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HomeMy WebLinkAboutExhibit AMiami DDA Budget Summary BUDGET SUMMARY The Downtown Development Authority of the City of Miami, Florida Fiscal Year 2024-2025 THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE DOWNTOWN DEVELOPMENT AUTHORITY OF THE CITY OF MIAMI ARE 26% MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES GENERAL FUND Revenue Sources Ad Valorem Tax Levy 0.4505 Millage per $1000 $ 13,550,000 Reimbursements 3,019,490 Total Revenues 16,569,490 Reserve and Carryover Total Revenues and Balances 5,169, 210 21,738,700 Operating Expenditures General Expenses 3,854,710 Leadership, Advocacy and Operations 2,116,000 Quality of Life & Enhanced Services 7,355,490 Arts, Culture & Entertainment 1,225,000 Urbanism 2,800,000 Business Development 3,710,000 Total Operating Expenditures 21,061,200 Fund Balances and Reserves 677,500 Total Expenditures, Reserves, and Balances 21,738,700 The tentative, adopted, and/or final budgets are on file in the office of the above referenced taxing authority as a public record. DRAFT Budget Ad 7/16/2024 Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Revenues Ad Valorem Taxes $9,970,300 $10,924,767 - $12,301,500 $12,301,500 $12,872,500 +571,000 Per Millage calculations: 0.4505 Collection 100% = $13,550,000 Collection 95% = $12,872,500 Grant monies $166,688 $322,271 $310,000 $310,000 $644,490 +334,490 CRA Reimbursement (Contract). Other $123,259 $4,196,620 $565,000 $1,090,346 $2,375,000 +1,810,000 Interest Income (cannot forecast) $65k PIO (City Agreement) $1,860,000 DRI $450,000 IKE Kiosk Carryover Funds from Prior Years $0 $0 $3,521,000 $1,098,755 $5,169,210 +1,648,210 Will be based on need from Economic Recovery Reserve and Carryover. $3M = Unanticipated carryover due to the DDA office move to the new location being postponed due to negotiations which resulted in cost savings over the next 10 years (includes, furniture, permits, rent, storage). The move will take place in this fiscal year. $2.2M- approximately in carryover to fund enhanced services for safety and sanitation programs and urban planning projects. Revenue Grand Total $10,260,247 $15,443,658 $16,697,500 $14,800,601 $21,061,200 $4,363,700 Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Expenditures Regular Salary and Wages $2,369,402 $2,004,888 $2,950,000 $2,631,790 $2,790,100 -159,900 Increase on salaries overall = 6% (3% Performance / 3% Cost of Living) Plus other salary related add ons. FICA Taxes $172,426 $144,825 $236,000 $148,856 $334,850 +98,850 COL, salaries. Retirement Contributions $163,422 $139,277 $206,500 $158,122 $209,260 +2,760 COL, salaries. Life and Health Insurance $344,818 $336,630 $600,000 $347,439 $400,000 -200,000 COL, salaries. Negotiated new agreements. Workers' Compensation $26,768 $34,113 $30,000 $45,000 $50,000 +20,000 Increase in insurance. Professional Services - Legal $35,000 $27,500 $60,000 $30,000 $60,000 0 Contract with the City of Miami. Professional Services $89,913 $93,729 $100,000 $100,000 $100,000 0 IT Services Contract Accounting and Auditing $22,000 $27,000 $35,000 $35,000 $35,000 0 Required Annual Audit and ARPA Funds Audit. Other Contractual Services $95,769 $188,328 $422,000 $302,000 $310,000 -112,000 Intergovernmental Advocacy (State) , IT relocation, Procurement Services, Expert Consultant (allocation moved to Professional Services), and Human Resources Professional Services. Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Ambassadors' Program $927,943 $1,065,076 $980,000 $980,000 $1,500,000 +520,000 The $1.5M allocation for the Ambassadors is an estimate based on the enhancements for the new contract period. As part of the new contract, we are proposing to increase personnel to include an Assistant Operations Manager, one Supervisor, and 2 additional Ambassadors. This addition to the team brings the total personnel count to 27 staff people (24 currently on Team). 2 Operations Supervisors — budgeted both at $130,000/6 Lead Supervisors — currently make $18/hour/19 Ambassadors — currently make $16/hour Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) CRA Team $138,287 $322,271 $310,000 $310,000 $644,490 +334,490 CRA contract (reimbursement). Increases Team members from 10 to 15 Increases hourly rate of $12 to $14 (please note that the minimum wage will increase to $13 on September 29th) Increases Mentor pay rate — mentor rate is $3 above minimum wage ($17/hour) Adds the purchase of a new truck/vehicle as current one is no longer in service. Increases cost of supplies to include, but not limited to: uniforms, brooms, dust pans, safety vests, mega brutes, branding of mega brutes and vehicle, gloves, googles, gas, insurance (new vehicle), lawn equipment, etc. Personnel costs are estimated at $484,000 (13 Team Members, 2 Mentors, and 1 DDASupervisor New Vehicle is budgeted at $40,000 (insurance costs will increase slightly) Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) DET Team and Supplies DET Truck $398,011 $604,462 $965,000 $965,000 $2,521,000 +1,556,000 Camillus Agreement (2nd year - increase to accommodate minimum wage adjustment) Downtown Enhancement Team at 50 Team members Increase Mentor pay rate — mentor rate is $3 above minimum wage ($17/hour) DET Team: Increase Team member hourly rate of $12 to $14 (please note that the minimum wage will increase to $13 on September 29th) - $1,500,000 Insurance costs, warehouse, parking, increase in prices for supplies/equipment, fleet will require more maintenance - $966,000 Purchase New Truck/Vehicle / Aging Fleet - $40,000 Training Classes for Enhanced Services Staff - $5,000 One year Pilot program for DET Technology (8 units) - $10,000 Supplies for Enhancement Team $25,786 $40,000 $0 $0 $0 0 Included in DET Team and supplies. Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) NEAT Team Information Centers Program Management $194,868 $192,207 $195,000 $195,000 $195,000 0 NEAT Agreement (2nd Year - remains the same) $50,000 $25,000 $50,000 $25,000 $0 -50,000 Moved to Community Activations and Grants $3,605 $0 $0 $0 $0 0 Included in Sponsorship line item Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) $299,359 $20,761 $765,000 $765,000 $2,000,000 +1,235,000 Additional Police Officers in Downtown - $650k Cameras/License Plate readers (Phase II and III) - $1.2M Pressure Washing of sidewalks - $25,000 Collaborate with Solid Waste on providing property owners dog waste containers as a result of an inventory conducted and inquiries to increase the amount of containers - $25,000 Adding Pressure Washing Equipment- $10k Dog Spot (Park Maintenance) - $15,000 Creating safer and cleaner trash free streets thru a collaboration with the Solid Waste Dept. Pilot Project to inventory current trash receptacles and purchase larger trash cans - $50k (10 SenseMax unit, to include installation, 5 year warranty and software) Graffiti Task Force - $5,000 in supplies. Supplies include paint, graffiti remover, rags, paint brushes, paint supplies and cart. Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Pit Stop Program $470,419 $319,432 $0 $0 $0 0 Allocation moved to DET Team line item Travel and Per Diem $32,116 $15,150 $50,000 $50,000 $0 -50,000 In -person conferences and meetings. Allocation moved to Professional Development and Conferences. Communications and Related Services $124,008 $364,880 $355,000 $333,200 $610,000 +255,000 Banners, Advertising , Collateral Materials, Videos, Promotional Materials, Website and Holiday Lights (all Flagler Street and Avenue 3 ). Postage $1,378 $1,220 $6,000 $4,500 $6,000 0 Postage, Couriers, etc. Annual Report been sent via mail. Utilities $21,593 $22,050 $40,000 $30,000 $40,000 0 Common areas expense, phone, Internet, etc. Rentals and Leases $323,919 $358,205 $234,000 $524,000 $566,000 +332,000 Office and Storage rent, and visitor parking. Increase due to delay in moving and extension of current office lease until move to new location. Repair and Maintenance Services $16,262 $10,237 $299,000 $244,000 $170,000 -129,000 Miscellaneous items needed for operations of the office such as cleaning, repairs and security system. Donation of furniture. Printing and Binding $12,245 $14,706 $30,000 $20,000 $35,000 +5,000 Copy Machines Usage Advertising and Related Costs $28,603 $20,157 $0 $0 $0 0 Allocation moved to Research and Strategy line item Office Supplies $23,558 $10,655 $19,000 $30,000 $40,000 +21,000 Supplies for employees and office. Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Subscriptions, Memberships, and Licenses $26,974 $26,817 $30,000 $30,000 $45,000 +15,000 Increase in required Software & Licenses for employees. Capital Projects and Purchases $248,648 $1,840,879 $2,490,000 $2,290,000 $2,590,000 +100,000 Master Plan 2050, BayWalk/RiverWalk + Connections, Transportation Initiatives, Flagler Street PIO Office, Avenue 3„ Hardscape and Streetscape Plan, 3D Development Pipeline, Downtown Miami Bike Network, and Public Realm Improvements. All Other Expenditures - - - - - - Please see detail below: Other Staff Benefits $73,836 $66,363 $102,000 $53,649 $117,000 +15,000 Cellphones reimbursement. Public transportation cost for staff and parking. Additional Operational Expenses $41,841 $20,291 $35,000 $82,825 $128,500 +93,500 Meetings, Required Ads & Filings for Budget, Vendor Program, Procurement costs, current and new office equipment and processing fees. Insurance Cost $25,189 $26,771 $27,000 $30,220 $26,000 -1,000 Various insurances and increases in costs Professional Development $36,983 $87,187 $125,000 $125,000 $300,000 +175,000 Tuition reimbursement and professional development for staff to remain competitive and retain talent.(Moved Conferences here) Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Small Business Grants $106,161 $146,450 $886,000 $200,000 $1,100,000 +214,000 Various grant assistance programs (Creation of a small business incentive program, Flagler Reconstruction grant to retain businesses, Lighting grant (increased), and Fagade Improvement Program grant Targeted Programs & Activations $455,897 $228,817 $660,000 $360,000 $305,000 -355,000 Activations, Educational Initiatives, and Homeless/outreach programs (reduction due to contracts being re- negotiated at better rates). Community Activations and Grants $256,750 $562,154 $450,000 $750,000 $1,225,000 +775,000 Legacy and Competitive Grant programs increased to bring more activations to Downtown. Information Center in both areas - Downtown and Brickell and Community Activations and Grants. Public Relations $166,400 $264,100 $195,000 $195,000 $208,000 +13,000 Public Relations Contract (yearly increase and incidentals). Research and Strategy $126,203 $77,712 $335,000 $210,000 $400,000 +65,000 Required per code to conduct Research Reports in the Office Market, Residential Market, Demographics, Retail Study for CBD and Marketing Strategy/Initiatives including creation of a Branding Plan. Downtown Development Authority of the City of Miami Budget Template FY 2024-25 Proposed Budget FY 2021-22 Actual FY 2022-23 Actual FY 2023-24 Adopted FY 2023-24 Projection FY 2024-25 Proposed Difference Notes Number of Full -Time Positions 27 27 30 30 30 0 Are any positions funded in other budgets? Yes Yes Yes Yes Yes CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in this budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) If so, how much is in the other budget? $ 125,000 $ 125,000 $125,000 $ 125,000 $ 135,000 +10,000 CRA Reimbursement (salary and benefits increases) = $70,000 PIO Reimbursement = $65,000 (part of salary) Special Initiatives $888,418 $420,344 $2,075,000 $2,050,000 $1,825,000 -250,000 Business Development Corporate Recruitment, incentives to recruit new to market businesses, grants. Permitting and Small Business Assistance $127,396 $125,875 $350,000 $150,000 $175,000 -175,000 Advertise and Promote Small Businesses Streamline the Permitting process to make it easier for businesses thru the permit clinic and other initiatives Potentially hire a permit runner position. Prospera Classes for small businesses Create a program to support the new Retail grant incentive fund. Support marketing efforts for those businesses and increase TA activities that support success of the businesses. Expenditure Grand Total $8,992,174 $10,296,517 $16,697,500 $14,800,601 $21,061,200 +4,363,700 Revenues Minus Expenditures $1,268,073 $5,147,141 $0 $0 $0