ 1.000.00 532000 Auditors $ 11.000D0 $ 10'500.00 634000 Other Contractual Services $ 270.500.00 $ 246.000.00 540000 Trove|porDiem- $ 7.800.00 $ 10.000.00 541100 Postage $ 1.500.00 $ 1.008.00 541000 Communications &Related $ 5'000.00 $ 5.000.00 5440OO Rent &Lease $ 52.500.00 $ 55.000.00 540000 Repair and Maintenance $ 150.500.00 $ 50.800.00 547100 Printing &Binding $ 12.500.00 $ 16.000.00 548000 Promotional Expenses $ 25.000.00 $ 25.000.00 548100 Advertising $ 10.000.00 $ 15.000.00 548000 Other current charges &obligations $ 11.500.00 $ 15'00080 551000 Office Supplies $ 5.000.00 $ 5.000.00 552000 Operating Supplies $ 27.000.00 $ 50.000.00 552200 Uniforms $ 4.000.00 $ 3.000.00 554000 Licenses, Subscriptions and Memberships $ 3.000.00 $ 5.000.00 063008 Improvement other than building $ ' $ 286.500.00 Reserve Cash m/Fiooa|Agent $ 2.000.00 $ 5.000.00 2019'U|troRoservm $ 1.000.000.00 $ ' 2020 Ultra Reserve $ 1.000.000.00 $ ' 2021 Ultra reserve Funds $ ' $ 1.000.000.00 * 3.347.000.00 $ 3.540.000.00 Historic Virginia Key Beach Park FY 2020 IN d ,,,, q „Ail AA,A , . A A,,, no, „ „ n Ay Al An All ni,„4,,,,of t„,,,;,,,fy ‘? 1,,,,W, AO - 2021 Revenue Projection '0, 0100 (401b 00 ,q1,0010n4. 4,AAA,,AAriv,,A,1100, j ,Ah A nr ,,,-e, 16444 A ' °' AI ivIgA0 41044,0610' Weekend/Holiday Entry 200,000 M-F Entry 36,000 Pavilion Rentals 40,000 Film & Photo Shoots 10,000 Weddings & Receptions 25,000 Returning Large Events African Festival, Cystic Fibrosis Great Strides, Easter Weekend Activities, VK Jouvert, HOT105 Promotion, Miami Kidney Foundation Event, Purple Stride Event, Bikini Sundayz, Beach Bawl, House of Creatives, Where are My Keys, Rakastella, USSO Custome Car Show, Wet Fete Water Party, July 4th Parade, Love Burn, Miami International Boat Show Activities, Ragnar Relay, Tahiti, Wanderlust 108, Big Phat Fish, 235,000 New Large Events Keggae Music hestivai, uomrnunity Music Fest, Splash Down Event, Holiday Pop -Up Parties, Art Basel Activation, Sailing Tournament, HBCU Spring Break BBQ, 76th Anniversary Picnic, Projection 70,000 55,000 Fundraising Campaign & Events Give Miami Day, (2) Dine-n-Dash Historic Tours, Harvest Festival, Black Ceasar Event, Rooftop reception 75,000 YMCA Summer Camp & Storage 18,000 Key Bees Summer Camp 32,000 Camp Guaikinima 10,000 Rest of the World Soccer Academy 14,000 Biscayne Nature Center 1,000 HistoryMiami 1,000 Nature Postings 1,000 Historic Concession Stand Operation 48,000 Vending Machines & ATM 2,000 Cabanas 4,000 Hip Camp (non-profit & Scouting) 5,000 Total 812,000