Loading...
HomeMy WebLinkAboutExhibit ABUDGET SUMMARY The Downtown Development Authority of the City of Miami, Florida Fiscal Year 2022-2023 THE FINAL OPERATING BUDGET EXPENDITURES OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI ARE 33.67% MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES Revenue Sources Ad Valorem Tax Levy Reimbursements Reserve and Carryover 0.4681 Millage per $1000 GENERAL FUND $ 11,520,000 4,942,000 Total Revenues 16,462,000 Total Revenues and Balances 2,263,000 18,725,000 Operating Expenditures General Expenses 4,334,500 Leadership, Advocacy and Operations 1,281,500 Urbanism 9,198,000 Enterprise 3,335,000 Total Operating Expenditures 18,149,000 Fund Balances and Reserves 576,000 Total Expenditures, Reserves, and Balances 18,725,000 The tentative, adopted, and/or final budgets are on file in the office of the above referenced taxing authority as a public record. Downtown Development Authority of the City of Miami Budget Template FY 2022-23 Proposed Budget FY 2018-19 Actual I FY 2019-20 Actual I FY 2020-21 Actual I FY 2021-22 Adopted I FY 2021-22 Projection I FY 2022-23 Proposed Difference Notes Number of Full -Time Positions 29 30 29 35 29 34 -1 5 positions to be hired: Urban Planning, BD (2), Research and Accounting. Are any positions funded in other budgets? Yes Yes Yes Yes Yes If so, how much is in this budget? $113,000 $118,000 $120,000 $120,000 $125,000 +5,000 CRA Reimbursement= $60,000 PIO Reimbursement = $65,000 If so, how much is in the other budget? $113,000 $118,000 $120,000 $120,000 $125,000 +5,000 CRA Reimbursement= $60,000 PI0 Reimbursement = $65,000 Revenues Ad Valorem Taxes $8,775,932 $9,427,283 $9,904,090 $10,079,500 $10,079,500 $10,944,000 +864,500 Number based on 95% of preliminary collection on $11,520,000 (millage .4681). Grant monies $132,165 $246,161 $389,597 $280,000 $280,000 $310,000 +30,000 Increase CRA Reimbursement (Contract). Other $41,176 $49,966 $96,621 $1,815,000 $1,182,470 $4,632,000 +2,817,000 $65k PI0 (City Agreement) $350k PitStop CRA (Agreement) $500k Business Incentives (City Reso) $3,717,000 DRI Funds (City Reso) Carryover Funds from Prior Years $0 $0 $0 $1,403,000 $769,840 $2,263,000 +860,000 Reserve and Carryover Revenue Grand Total $8,949,273 $9,723,410 $10,390,308 $13,577,500 $12,311,810 $18,149,000 +4,571,500 Expenditures , Regular Salary and Wages $2,315,914 $2,333,237 $2,313,542 $3,000,000 $2,564,361 $3,150,000 +150,000 5 positions anticipated to be hired: Urban Planning, Business Development (2), Research and Accounting. Increases on COL, salaries, new positions and onetime payment supplements. FICA Taxes $168,100 $170,245 $170,499 $240,000 $205,149 $252,000 +12,000 Increases on COL, salaries, new positions and one time payment supplements. Retirement Contributions $149,140 $157,962 $161,269 $210,000 $179,505 $220,500 +10,500 Increases on COL, salaries, new positions and onetime payment Life and Health Insurance $288,419 $291,411 $340,718 $500,000 $381,140 $600,000 +100,000 Increases on COL, salaries, new positions and onetime payment Workers' Compensation $17,955 $21,611 $19,945 $25,000 $31,134 $35,000 +10,000 Increases due to cases during the year (2 as of today). Professional Services - Legal $27,500 $30,000 $25,000 $60,000 $30,000 $60,000 0 Contract with the City of Miami. Professional Services $92,429 $58,891 $50,045 $80,000 $80,000 $100,000 +20,000 IT Consultant. New RFP 2022 Accounting and Auditing $22,000 $22,000 $23,200 $25,500 $22,000 $30,000 +4,500 Annual Audit. New RFP 2023 Other Contractual Services $35,000 $50,952 $81,709 $120,000 $56,000 $180,000 +60,000 Intergovernmental Advocacy (State and Federal). Ambassadors' Program CRA Team DET Team and Supplies DET Truck NEAT Team Information Centers Program Management Security and Sanitation Program Pit Stop Program $565,272 $714,460 $823,491 $980,000 $980,000 $980,000 0 Contract. $77,948 $243,298 $250,000 $280,000 $280,000 $310,000 +30,000 Increase in contract (reimbursement). $451,052 $504,163 $408,055 $615,000 $615,000 $665,000 +50,000 Additional costs related to work force, supplies and sanitation. Purchase of new truck. $0 $21,828 $0 $0 $0 $0 0 Included in DET Team and supplies. $154,986 $180,000 $194,917 $195,000 $195,000 $195,000 0 Contract. $37,500 $50,000 $50,000 $50,000 $50,000 $50,000 0 Contracts-2 locations. $7,112 $300 $2,902 $0 $0 $0 0 $0 $0 $25,252 $300,000 $300,000 $500,000 +200,000 Additional security for downtown, quarterly clean up events, street pressure washing and other initiatives to ensure downtown is clean and safe. $0 $343,378 $78,914 $1,075,000 $600,000 $876,000 -199,000 Implementation of 3 pitstop bathrooms (2 more pending), includes bayfront and Ferre Park bathrooms. CRA reimburses their portion. Downtown Development Authority of the City of Miami Budget Template FY 2022-23 Proposed Budget FY 2018-19 Actual I FY 2019-20 Actual I FY 2020-21 Actual I FY 2021-22 Adopted I FY 2021-22 Projection I FY 2022-23 Proposed Difference Notes Number of Full -Time Positions 29 30 29 35 29 34 -1 5 positions to be hired: Urban Planning, BD (2), Research and Accounting. Are any positions funded in other budgets? Yes Yes Yes Yes Yes If so, how much is in this budget? $113,000 $118,000 $120,000 $120,000 $125,000 +5,000 CRA Reimbursement = $60,000 PIO Reimbursement = $65,000 If so, how much is in the other budget? $113,000 $118,000 $120,000 $120,000 $125,000 +5,000 CRA Reimbursement = $60,000 PIO Reimbursement = $65,000 Travel and Per Diem $58,313 $20,446 $12,504 $60,000 $60,000 $80,000 +20,000 In -person conferences and meetings (out of Miami). Communications and Related Services (Advertising) $103,518 $162,388 $171,782 $333,000 $283,000 $370,000 +37,000 Banners, Advertising, Collateral Materials, Videos, Promotional Materials, Website. Postage $2,827 $759 $11,438 $5,000 $3,500 $8,000 +3,000 Postage, Couriers, etc. Annual Report been sent via mail. Utility $26,582 $24,504 $22,046 $40,000 $30,000 $40,000 0 Common areas expense, phone, Internet, etc. Rentals and Leases $257,758 $291,175 $274,474 $318,000 $329,500 $356,500 +38,500 Office and Storage rent / Increase per lease. Parking lease. Repair and Maintenance Services $3,204 $27,859 $10,939 $25,000 $25,000 $35,000 -F10,000 Office cleanings / Repairs / Security System / Miscellaneous items needed for operation of the office. Printing and Binding $8,030 $7,803 $24,863 $35,000 $30,000 $30,000 -5,000 Copy Machines Usage Advertising and Related Costs $63,337 $132,757 $196,863 $0 $0 $175,000 +175,000 Calculated Strategies that include but are not limited to: Influencer program, new innovative ways to promote the DDA and it's programs and initiatives, etc. Office Supplies $24,475 $28,605 $16,532 $25,000 $25,000 $30,000 +5,000 Supplies for employees Subscriptions, Memberships, and Licenses $17,658 $33,705 $21,453 $25,000 $25,000 $25,000 0 Software & Licenses Capital Projects and Purchases $1,300,332 $969,374 $1,008,938 $1,630,000 $1,430,000 $4,207,000 +2,577,000 Master Plan 2050, BayWalk/RiverWalk + Connections, Transportation and Connectivity, Biscayne Green, Flagler Street PIO Office, Utility Markings Program, Avenue 3 activations and Public Realm Improvements. Includes DRI reimbursement line items. All Other Expenditures $38,829 $53,125 $0 $0 $0 $0 0 Please see detail below Other Staff Benefits $78,775 $65,087 $70,330 $97,000 $73,208 $112,000 +15,000 Cellphones, parking and passes. Consultants $79,823 $187,637 $59,352 $90,000 $90,000 $90,000 0 Expert Consultants such as: Human Resources analysis, Research, Communications and Advertising. Additional Operational Expenses $77,315 $52,504 $59,919 $97,000 $90,000 $105,500 +8,500 Meetings, Required Ads & Filings, Office Equipment and program management fees. Insurance Cost $19,821 $15,825 $21,236 $27,000 $25,313 $31,500 +4,500 Increases in insurances. Professional Development $46,691 $37,851 $20,684 $60,000 $60,000 $125,000 +65,000 Increased (per DDA Board direction) in order to remain competitive and retain talent during the great resignation. Small Business Grants $6,900 $114,392 $290,056 $200,000 $200,000 $525,000 +325,000 Various grant assistance programs (example: Flagler Construction, Window Wrapping, Lighting and Facade Program, amongst others). Targeted Programs &Activations $175,252 $224,253 $1,002,318 $495,000 $590,000 $890,000 +395,000 Outdoor Dining/Restaurant Recovery, Activations, Educational Initiatives, Homelessness, and Downtown Dog Spot. Sponsorships $475,075 $271,206 $671,928 $250,000 $250,000 $300,000 +50,000 Legacy and Competitive Grant programs Downtown Development Authority of the City of Miami Budget Template FY 2022-23 Proposed Budget FY 2018-19 Actual I FY 2019-20 Actual I FY 2020-21 Actual I FY 2021-22 Adopted I FY 2021-22 Projection I FY 2022-23 Proposed Difference Notes Number of Full -Time Positions 29 30 29 35 29 34 -1 5 positions to be hired: Urban Planning, BD (2), Research and Accounting. Are any positions funded in other budgets? Yes Yes Yes Yes Yes If so, how much is in this budget? $113,000 $118,000 $120,000 $120,000 $125,000 +5,000 CRA Reimbursement= $60,000 PIO Reimbursement = $65,000 If so, how much is in the other budget? $113,000 $118,000 $120,000 $120,000 $125,000 +5,000 CRA Reimbursement= $60,000 PIO Reimbursement = $65,000 Public Relations $132,072 $146,492 $146,424 $215,000 $215,000 $185,000 -30,000 PR Contract and possible incidentals. Research and Strategy $46,420 $57,536 $37,311 $200,000 $75,000 $175,000 -25,000 Research Reports (3) and Demographics Report / Yearly subscriptions (databases) Special Initiatives $457,180 $641,290 $526,115 $1,245,000 $1,483,000 $1,850,000 +605,000 Business Development, Talent Recruitment and Retention initiatives and Business Incentives. Permitting and Small Business Assistance $0 $131 $6,500 $350,000 $350,000 $200,000 -150,000 Permitting clinic and other small business initiatives. Expenditure Grand Total $7,910,514 $8,760,440 $9,703,463 $13,577,500 $12,311,810 $18,149,000 $4,571,500 Revenues Minus Expenditures $1,038,760 $962,970 $686,845 $0 $0 $0 $0