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Home My WebLink AboutCRA-R-21-0026 Exhibit ASEOPW GENERAL OPERATING TAX INCREMENT FUND BUDGET FY 2022 PROPOSED BUDGETBUDGET FY 2021 ADOPTED BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT (ORIGINAL BOUNDARIES) $17,758,099 $18,557,982 ($799,883) MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES} $10,803,587 $11,292,971 ($489,384) CITY OF MIAMI - TAX INCREMENT (EXPANDED BOUNDARIES) $1,085,022 $1,015,970 $69,052 MIAMI DADE COUNTY - TAX INCREMENT (EXPANDED BOUNDARIES) $658,650 $616,657 $41,993 CITY OF MIAMI- TAX INCREMENT (PARK WEST ADDITION) $3,009,153 $1,123,257 $1,885,896 MIAMI DADE COUNTY - TAX INCREMENT (PARK WEST ADDITION) $1,832,075 $682,016 $1,150,059 Tatar2022 TIF Revenue $35,146,583 2022 CONTRIBUTION FROM THE CHILDREN TRUST FUND (ESTIMATE) $1,343,314 $998,666 $344,648 PROCEEDS OF SALE OF BLOCK 55 (ESTIMATE) $0.00 $16,020,000 ($16,020,000) 2021 ESTIMATED FUND BALANCE $49,573,353 $30,350,693 $19,222,660 TOTA'LREVENU0 $86,063,253 $80,658,212 $5,405,041 REDEVELOPMENT EXPENDITURES PROFESSIONAL SERVICES - LEGAL $268,691 $300,000 ($31,309) ACCOUNTING AND AUDIT $31,000 $31,000 $0 PROFESSIONAL SERVICES - OTHER $1,310,690 $1,584,800 ($274,110) OTHER CONTRACTUAL SERVICES $1,250,009 $877,690 $372,319 DEBT SERVICE PAYMENT $4,510,625 $4,513,375 ($2,750) INTERFUND TRANSFER $10,648,152 $17,038,422 ($6,390,270) LAND $0.00 $0.00 $0.00 CONSTRUCTION IN PROGRESS $1,753,477 $1,966,224 ($212,747) OTHER GRANTS AND AIDS $62,450,812 $50,554,995 511,895,817 TOTAL REDEVELOPMENT EXPENDITURES $82,223,457 $76,866,506 $5,356,951 REGULAR SALARIES $1,308,306 $1,308,306 $0,00 FICA TAXES $100,085 $100,085 $0.00 LIFE AND HEALTH INSURANCE $185,448 $185,448 $0.00 RETIREMENT CONTRIBUTION $127,302 $119,211 $8,091 FRINGE BENEFITS $26,699 $26,699 _- $0.00 OTHER CONTRACTUAL SERVICE $120,230 $120,230 $0.00 TRAVEL AND PER DIEM $30,000 $30,000 $0.00 UTILITY SERVICE $69,000 $69,000 $0.00 INSURANCE $172,583 $172,563 $0.00 OTHER CURRENT CHARGE $86,392 $86,392 $0.00 SUPPLIES $12,000 $12,000 $0.00 OPERATING SUPPLIES $12,000 $12,000 $0.00 SUBSCRIPTION MEMBERSHIP/TRAINING $15,000 $15,000 $0.00 MACHINERY AND EQUIPMENT $3,000 $3,000 $0.00 ADVERTISING $75,000 $75,000 $0.00 RENTAL AND LEASES $79,000 $79,000 $0.00 POSTAGE $2,000 $2,000 $0.00 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0,00 INTERFUND TRANSFER $30,000 $30,000 $0.00 TOTALADMINISTRATIVE EXPENDITURES $2,456,045 $2,447,954 : ,'$8,091 Revenue Shortfall Reserve FY 2022 BUDGET RESERVE - ADMINISTRATION $240,000 $240,000 $0.00 FY 2016 Carryover Fund Balance (Surplus) $240,000 $272,270 -$32,270 FY 2017 Carryover Fund Balance (Surplus( $272,270 $321,755 -$49,486 FY 2018Carryover Fund Balance (Surplus) $321,755 $309,727 $12,028 FY 2019 Carryover Fund Balance (Surplus) $309,727 $200,000 $109,727 FY 2021 Carryover Fund Balance (Surplus) $0.00 $0.00 $0.00 TOTAL REVENUE SHORTFALL RESERVE $1,383,751` $1,343,752 $40,000. TOTAL FUND BALANCE $86,063,253 $80,658,212 $5,405,041 2022 TIF Revenue 2022 Administrative Expenditures %Administrative Exp / 2022 TIF Revenue $o $35,146,586 $2,456,045 7% 2022 Budget Reserve $1,383,751 Total 2022 Budget $86,063,253 % 2022 Budget Reserve / Total 2022 Budget 2% $o 1