HomeMy WebLinkAboutMCRA-R-25-0001 Exhibit AEXHIBIT "A"
MIDTOWN CRA SPECIAL REVENUE FUND BUDGET
FY 2026
Proposed
Budget
FY 2025
Adopted
Budget
Budget
Variance
Revenues
ADVALOREM TAXES - CITY OF MIAMI
$8,737,881
$8,478,964
$258,917
ADVALOREM TAXES - MIAMI DADE COUNTY
$5,600,452
$5,439,165
$161,287
2025's CARRYOVER FUND BALANCE
$1,437,957
$4,920,421
-$3,482,464
TOTAL REVENUES
$15,776,289
$18,838,550
-$3,062,261
Expenditures
INTERFUND TRANSFER (Administration - 1% out
of FY 2026 TIF revenue)
$143,383
$0
$143,383
OTHER CURRENT CHARGES AND OBLIG
$14,606,093
$18,699,369
-$4,093,276
(Note 1)
2026's BUDGET RESERVE
$1,026,813
$139,181
$887,632
TOTAL EXPENDITURES
$15,776,289
$18,838,550
-$3,062,261
REVENUE LESS EXPENDITURES
$0
$0
$0
Note 1
1) Contribution towards Midtown CDD's Debt Service
2) FY 2026's estimated transfer to the City Of Miami
3) FY 2026's estimated transfer to the County
Note 2
$4,763,125
$5,905,781
$3,937,187
$14,606,093
1) Funds to be used towards the payment of debt service $1,026,813
due on 11/1/2026.
OTHER CURRENT CHARGES AND OBLIGATIONS $14,606,093
Available funds to be used to cover the annual debt obligation (CDD's debt issued/Construction of
Parking Garage and Plaza). Remaining balance will be returned to the taxing authorities
proportionally.
2026's TIF COMPUTATION
Multiply By 95%
City Operating Millage - Current Year
County Operating Millage - Current Year
Gross Avalere (City)
Gross Avalere (County)
City Operating Millage
County Operating Millage
Adjustment By Value Adjustment Board
Divided By 1000
Multiply By 95%
City Operating Millage
County Operating Millage
Adjustment (City)
Adjustment (County)
City County
1,380,981,666 1,380,981,666
(29,281, 592) (29,281,592)
1,351,700,074 1,351,700,074
1,351,700
1,284,115
7.1364
(62,847,269)
(62, 847)
(59,705)
7.1364
1,351,700
1,284,115
4.5740
$9,163, 959
(62,847,269)
(62,847)
(59,705)
4.5740
-$426,078
$5, 873, 542
-$273,090
$ 8,737,881 $ 5,600,452 $ 14,338,333
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