HomeMy WebLinkAboutExhibit AMIDTOWN 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
S4,763,125
$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.
1
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
1, 380, 981, 666
(29,281, 592)
County
1,380,981, 666
(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
2