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HomeMy WebLinkAboutExhibit AMiami Parking Authority (Department of Off -Street Parking) Proposed Operating Budget Fiscal Year 2025-26 (Submitted to the City of Miami Commission For Approval) (Approved by the Off -Street Board of Directors June 4, 2025) MIAMI PARKING AUTHORITY Budget Worksheets for FY 2026 FY 2024 Actual FY 2025 FY 2025 FY 2026 Projected Approved Requested Actual Budget Budget Actual 2024 Requested Budget 2026 vs. Projected 2025 Budget 2025 Increase/(Decrease) Requested Budget 2026 vs. Actual 2024 Projected 2025 Budget 2025 Increase/(Decrease) Operating Revenue Off-Stree1Facilities 7,478,096 6,841,182 6,575,110 7,718,358 240,262 877,176 1,143,248 3.21 12.82 17.39 Parking Lots 11,134,714 11,175,952 11,354,342 11,526,268 391,554 350,316 171,926 3.52 3.13 1.51 On -Street Facilities 39,746,892 42,267,183 40,737,657 42,635,678 2,888,786 368,495 1,898,021 7.27 0.87 4.66 On -Street - Meter Removal 16,719 216,912 - - (16,719) (216,912) (100.00) (100.00) - Management Fees and Administration Services 2,016,563 2,040,415 1,873,955 2,031,851 15,288 (8,564) 157,896 0.76 (0.42) 8.43 Other 1,312,428 1,278,978 1,200,000 1,300,000 (12,428) 21,022 100,000 (0.95) 1.64 8.33 Total Operating Revenue 61,705,412 63,820,622 61,741,064 65,212,155 3,506,743 1,391,533 3,471,091 5.68 2.18 5.62 Operating Expenses Salaries, Wages & Fringe Benefits 11,900,065 12,082,704 12,236,593 12,948,024 1,047,959 865,320 711,431 8.81 7.16 5.81 Repairs, Maintenance, Cleaning & Landscape 3,317,406 2,422,632 2,351,980 2,642,233 (675,173) 219,601 290,253 (20.35) 9.06 12.34 Security 1,527,551 1,811,797 1,815,524 1,869,000 341,449 57,203 53,476 22.35 3.16 2.95 Utilities 616,316 758,681 678,620 708,195 91,879 (50,486) 29,575 14.91 (6.65) 4.36 Insurance 1,246,752 1,520,774 1,334,346 1,131,381 (115,371) (389,393) (202,965) (9.25) (25.60) (15.21) Rental - Building/Land /Fleet 56,880 478,238 495,527 765,104 708,224 286,866 269,577 1,245.12 59.98 54.40 Assessment Expenses 919,870 969,441 967,695 1,007,654 87,784 38,213 39,959 9.54 3.94 4.13 Revenue Sharing 2,622,616 2,797,997 2,730,816 2,690,071 67,455 (107,926) (40,745) 2.57 (3.86) (1.49) Parking Meter Parts & Installation 356,910 68,664 101,000 101,400 (255,510) 32,736 400 (71.59) 47.68 0.40 Professional- Audit 135,912 176,829 176,820 183,893 47,981 7,064 7,073 35.30 3.99 4.00 Professional - Legal Services 117,755 142,611 142,630 142,630 24,875 19 - 21.12 0.01 Professional- Other 1,039,747 750,566 756,000 682,000 (357,747) (68,566) (74,000) (34.41) (9.14) (9.79) Professional - Pay and Display Fees 81,377 120,643 125,500 120,000 38,623 (643) (5,500) 47.46 (0.53) (4.38) Bank Charges 3,096,870 3,176,758 3,132,726 3,289,084 192,214 112,326 156,358 6.21 3.54 4.99 Supplies & Miscellaneous 600,691 753,202 518,210 754,200 153,509 998 235,990 25.56 0.13 45.54 Other Expenses 530,281 444,791 308,200 472,416 (57,865) 27,625 164,216 (10.91) 6.21 53.28 Advertising & Promotion 895,922 767,640 785,500 790,500 (105,422) 22,860 5,000 (11.77) 2.98 0.64 Total Operating Expenses 29,062,921 29,243,968 28,657,687 30,297,785 1,234,864 1,053,817 1,640,098 4.25 3.60 5.72 Operating Results Before Depr & Atnort 32,642,491 34,576,654 33,083,377 34,914,370 2,271,879 337,716 1,830,993 6.96 0.98 5.53 Depreciation & Amortization (4,078,254) (3,581,684) (3,900,000) (3,600,000) 478,254 (18,316) 300,000 (11.73) 0.51 (7.69) Operating Results 28,564,237 30,994,970 29,183,377 31,314,370 2,750,133 319,400 2,130,993 9.63 1.03 7.30 Non -Operating Revenues (Expenses): Interest Income 1,971,318 964,734 160,000 160,000 (1,811,318) (804,734) (91.88) (83.42) - Lower of Cost of Market - Investments 741,127 (22,843) - (741,127) 22,843 - (100.00) (100.00) Gain (Loss) on Disposal Property/Other (158,039) 135,758 - - 158,039 (135,758) (100.00) (100.00) - Interest Expenses (1,537,318) (1,338,810) (1,338,810) (1,235,560) 301,758 103,250 103,250 (19.63) (7.71) (7.71) Other Losses - - - - - - - - - Excess Revenue Distribution to City of Miami (16,000,000) (17,000,000) 16,000,000 17,000,000 (100.00) (100.00) Budgeted Reserves - - - - - - - Total Non -Operating (14,982,912) (17,261,161) (1,178,810) (1,075,560) 13,907,352 16,185,601 103,250 (92.82) (93.77) (8.76) Net Revenue In Excess of Expenses $ 13,581,325 $ 13,733,809 $ 28,004,567 $ 30,238,810 $ 16,657,485 $ 16,505,001 $ 2,234,243 , yyIAMI PARKING AUTHORITY Schedule of Revenue and Expenses Proposed FY 2026 Operating Budget FY 2024 FY 2025 FY 2026 Requested Budget 2026 Requested Budget 2026 Approved Proposed vs. vs. Actual Budget Budget FY 2024 Actual Budget 2025 FY 2024 Actual Budget 2025 $ $ $ Increase/(Decrease) Increase/(Decrease) Operating Revenue Off -Street Facilities 7,494,815 6,575,110 7,718,358 223,543 1,143,248 2.98 17.39 Parking Lets 11,134,714 11,354,342 11,526,268 391,554 171,926 3.52 1.51 On -Street 39,746,892 40,737,657 42,635,678 2,888,786 1,898,021 7.27 4.66 Management Fees 2,016,563 1,873,955 2,031,851 15,288 157,896 0.76 8.43 Other 1,312,428 1,200,000 1,300,000 (12,428) 100,000 (0.95) 8.33 Total Operating Revenue 61,705,412 61,741,064 65,212,155 3,506,743 3,471,091 5.68 5.62 Operating Expenses Salaries, Wanes & Fringe Benefits Salaries - Regular 8,352,204 Salaries - Overtime 290,901 Salaries - Sick & Vacation 603,908 Social Security 575,662 Health Insurance 263,558 Retirement 1,555,523 Benefits - (Auto, LTD, STD) 248,278 Tuition 5,090 Miscellaneous Pay 4,941 9,518,319 10,099,900 560,142 653,733 764,232 524,721 215,446 563,018 709,050 774,594 568,407 233,055 11,900,065 12,236,593 12,948,024 1,747,696 (290,901) (40,890) 133,388 511,036 (987,116) (15,223) (5,090) (4,941) 581,581 20.92 (100.00) 2,876 (6.77) 55,317 23.17 10,362 193.90 43,686 (63.46) 17,609 (6.13) (100.00) (100.00) 1,047,959 6.11 0.51 8.46 1.36 8.33 8.17 711,431 8.81 5.81 Repairs, Maintenance, Cleaning & Landscape Maintenance -Property 965,361 508,000 701,800 (263,561) 193,800 (27.30) 38.15 Maintenance -Landscaping 331,970 189,558 164,558 (167,412) (25,000) (50.43) (13.19) Maintenance -Elevators 104,394 38,000 100,000 (4,394) 62,000 (4.21) 163.16 Maintenance- A/C 229,325 52,800 60,300 (169,025) 7,500 (73.71) 14.20 Maintenance- Computers 100,968 84,000 35,000 (65,968) (49,000) (65.34) (58.33) Maintenance- Garage Equipment 179,282 223,672 249,200 69,918 25,528 39.00 11.41 Maintenance -Alarms 10,287 10,250 14,600 4,313 4,350 41.93 42.44 Maintenance- TV Surveillance 292,175 304,600 325,100 32,925 20,500 11.27 6.73 Repairs - Equipment 97,796 55,700 30,400 (67,396) (25,300) (68.91) (45.42) Motor Pool 385,984 403,000 380,000 (5,984) (23,000) (1.55) (5.71) Cleaning & Housekeeping Supplies 130,897 56,300 16,000 (114,897) (40,300) (87.78) (71.58) Expendable Tools Clothing 78,472 59,000 68,000 (10,472) 9,000 (13.34) 15.25 Signs 236,654 241,100 207,775 (28,879) (33,325) (12.20) (13.82) Small Equipment 170,579 121,000 277,000 106,421 156,000 62.39 128.93 Maintenance - Other 3,262 5,000 12,500 9,238 7,500 283.20 150,00 Cleaning 3,317,406 2,351,980 2,642,233 (675,173) 290,253 (20.35) 12.34 Security Security Armored Car Services 1,508,443 1,796,524 1,849,000 340,557 52,476 22.58 2.92 19,108 19,000 20,000 892 1,000 4.67 5.26 1,527,551 1,815,524 1,869,000 341,449 53,476 22.35 2.95 Utilities Telephone 290,967 273,400 299,775 8,808 26,375 3.03 9.65 Light &Power 325,561 321,260 321,960 (3,601) 700 (1.11) 0.22 Water (212) 83,960 86,460 86,672 2,500 (40,883.02) 2.98 616,316 678,620 708,195 91,879 29,575 14.91 4.36 Insurance Property & Gen Liability Insurance Workers Compensation Insurance Rental - Building/Land Rental - Building/Land Rental - Fleet Assessment Expenses Assessment Expenses -Repairs & Maintenance Assessment Expenses -Utilities Assessment Expenses - Office Supplies Assessment Expenses - Management Fee Assessment Expenses - Insurance Assessment Expenses - Security 1,154,135 1,182,574 974,783 (179,352) (207,791) (15.54) (17.57) 92,617 151,772 156,598 63,981 4,826 69.08 3.18 1,246,752 1,334,346 1,131,381 (115,371) (202,965) (9.25) (1521) 48,005 48,004 48,004 (1) 8,875 447,523 717,100 708,225 269,577 56,880 495,527 765,104 708,224 360,205 24,335 4,146 62,587 319,955 148,642 919,870 342,612 26,837 4,621 66,872 371,109 155,644 967,695 269,577 (0.00) 7,980.00 1,245.12 60 24 54.40 359,743 (462) 17,131 (0.13) 5.00 28,179 3,844 1,342 15.80 5.00 4,852 706 231 17.03 5.00 70,216 7,629 3,344 12.19 5.00 389,664 69,709 18,555 21. 79 5,00 155,000 6,358 (644) 4.28 (0.41) 1,007,654 87,784 39,959 9.54 4.13 Revenue Sharing Revenue Sharing 2,622,616 2,730,816 2,690,071 67,455 (40,745) 2.57 (1.49) ,'(F14-6f: PARKING. AUTHORITY. Schedule of Revenue and Expenses Proposed FY 2026 Operating Budget Parking Meter Parts & Installation Equipment Rental Parking Meter Paris & Installation Legal and Professional Audit Fees Legal Services Property Surveys, Platting Other Consultants Professional - Pay and Display Fees Bank Charges Bank Charges FY 2024 FY 2025 FY 2026 Requested Budget 2026 Requested Budget 2026 Approved Proposed vs. vs. Actual Budget Budget FY 2024 Actual Budget 2025 FY 2024 Actual Budget 2025 $ $ $ Increase/(Decrease) Increase/(Decrease) 16,846 21,000 21,400 4,554 400 27.03 1.90 340,064 80,000 80,000 (260,064) (76.48) 356,910 101,000 101,400 (255,510) 400 (71.59) 0.40 135,912 176,820 183,893 47,981 7,073 35.30 4.00 117,755 142,630 142,630 24,875 - 21.12 10,000 10,000 10,000 - - - 1,039,747 746,000 672,000 (367,747) (74,000) (35.37) (9.92) 81,377 125,500 120,000 38,623 (5,500) 47.46 (4.38) 1,374,791 1,200,950 1,128, 523 (246,268) (72,427) (17.91) (6.03) 3,096,870 3,132,726 3,289,084 192,214 156,358 6.21 4.99 Supplies & Miscellaneous Postage& Courier Services 4,670 5,100 5,500 Printing 34,030 53,810 89,000 Office Supplies 17,716 23,700 26,200 Office Equipment 21,315 35,000 30,000 Computer Supplies 100,338 109,600 92,500 Computer Software 422,622 291,000 511,000 600,691 518,210 754,200 830 400 17.77 7.84 54,970 35,190 161.53 65.40 8,484 2,500 47.89 10.55 8,685 (5,000) 40.75 (14. 29) (7,838) (17,100) (781) (15.60) 88,378 220,000 2091 75.60 153,509 235,990 25.56 45.54 Other Expenses Property Taxes 111,775 50,000 113,136 1,361 63,136 1.22 126.27 Licenses & Permits 187,915 91,950 173,780 (14,135) 81,830 (7.52) 88.99 Miscellaneous 30,069 18,000 20,000 (10,069) 2,000 (33.49) 11.11 Entertainment 228 (228) (100.00 i Travel 26,819 20,250 25,750 (1,069) 5,500 (3.99) 27.16 Training 11,773 10,500 15,500 3,727 5,000 31.66 47.62 Meetings and Conventions 141,381 104,000 111,250 (30,131) 7,250 (21.31) 6.97 Cashier - Overage/(Shortage) 1,068 (1,068) (100.00) Parking Refunds - - - - - Uncollectible Accounts - - - - - - Publications - Membership Dues 13,030 13,500 (5,000 (30) (500) (0.23) (3.70) Claims Settlement Bad Debt Expense 6,037 (6,037) - (100.00) - Penalties&Interest 186 (186) (100.00) 530,281 308,200 472,416 (57,8651 164,216 (10.91) 53.28 Advertising Si Promotion Promotional 7,099 67,500 72,500 65,401 Public Relations 852,432 674,000 674,000 (178,432) Advertising 36,391 44,000 44,000 7,609 Total Operating Expenses 5,000 895,922 785,500 790,500 (105,422) 5,000 29,062,921 28,657,687 30,297,785 1,234.864 1,640,098 Operating Results Before Depr & Amor 32,642,491 33,083,377 34,914,370 2,271,879 Depreciation & Amortization (4,078,254) (3,900,000) (3,600,000) 478,254 Operating Results 28,564,237 29,183,377 31,314,370 2,750,133 Non -Operating Revenues (Expenses): Interest Income Lower of Cost of Market - Investments Gain (Loss) on Disposal Property Interest Expenses Other Losses Excess Revenue Distribution to City Budgeted Reserves Total Non -Operating Net Revenue In Excess of Expenses 1,971,318 160,000 160,000 (1,811,318) 741,127 (158,039) 158,039 (1,537,318) (1,338,810) (1,235,560) 301,758 (16,000,000) - - 16,000,000 1,830,993 300,000 2,130,993 103,250 (14,982,912) (1,178,810) (1,075,560) 14,648,479 103,250 13,581,325 28,004,567 30,238,810 17,398,612 2,234,243 921.27 (20.93) 20.91 (11.77) 7.41 0.64 4.25 5.72 6.96 (11. 73) 9.63 5.53 (7.69) 7.30 (91.88) (100.00) (19.63) (7.71) (100.00) (92.82) (8.76) 122.65 7.98