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HomeMy WebLinkAboutExhibit AMiami Parking Authority (Department of Off -Street Parking) Proposed Operating Budget Fiscal Year 2022-23 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors July 13, 2022) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2023 Operating Budget FY 2021 FY 2022 FY 2023 Requested Budget2023 Requested Budget2023 Approved Proposed vs. vs. Actual Budget Budget FY 2021 Actual Budget 2022 FY 2021 Actual Budget 2022 Operating Revenue $ $ $ Increase/(Decrease) Increase/(Decrease) Off -Street Facilities 3,474,079 4,015,988 4,565,364 1,091,285 549,376 31.41 13.68 Parking Lots 7,474,710 7,665,104 9,440,173 1,965,463 1,775,069 26.29 23.16 On -Street 33,862,450 31,707,810 35,486,204 1,623,754 3,778,394 4.80 11.92 Management Fees 1,559,317 1,411,012 1,381,996 (177,321) (29,016) (11.37) (2.06) Other 911,856 875,000 925,000 13,144 50,000 1.44 5.71 Total Operating Revenue 47,282,412 45,674,914 51,798,737 4,516,325 6,123,823 9.55 13.41 Operating Expenses Salaries, Wages & Fringe Benefits 9,221,512 10,342,646 10,787,127 1,565,615 444,481 16.98 4.30 Repairs, Maintenance, Cleaning & Landscape 1,668,174 1,778,443 2,357,886 689,712 579,443 41.35 32.58 Security 1,439,277 1,505,065 1,466,456 27,179 (38,609) 1.89 (2.57) Utilities 595,558 579,876 631,300 35,742 51,424 6.00 8.87 Insurance 836,315 899,223 931,369 95,054 32,146 11.37 3.57 Assessment Expenses 560,801 563,631 838,704 277,903 275,073 49.55 48.80 Rental - Building/Land 204,487 48,004 48,004 (156,483) - (76.52) Revenue Sharing 1,425,619 1,552,807 2,209,117 783,498 656,310 54.96 42.27 Parking Meter Parts & Installation 11,811 33,500 34,880 23,069 1,380 195.32 4.12 Legal and Professional 1,051,849 1,070,098 975,230 (76,619) (94,868) (7.28) (8.87) Bank Charges 3,001,353 3,037,223 3,399,147 397,794 361,924 13.25 11.92 Supplies & Miscellaneous 346,823 259,450 367,100 20,277 107,650 5.85 41.49 Other Expenses 177,422 216,328 252,428 75,006 36,100 42.28 16.69 Advertising & Promotion 495,081 443,500 468,500 (26,581) 25,000 (5.37) 5.64 Total Operating Expenses 21,036,082 22,329,794 24,767,248 3,731,166 2,437,454 17.74 10.92 Operating Results Before Depr & Amort 26,246,330 23,345,120 27,031,489 785,159 3,686,369 2.99 15.79 Depreciation & Amortization (3,940,113) (3,900,000) (3,900,000) 40,113 - (1.02) Operating Results 22,306,217 19,445,120 23,131,489 825,272 3,686,369 3.70 18.96 Non -Operating Revenues (Expenses): Interest Income 184,098 160,000 160,000 (24,098) - (13.09) Lower of Cost of Market - Investments (182,668) - Gain (Loss) on Disposal Property 52,965 - (52,965) - (100.00) Interest Expenses (1,704,810) (1,620,054) (1,530,804) 174,006 89,250 (10.21) (5.51) Other Losses 1,581,667 - Excess Revenue Distribution to City (10,000,000) - 10,000,000 - (100.00) Budgeted Reserves - - - Total Non -Operating (10,068,748) (1,460,054) (1,370,804) 8,697,944 89,250 (86.39) (6.11) Net Revenue In Excess of Expenses 12,237,469 17,985,066 21,760,685 9,523,216 3,775,619 77.82 20.99 MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2023 Operating Budget FY 2021 FY 2022 FY 2023 Requested Budget 2023 Requested Budget 2023 Approved Proposed vs. vs. Actual Budget Budget FY 2021 Actual Budget 2022 FY 2021 Actual Budget 2022 $ $ $ Increase/(Decrease) Increase/(Decrease) Operating Revenue Off -Street Facilities 3,474,079 4,015,988 4,565,364 1,091,285 549,376 31.41 13.68 Parking Lots 7,474,710 7,665,104 9,440,173 1,965,463 1,775,069 26.29 23.16 On -Street 33,862,450 31,707,810 35,486,204 1,623,754 3,778,394 4.80 11.92 Management Fees 1,559,317 1,411,012 1,381,996 (177,321) (29,016) (11.37) (2.06) Other 911,856 875,000 925,000 13,144 50,000 1.44 5.71 Total Operating Revenue 47,282,412 45,674,914 51,798,737 4,516,325 6,123,823 9.55 13.41 Operating Expenses Salaries, Wages & Fringe Benefits Salaries - Regular 6,747,189 Salaries - Overtime 162,573 Salaries - Sick & Vacation 488,062 Social Security 503,610 Health Insurance 318,614 Retirement 855,086 Benefits - (Auto, LTD, STD) 133,962 Tuition 6,268 Miscellaneous Pay 6,148 7,865,818 8,243,489 464,061 549,432 682,955 601,892 178,488 482,781 572,841 681,101 621,222 185,693 9,221,512 10,342,646 10,787,127 1,496,300 377,671 22.18 4.80 (162,573) - (100.00) (5,281) 18,720 (1.08) 4.03 69,231 23,409 13.75 4.26 362,487 (1,854) 113.77 (0.27) (233,864) 19,330 (27.35) 3.21 51,731 7,205 38.62 4.04 (6,268) (100.00) (6,148) (100.00) 1,565,615 444,481 16.98 4.30 Repairs, Maintenance, Cleaning & Landscape Maintenance - Property 174,604 486,000 478,500 303,896 (7,500) 174.05 (1.54) Maintenance -Landscaping 367,886 75,060 73,400 (294,486) (1,660) (80.05) (2.21) Maintenance -Elevators 61,255 54,000 50,000 (11,255) (4,000) (18.37) (7.41) Maintenance - A/C 30,328 30,000 20,000 (10,328) (10,000) (34.05) (33.33) Maintenance - Computers 65,314 97,000 80,000 14,686 (17,000) 22.49 (17.53) Maintenance - Garage Equipment 252,693 241,102 252,000 (693) 10,898 (0.27) 4.52 Maintenance - Alarms 28,877 16,000 14,000 (14,877) (2,000) (51.52) (12.50) Maintenance- TV Surveillance 30,421 35,200 240,000 209,579 204,800 688.93 581.82 Repairs - Equipment 130,520 68,060 151,000 20,480 82,940 15.69 121.86 Motor Pool 161,251 100,560 186,000 24,749 85,440 15.35 84.96 Cleaning & Housekeeping Supplies 104,514 418,186 423,886 319,372 5,700 305.58 1.36 Expendable Tools - - - - - Clothing 35,133 27,345 68,300 33,167 40,955 94.40 149.77 Signs 139,813 78,900 174,300 34,487 95,400 24.67 120.91 Small Equipment 83,117 45,030 140,500 57,383 95,470 69.04 212.01 Maintenance - Other 2,448 6,000 6,000 3,552 145.10 Cleaning - - - - - 1,668,174 1,778,443 2,357,886 689,712 579,443 41.35 32.58 Secpri Security 1,423,752 1,487,065 1,452,456 28,704 (34,609) 2.02 (2.33) Armored Car Services 15,525 18,000 14,000 (1,525) (4,000) (9.82) (22.22) 1,439,277 1,505,065 1,466,456 27,179 (38,609) 1.89 (2.57) Utilities Telephone 244,079 262,756 271,100 27,021 8,344 11.07 3.18 Light & Power 245,052 257,590 272,500 27,448 14,910 11.20 5.79 Water 106,427 59,530 87,700 (18,727) 28,170 (17.60) 47.32 595,558 579,876 631,300 35,742 51,424 6.00 8.87 Insurance Property & Gen Liability Insurance Workers Compensation Insurance Assessment Expenses Assessment Expenses - Repairs & Maintenance Assessment Expenses - Utilities Assessment Expenses - Office Supplies Assessment Expenses - Management Fee Assessment Expenses - Insurance Assessment Expenses - Security 795,297 41,018 700,000 746,313 199,223 185,056 836,315 899,223 931,369 (48,984) 46,313 (6.16) 6.62 144,038 (14,167) 351.16 (7.11) 95,054 32,146 11.37 3.57 193,113 3,986 321,384 128,271 317,398 66.42 7,962.82 15,121 5,408 13,632 (1,489) 8,224 (9.85) 152.07 3,419 41,567 3,048 (371) (38,519) (10.85) (92.67) 49,444 117,670 50,640 1,196 (67,030) 2.42 (56.96) 184,156 200,000 200,000 15,844 8.60 - 115,548 195,000 250,000 134,452 55,000 116.36 28.21 560,801 563,631 838,704 277,903 275,073 49.55 48.80 Rental - Building/Land Rental - Building/Land 204,487 48,004 48,004 (156,483) - (76.52) MIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2023 Operating Budget Revenue Sharing FY 2021 FY 2022 FY 2023 Requested Budget 2023 Requested Budget 2023 Approved Proposed vs. vs. Actual Budget Budget FY 2021 Actual Budget 2022 FY 2021 Actual Budget 2022 $ $ $ Increase/(Decrease) Increase/(Decrease) Revenue Sharing 1,425,619 Parking Meter Parts & Installation Equipment Rental Parking Meter Parts & Installation 1,552,807 2,209,117 14,339 (2,528) 28,500 29,880 5,000 5,000 11,811 33,500 34,880 783,498 656,310 54.96 42.27 15,541 1,380 108.38 7,528 - (297.78) 4.84 23,069 1,380 195.32 Legal and Professional Property Surveys, Platting 7,000 10,000 10,000 3,000 Legal. Services 128,105 127,630 127,630 (475) Trustee Fees - 15,000 15,000 15,000 Audit Fees 110,912 163,500 163,500 52,588 Other Consultants 805,832 753,968 659,100 (146,732) (94,868) 1,051,849 1,070,098 975,230 (76,619) (94,868) 4.12 42.86 (0.37) 47.41 (18.21) (7.28) (12.58) (8.87) Bank Charnes Bank Charges 3,001,353 3,037,223 3,399,147 397,794 361,924 13.25 11.92 Supplies & Miscellaneous Postage & Courier Services 5,310 5,700 5,600 290 (100) 5.46 (1.75) Printing 83,817 89,250 89,500 5,683 250 6.78 0.28 Office Supplies 22,807 22,500 37,500 14,693 15,000 64.42 66.67 Office Equipment 15,913 23,500 24,000 8,087 500 50.82 2.13 Computer Supplies 8,079 5,500 19,500 11,421 14,000 141.37 254.55 Computer Software 210,897 113,000 191,000 (19,897) 78,000 (9.43) 69.03 346,823 259,450 367,100 20,277 107,650 5.85 41.49 Other Expenses Property Taxes 51,441 50,528 50,528 (913) (1.77) Licenses & Permits 35,243 25,950 30,950 (4,293) 5,000 (12.18) 19.27 Miscellaneous 17,891 15,600 16,800 (1,091) 1,200 (6.10) 7.69 Entertainment 629 - 500 (129) 500 (20.51) Travel 894 19,000 16,000 15,106 (3,000) 1,689.71 (15.79) Training 2,769 34,500 42,200 39,431 7,700 1,424.02 22.32 Meetings and Conventions 38,472 51,250 69,750 31,278 18,500 81.30 36.10 Cashier - Overage/(Shortage) 10 - - (10) - (100.00) - Parking Refunds - - - - - Uncollectible Accounts - - - - - Publications Membership Dues 29,923 19,500 25,700 (4,223) 6,200 (14.11) 31.79 Claims Settlement - Bad Debt Expense - - - - - - - Penalties & Interest 150 (150) (100.00) 177,422 216,328 252,428 75,006 36,100 42.28 16.69 Advertising & Promotion Promotional 2,409 52,500 52,500 50,091 Public Relations 445,574 240,000 264,000 (181,574) Advertising 47,098 151,000 152,000 104,902 495,081 443,500 468,500 Total Operating Expenses 21,036,082 24,000 1,000 (26,581) 25,000 2,079.33 (40.75) 222.73 10.00 0.66 (5.37) 5.64 22,329,794 24,767,248 3,731,166 2,437,454 17.74 10.92 Operating Results Before Depr&Amor 26,246,330 23,345,120 27,031,489 785,159 3,686,369 2.99 15.79 Depreciation & Amortization (3,940,113) (3,900,000) (3,900,000) 40,113 (1.02) Operating Results 22,306,217 19,445,120 23,131,489 825,272 3,686,369 3.70 18.96 Non -Operating Revenues (Expenses): Interest Income 184,098 160,000 160,000 (24,098) (13.09) Lower of Cost of Market - Investments (182,668) Gain (Loss) on Disposal Property 52,965 (52,965) (100.00) Interest Expenses (1,704,810) (1,620,054) (1,530,804) 174,006 89,250 (10.21) (5.51) Other Losses 1,581,667 (1,581,667) (100.00) Excess Revenue Distribution to City (10,000,000) 10,000,000 (100.00) Budgeted Reserves - - Total Non -Operating (10,068,748) (1,460,054) (1,370,804) 8,515,276 89,250 (86.39) (6.11) Net Revenue In Excess of Expenses 12,237,469 17,985,066 21,760,685 9,340,548 3,775,619 77.82 20.99