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Home My WebLink AboutCRA-R-17-0044 Exhibit AFY 2017 AMENDED BUDGET 4/10/2017 EXHIBIT A OMNI TAX INCREMENT FUND BUDGET FY 2017 AMENDED BUDGET FY 2017 PROPOSED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT $10,574,483 $10,798,854 -$224,371 MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES) $6,453,941 $6,453,941 $0 CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $240,252 $240,252 $0 MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $146,633 $146,633 $0 Total TIF Revenues S17,415,309 TRANSFER FROM MIDTOWN CRA (Administration) $46,632 $0 $46,632 RENT INCOME - MEC $100,000 $100,000 $0 OTHER INCOME - MEC (REIMBURSEMENT FOR 2016 PROPERTY TAXES) $178,177 $112,688 $65,489 RENT INCOME -1401 LLC $101,481 $101,481 $0 MIDTOWN CRA - CONTRIBUTION TO CRA OPERATING BUDGET $0 $0 $0 LAND $0 $0 $0 FUND BALANCE - OMNI CRA OPERATING BUDGET $0 $0 $0 2017 CHILDREN TRUST CONTRIBUTION $713,820 $0 $713,820 AUDITED FUND BALANCE @ 9/30/2016 $7,779,059 $9,151,422 -$1,372,363 TOTAL REVENUE $26,334,478 27,105,271 -$770,793 REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES - OTHER $354,700 $361,000 -$6,300 OTHER CONTRACTUAL SERVICES $671,657 $300,000 $371,657 INTERFUND TRANSFER (Debt Service) $4,249,500 $4,249,500 $0 INTERFUND TRANSFER (Grant) $1,455,033 $844,015 $611,018 PURCHASE OF REAL ESTATE $2,000,000 $0 $2,000,000 OTHER CURRENT CHARGE $6,095,358 $6,173,888 -$78,530 CONSTRUCTION IN PROGRESS $0 $0 $0 OTHER GRANTS AND AIDS $7,232,765 $9,773,510 -$2,540,745. ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $532,060 $355,500 $176,560 FICA TAXES $40,703 $27496 $13,507 LIFE AND HEALTH INSURANCE $48,000 $48,000 $0 RETIREMENT CONTRIBUTION $20,600 $18,625 $1,975 FRINGE BENEFITS $24,150 $9,900 $14,250 OTHER CONTRACTUAL SERVICE $20,000 $20,000 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 COMMUNICATIONS $0 $0 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $104,166 $104,166 $0 OTHER CURRENT CHARGE $214,271 $129,355 $84,916 SUPPLIES $5,000 $5,000 $0 OPERATING SUPPLIES $5,000 $5,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERY AND EQUIPMENT $24,000 $6,000 $18,000 ADVERTISING $30,000 $40,000 -$10,000 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE-OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $17,500 $17,500 $0 To to AdminIslretiva Espandltures $1,160,350 RESERVE FOR MIDTOWN ADM EXPENDITURES $46,632 $0 $46,632 RESERVE FOR SECURITY DEPOSIT - MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT - 1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $377,135 $362,216 $14,919 RESERVE FOR PAYMENT OF PROPERTY TAXES - MEC $178,177 $0 $178,177 FY 2017 BUDGET RESERVE $2,333,170 $4,000,000 -$1,666,830 TOTAL FUND BALANCE $26,334,478 $27,105,271 -$770,794 A) B) c) 2017 TIF Revenue 2017 TIF Rev for Affordable Housing % 2017 Budget for Affordable Housing SO So SO $17,415,309 $1,741,531 Refer to Item 10 and 11 -Other Grant. 10% 2017 TIF Revenue $17,415,309 2017 Administrative Expenditures $1,160,350 % Administrative Exp / 2017 TIF Revenue 7% 2017 Budget Reserve $2,333,170 Total 2017 Budget $26,334,478 % 2017 Budget Reserve / Total 2017 Budget 9% 1 DeScriptio n Category Approval Date Reso R Amount Budgeted Amount Expended Remaining Balance Accounting and Audit 1 External Auditing Services to the OMNI CRA- Sanson, Kline, Jacamino, Tandoc & Gamarra, LLP Adornlstration 7/29/2016 16-0038 $15,000 50 $15,000 Professional Services - Other 2 Lobbyists Administration NR $35,000 50 $35,000 3 Available for Other Professional Services Administration NR $268,150 $0 $268,150 4 Financial Support Consultant Administration 12/14/2016 16-0064 $47,850 $6,300 $36,550 5 Public Relation Service Administration NR $15,000 $0 $25,000 Other Contractual Services 6 Horsepower Street tight Maintenance Quality of Life NR $25,000 $5,643 $19,357 7 Landscaping Service Quality of Life NR 525,000 53,700 $21,30 6 Design, planning and construction related services for the CRA, related to the Neighborhood Park and Community Event Space located on certain parcels abutting interstate 395. Quality of Life 12/14/2016 16-0065 $325,000 $0 $325,00 9 Consultant fees for construction of Neighborhood Park and other related expenses. Quality of Life 12/14/2016 Per contract $56,000 $fl $56,00 10 CRA Consultants Administration NR $150,000 $o $1$0,00 11 Available for Other Contractual Services - Proposed Budget $250,000 - $150,000 allocated to Other Consultants Administration NR $100,000 0 $100,00 Subtotal 52,057,600 $15,643 $1, 041,35 Total Budget Amount (Professional Services - Legal, Accounting and Audit, Professional Services - Other and Other NR - No CRA Resolution R - CRA Resolution Passed $664,807 $376,550 $1,041,357 Fundinf Source Carryover Fund Balance FY2017 TIF Revenue S15.000 50 $35,000 $0 $268,150 $0 $36,ss0 $0 $15,000 $0 $19,357 $0 $21,300 $0 $325,000 $0 I $56,000 I $150,000 $0 I $100,000 $0 $1,1341,357 $0 $1,041,357 $0 $1,041,357 $15,000 $354,700 $671,657 2 Description Category Approval Date Reso Amount Budgeted Amount Expended Remaining Balance Interfund Transfer {Debt Service) 1 Transfer Out to the City of Miami for the payment of the Port of Miami Tunnel Series 2012 Debt Service Dec-07 2007 Global Agreement $4,249,500 $0 $4,249,500 Other Current Charges and Obligations 2 Estimated 2007 Global Agreement Payment - Performing Art Center Infrastructure Dec-07 2007 Global Agreement $6,095,358 $0 $6,095,358 3 Available for real estate acquisition Infrastructure NR $2.,000,000 $0 $2,000,000 Interfund Transfer (Grant) 4 2015-2016 Policing Services - City of Miami Quality of Life 10/22/2015 15-0043 $710,000 $468,787 $241,213 5 Grant to the City of Miami Police Department for the Expanded Police Program Quality of Life 12/14/2016 16•D063 $500,000 $o $500,000 6 2017 Children Trust Contribution Quality of Life Dec-07 Interlocal Agreement $713,820 $0 $713,820 Subtotal $13,554,858 $468,787 $13,086,071 Total Budget Amount {Interfund Transfer (Debt Service), Debt Service, Purchase of Land and Interfund Transfer (Grant) NR - No CRA Resolution R - CRA Resolution Passed $2,000,000 $11,799,891 $13,799,891 Fundin Source Carryover FY 2017 Fund Balance TIF Revenue $0 $4,249,500 $0 S6,095,358 $0 $2,000,000 $241,213 $0 $0 $500,000 $0 $713,820 $241,213 $13,558,678 $241,213 $13,558,678 $13,799,891 $4,249,500 $6,095,358 $2,000,000 $1,455,033 3 Description Category Approval Date Peso Fr Amount Budgeted Amount Expended Remaining Balance Carryover Fund Balance vVFY2017 TIF Revenue Other Grants and Aids 1 Grant to the Perez Art Museum of Miami Dade County for various community benefits to the redevelopment area. Art and Culture 7/29/2016 16-0039 $1,000,000 $571,531 $428,469 $428,469 $0 2 1401 Rest LLC - Lessor's Contribution to leasehold Improvements - Grease Trap and Hood System Job Creation 6/13/2013 13-0036 $60,000 $0 _ $60,000 $60,000 $0 3 Grant to Chapman House for Fayade Improvement Program Infrastructure 12/14/2016 16-0058 $60,000 $0 $60,000 $60,000 $0 4 Guitars Over Guns Art and Culture NR $185,000 $0 $185,000 $185,000 $0 5 Community Initiatives - Proposed Budget $100,000 (Funds allocated to Budget Reserve) Art and Culture NR $0 $0 $0 $0 $0 6 Arts in the Park/Pop Up Parks - Proposed Budget $750,000 ($325,000 allocated to Urban Temporary Park -CRA R- 16-0065 and $425,000 to Budget Reserve) Art and Culture NR $0 $0 $0 $0 $0 7 Matching funds obligation under the Florida InIdan Navigation District Grant for Phase 2 - Mlami Woman'sClub Baywalk Project - CIP Project Infrastructure 3/28/2013 13-0017 $150,000 $26,214 $123,786 $123,786 $0 8 Available for Business Initiatives and Job Creation Programs - Proceeds from sale of land -14th St DEV LLC - $1,253,649 - CRA-R-15• 0021- Proposed Budget Job Creation / Quality of Life NR $0 $0 $0 $0 $0 9 Dorsey Library -Project Cost -CIP Project - Funds derived from sale of land - 14th St DEV LLC - $1,253,649 - CRA R -15- 0021 Infrastructure CIP Approved Project $950,000 S0 $850,000 $850,000 $0 10 Available TIF funds for Affordable Housing Projects - Original Amount $1,741,530.90 Affordable Housing 9/13/2016 16-0040 $1,041,531 $0 $1,041,531 $0 $1,041,531 11 Grant to Rebuilding Together Miami -Dade Inc. to provide partial funding for a home improvement facade and quality life program. Affordable Housing 12/14/2016 16-0061 $700,000 $0 $700,000 $0 $700,000 12 Grant to Legido Management Services, Inc to provide funding for "Business Rehabilitation Grant Programs°' Affordable Housing 12/14/2016 16.0062 $905,000 $0 $905,000 $905,000 $0 13 Grant to Camillus House, Inc. for the "Miami Shelter Program" Quality of Life 12/14/2016 16-0059 $175,000 $0 $175,000 $175,000 $0 4 14 Miami Downtown Development Authority to expand the Downtown Enhancement Team (Purple Shirts) Quality of Life 12/14/2016 16-0057 $50,000 $0 $50,000 $50,000 $0 15 Available for Business Initiatives and Job Creation Programs - Proposed Budget $502,107 allocated to Giant to Legida Management Services, Inc Job Creation / Quality of Life NR $0 $0 $4 $0 $0 16 Museum Park Remediation Project B-30538. CIP Project funded with OMNI TIF Funds, Infrastructure CIP Approved Project $175,000 $0 $175,000 $175,000 $0 17 Contribution to the City of Miami-TRI Rail Project Infrastructure 6/25/2015 5/26/2016 15-0022 $3,750,000 $1,271,021 $2,478,979 $845,675 $1,633,304 Subtotal $9,161,531 $1,868,766 $7,237,765 53,857,936 $3,374,835 $3,857,930 $3,374,835 Total Budget Amount Other Grants and Aids NR - No CRA Resolution R - CRA Resolution Passed $185,600 $7,047,755 $7,732,755 $7,232,765 5 Position Executive Director - OMNI Executive Director- Midtown (Reimbursed by Midtown CRA) Assistant Executive Director $75,000 Chief Legal Officer $70,000 Director of Policy and Planning $57,500 Cash Out Accumulated Annual Leave Cash Out - Former Assistant Executive Director (Balance @ 4/7/17 - 739) Cash Out of 200 hours of annual leave in FY 2017 Cash Out - Former Assistant Executive Former Assistant Director Salary (Oct 2016 - April 2017) Assistant to the Executive Director Community Liaison Intern (510/Hour) Compensated Absences Regular Salaries Fica taxes Health/Dental/Vision Insurance OMNI CRA Staff Contingency Life and Health Insurance Retirement Contribution (401K) Executive Director Assistant Executive Director Assistant to the Executive Director Community Liaison Chief Legal Officer Director of Policy and Planning Retirement Contribution Car Allowance Executive Director - OMNI Executive Director- Midtown (Reimbursed by Midtown CRA) Former Assistant Director ($300 x 7 months (Oct 2016 - Aprit 2017) Assistant Executive Director ($300 x 5 months) Chief tegai Officer Cell Phone Allowance Executive Director - OMNI Executive Director - Midtown (Reimbursed by Midtown CRA) Assistant Executive Director Former Assistant Director ($150 x 7 months (Oct 2016-April 2017) Chief Legal Officer Director of Policy and Planning Fringe Benefits ADP - Payroll Processing Fee (26 payroll periods X $150) Janitorial Service / Supplies Circle Security Solutions Comcast OTIS Elevator Maintenance Service Other Contractual Services OMNI $126,000 $2,740 $50,004 $46,667 $38,333 $32,516 $8,846 $53,667 $43,000 $42,000 $20,800 $73,491 I $532, 0601 $40,703 $40,703I $48,000 $5,000 $48 000 I $9,600 $2,500 $2,150 $2,100 $2,333 $1,917 $20,6001 $3,600 $6,000 $2,100 $1,500 $2,400 $1,200 $2,400 $1,500 $1,050 $1,200 $1,200 $24,150 $3,900 $9,000 $2,700 $2,400 $2,000 I $20,000I To Include cost for travel out of the city for conferences and travel allowances. $30,000 Travel and Per Diem FPL - Fire House Miami Water and Sewer Contingency Utility Service Property Insurance/General/Liability Insurance (MEC) Property Insurance/General/Liability Insurance (Fire Station No 2) Workers Compensation )CRA Staff) Insurance I $30,0001 $10,800 $3,500 $6,000 1 $20,300 I $71,166 $28,000 $5,000 $104,166 To include the cost of food associated to CRA Meetings/Ribbon Cutting $5,000 To include the cost of miscellaneous supplies. $2,000 Sale Tax -1401 Rest !LC $8,223 Sale Tax - EUE / Screen Gems LTD, Inc MEC $20,872 6 Rental and teases To include the cost of stamps or other related item. Distribution of newsletter Postage To include the cost associated to any office/truck repair. Repair / Maintenance - Outside To Include transfer of funds to the City of Miami Office of the City Clerk for Interfund Transfer Total FY 2017 Amended Budget -Recurrent Expenditures 2016 MEC Property Taxes Other Current Charges To include supplies necessary for use in the operation of an office, such as copy Supplies To include other supplies not office related. Ex. Misc. Protect Construction and Operating Supplies To include the cost of memberships to organization, Microsoft license, and Subscription Membership Purchase of Vehicle To include the cost of new computers Machinery and Equipment To Include the expenses of placing advertisements in the newspapers or other Advertising $178,177 $214,271 $5,000 0,0001 $5,000 $5,000 $17,000 [ $17,000 $18,000 $6,000 I $29,000 I $30,000 I $30,000I Konica Minolta Copier $3,600 I $3,600I $2,000 $2,000 $2,000 $2,000 $17,500 I $17,500I $1,160,350 7