The URL can be used to link to this page

Home My WebLink AboutCRA-R-21-0029 Exhibit AOMNI TAX INCREMENT FUND BUDGET FY 2022 PROPOSED: BUDGET FY 2021 ADOPTED BUDGET BUDGET VARIANCE REVENUES CITY OF MIAMI - TAX INCREMENT $18,191,428 $18,726,124 ($534,696) MIAMI DADE COUNTY - TAX INCREMENT (ORI3lNAL BOUNDARIES) $11,070,284 $11,401,481 ($331,197) CITY OF MIAMI- TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $823,665 $650,015 $223,850 MIAMI DADE COUNTY -TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $502,155 $385,021 $162,134 Total TIF Revenues S30,747,532 2020 FUND BALANCE LOAN SERIES 2018 A and 2018 B (Funds held by Bank United) $11,288,880 $11,767,372 $18,518 TRANSFER FROM MIDTOWN CRA (Administration) $114,223 $88,462 $16,252 RENT INCOME $100,000 $80,000 $20,000 2022 CHILDREN TRUST CONTRIBUTION $1,150,560 $1,246,906 ($96,346) 2021 ESTIMATED FUND BALANCE (It includes the $4,552,500 - Reimbursement from Loan $22,631,839 $18,481,810 $4,140,229 Series 2018A) TOTALIREVENUE. - - .: $66,531,544 ; $62,856,9961 $3,674,549 REDEVELOPMENTEXPENDIT.URES. ACCOUNTINGANDAUDIT $15,000 $15,000 $0 PROFESSIONAL SERVICES -OTHER $425,820 $325,920 $100,000 OTHER CONTRACTUAL SERVICES $300,000 $300,000 $0 INTERFUND TRANSFER (Debt Service) $2,815,196 $2,814,140 $1,056 INTERFUND TRANSFER (Grant) $812,500 $812,500 $0 OTHER CURRENT CHARGE $0 $1,500,000 ($1,500,000) OTHER GRANTS AND AIDS $38,322,860 $35,801,708 $2,421,252 ADMINLSTRATIVE.EXPENDITURES - REGULAR SALARIES $1,058,540 $813,640 $144,900 FICA TAXES $77,857 $68,883 $7,964 LIFE AND HEALTH INSURANCE $130,000 $120,000 $10,000 RETIREMENT CONTRIBUTION $50,000 $50,000 $0 FRINGE BENEFITS $54,500 $54,500 $0 OTHER CONTRACTUAL SERVICE $140,000 $130,000 $10,000 TRAVEL AND PER DIEM $30,000 $30,000 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $115,000 $115,000 $0 OTHER CURRENT CHARGE $236,617 $216,867 $18,250 SUPPLIES $10,000 $10,000 $0 OPERATING -SUPPLIES ---- $10,000 $10,000 --$0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERY AND EQUIPMENT $6,000 $6,000 $0 ADVERTISING $30,000 $30,000 $0 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE - OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $18,000 $18,000 $0 Total Adminlnralroe Cmpendl Mares $2,011,416 RESERVE FOR 2007 GLOBAI AGREEMENT (TIJNN EL) $4,084,633 $4,231,000 ($146,362) RESERVE FOR 2007 GLOBAL AGREEMENT (35 % PAC) $10,761,636 $10,810,424 ($148,788) RESERVE FOR INTERLOCAL CHILDREN'STRUST $1,150,560 $1,246,906 ($86,346) PAYMENT TO CITY OF MIAMI FOR MAURICE FERRE PARK $3,000,000 $0 $3,000,000 Total Reserve for 04119allolls Wlth Other Governing $38,996,629 RESERVE FOR M€DTOWN ADM EXPENDITURES $114,223 $88,462 $16,256 RESERVE FOR SECURITY DEPOSIT- MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DE POST - 1401 GROUP LLC $40,000 $40000 $0 RESERVE FOR CAPITAL EXPENDITURES $1,354,348 $1,311,442 $42,802 RESERVE FOR PAYMENTOF PROPERTY TAXES- MEC $228,612 $208,862 $18,250 RESERVE FOR LOAN PROCEEDS SERIES 2019 A & B $0 $47,500 ($47,500) Total Resorvo for Othor $1,663,689 $0 2019 BUDGET RESERVE $28,883 $28,893 $0 2020 BUDGET RESERVE $406,621 $249,298 $157,373 2021 BUDGET RESERVE $532,421 $820,131 ($332,660) Tolal Unrestrkrred Reserve $968,035 ITOTAL FUND -BALANCE - $66,531,544 :S62,1356,996 . $3,674,548 A) B) C} 2022 TIF Revenue 2022 TIF Rev for Affordable Housing % 2022 Budget for Affordable Housin g $30,242,532 $3,024,253 10% 2022 TIF Revenue $30,242,532 2022 Administrative Expenditures $2,011,414 % Administrative Exp / 2022 TIF Revenue 7% Budget Reserve (2019, 2020 and 2021) $868,035 Total 2022 Budget $66,531,544 % 2022 Budget Reserve / Total 2022 Budget 1.46% So $o 1