The URL can be used to link to this page

Home My WebLink AboutExhibit A-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Exhibit A File ID 17968 17968 Exhibit A -SUB THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYFRONT PARK MIAMI BAYFRONT PARK MANAGEMENT TRUST OPERATING BUDGET FISCAL YEAR 2025/2026 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYF RO NT PARK MIAMI TABLE OF CONTENTS 1. MEMBERSHIP 2. LETTER OF INTRODUCTION 3. RESOLUTION ADOPTING NEW BUDGET FOR FISCAL YEAR 2025/2026 4. BUDGET VARIANCE AND COMPARISON FROM PREVIOUS YEAR 5. BUDGET SUMMARY BY MONTH 6. NOTES TO PROPOSED BUDGET 7. CAPITAL IMPROVEMENT BUDGET THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYFRONT PARK MIAMI CHAIRMAN Commissioner Miguel Angel Gabela TRUST MEMBERS Christopher Penelas Javier Banos Marie Loussaint Carlos Martell Steven Smith Pat Santangelo Horacio Stuart Aguirre Ana Matos INTERIM EXECUTIVE DIRECTOR Raul Miro MIIDRED AND CLAUDE PEPPER BAYFRONT PARK MANAGEMENT TRUST THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 301 N. BISCAYNE BOULEVARD. MIAMI. FL 93132 TELEPHONE: (305)358-7550 FAX: (305) 358-1211 July 30, 2025 SUBJECT; Submission of the Bayfront Park Management Trust Operating Budget for Fiscal Year 2025- 2026- Beginning October 1, 2025 and ending on September 30, 2026. Dear City of Miami Commission: Pursuant to Section 38-109 of the Code of the City of Miami, the Bayfront Park Management Trust submits its annual operating and maintenance budget for Bayfront Park and Maurice A. Ferre Park to the City Commission for approval. Attached for your review and approval Is the Trust's Operating Budget for Fiscal Year 2025- 2026, covering the period from October 1, 2025, through September 30, 2026. Please feel free to contact me if you have any questions. Sincer Rau Miro Inte im Executive Director RMiroCalmiamigov.com MILDRED AND CLAUDE PEPPER MANAGEMENT TRUST THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132 TELEPHONE: (305)35e-7550 FAX: (305) 358-1211 Resolution No. 25-55 A RESOLUTION OF THE BAYFRONT PARK MANAGEMENT TRUST ("TRUST") OF THE CITY OF MIAMI, FLORIDA ("CITY"), APPROVING AND ADOPTING THE PROPOSED ANNUAL BUDGET, ATTACHED AND INCORPORATED AS EXHIBIT A, IN THE AMOUNT OF THIRTY MILLION, SIX HUNDRED TWENTY-THREE THOUSAND, SEVEN HUNDRED FIFTY-TWO AND 00/100 DOLLARS ($30,623,752.00) TO PROVIDE FOR THE MANAGEMENT, OPERATIONS, MAINTENANCE, AND CAPITAL IMPROVEMENTS OF THE MILDRED AND CLAUDE PEPPER BAYFRONT PARK AND MAURICE A. FERRE PARK FOR THE FISCAL YEAR COMMENCING OCTOBER 1, 2025, AND ENDING SEPTEMBER 30, 2026; DIRECTING THE EXECUTIVE DIRECTOR TO TRANSMIT A COPY OF THIS RESOLUTION TO THE CITY OF MIAMI FOR PLACEMENT ON THE CITY COMMISSION'S SEPTEMBER 13, 2025 FIRST BUDGET HEARING MEETING AGENDA FOR THE CONSIDERATION AND APPROVAL BY THE CITY COMMISSION OF THE TRUST'S PROPOSED BUDGET PURSUANT TO SECTION 38-109 OF THE CODE OF THE CITY OF MIAMI, AS AMENDED. Dated this 30th day of July, 2025 Comssioner Miguel Angel Gabela Ch man, Bayfront Park Management Trust THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYFRONT PARK MIAMI "EXHIBITA & B" BUDGET VARIANCE AND COMPARISON FROM PREVIOUS YEAR Bayfront Park Management Trust Corporation Operating Budget October 2026 - September 2026 "Exhibit A" THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Budget Variance Actual 0011 2024 - Forecast July 1 2023 - Proposed Budget Approved Budget Proposed vs Prior June 30. 2025 !bpi 30, 2023 2025/202$ 2024/2025 Year Budget BPMT - ANPNREATNER OPERATIONS & rOMT. 577,206.01 259,73522 100224100 1,002,941.00 BPMT- BOAT DOCK INCOME 011,157A2 27,75705 713,006.00 70200000 BART -CONCESSIONS 1200264.51 290,11917 1,617,901.00 1,19920.80 414000/0 BPRT- EVENT RENTAL INCOME 3244,14400 • 2,412,50010 2,402.50410 BART - F1L314 VIDEO LOCATION RENTAL 7,1100.00 20,000L0 30 000.00 BRIT- GLOBAL AGREEMENT RE INARIRSEMENT 2,000A00.00 _ 2,0000MA0 220020020 BRIT -man 560,74100 0,000.00 000,741.00 020900.00 02,741.00 (PVT- MARQUEE REVENUE 174,73222 7,000.00 30,000.00 20,000.00 BART- NMCEUANEOUS REVENUES 256,004.07 3,70.00 15200.00 15000.0 N WT -PARKING OPERATION INCOME 1,100,421.17 321,000.00 122220000 1,222244.00 BPIT- SKYVEW SURCHARGE 210.564.02 105,010.00 420200.04 420,000.00 *MT -SPECIAL EVENT SPONSORSHIP 140,00000 - 120,000.011 • 120,000.00 Rssave Trses6r F,wds 20,310,070.00 0,300,97000 General Fend N000000 - g50,000.00 Tot Income 3 10,154,1400 $ 1,0211,142.11 $ 21001,7R1 0 5 0000001/0 3 191,24101 Ness Pram $ 10204240.0 1 100,142.19 5 31,041,702.0 $ 2009001110 $ /9M,74100 Expenses BPMT-AUTOMOBLE EXPENSES 17076.13 0,010.47 20,042.0 20.042.M BRIT • EQUIPMENT RENTAL 10,12109 9,49997 21100000 20000. 0 SPAT- LANDSCAPING & TREE MAINTENANCE 221,M0.10 03,124.07 10,10.00 1116200.00 BPMT- 210ENUES & PERMITS 11,21629 300.00 1220000 1200000 S PLIT- OFFICE & ORAL ADMIN. EXPENSES 11625577 34,04.97 142,0000 142040.09 BPMT- OTHER BUSINESS EXPENSES 27,73L10 11250.03 73,00500 7300000 0PIR - PAYROLL BENEFITS AND EXPENSES 1300211.02 70.40123 202,72400 202,724.00 BRAT • PAYROLL SALARIES & WAGES 77200.32 326,124.17 1,306,010.00 1,30501400 SPLIT - PROFESSIONAL FEES 617,31100 2113,17110 1,172,700.00 1.172,70000 BPMT • REPARS & MAINTENANCE 011,091$ 41,552.91 10221200 10201L0 BPITT - SPONSORED EVENTS & ENTERTAINMENT 1,3112014.0 36000.0 3,300000.00 1,312,0000 1217,50000 BRAT • SU►PUES & MATERIALS 5127921 15,539.91 62,16000 62,100.00 BART -UIIJIIES 613002.46 211,424.97 5I6,M0.00 O46,00600 Ciy of germ 5000000 509000.00 FICA Tam - 114,711000 114,74020 ReOrrsoeH Cahibudons 155,00000 15600020 Cod/yeey Rssevs - St4,241.00 16,4241.00 Told Exposes 6 4,574,04255 5 1.396.460.40 $ 115436100 1 5.703.72 00 $ 3,401,0120 Nat Opening looms $ 0.636017,0 $ 1303i2021) $ 2101111,911101 1 25,:90,730-0 $ PAWN" Other 0¢mns 0,05m1 bans & Dividends 619,41690 261,20.03 104520420 1,04101000 War Isar Taal ORR Income $ 610,415S' $ 211,2000 $ 1049000.00 $ 1045000.0 $ 0012s Etpeaes 7700e70e00*oe EypMes 301,04523 167,11311111 1171,731.00 171,7310 Total Ohm ammonia $ 301040.23 $ 1670340 3 Q1,730.M 3 er1,77600 5 - Capd E,psnmlu.s $014017.0 $ 21,011,00001 $ 22.)3001621/ (13606016) Nt Other became $ (1,12707633) $ 93,31635 S (21,317.734/01 $ (22,110,735901 0 MAIM Nd Income $ 2,I6302112 $ ):760000) 0 IM MJU 1 2090.0001 $ (1,130,701Q THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Bayfront Park Management Trust Budget Template FY 2025-26 Proposed Budget FY 2022-23 Actuali FY 2023-24 Actual FY 2024-25 Adopted FY 2024-2S Projection FY 2025-26 Proposed DifferenceJNotes Number of Full -Time Positions 16 15 16 21 17 +6 Are any positions funded In other budgets? No No No No NO If so, how much is in this budget? No No No No No If so, how much Is In the other budget? No No No No NO - Revenue. Amphiteather Operations & Mgt $931,802 $993,373 $1,002,941 $1,002,941 $1,002,941 S0 Boat Dock Income 5576,881 $712,979 $792,000 $792,000 $792,000 -. $0 Concessions $802,257 $539,738 $1,199,600 $1,199,600 $1,617,600 ' -5418,000 Event Rental Income $2,718,125 $3,032,326 $2,402,500 $2,402,500 $2,402,500 ,; • 50 Film & Video Location Rental $41,391 $28500 $30,000 $30,000 $30,000 50 Global Agreement Reimbursement $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,000,000 50 Grants $1,112,951 $540,786 $535,000 $588,741 $588,741 -553,741 Micellaneous Revenues Marquee Revenue Parking Operation Income Special Event Sponsorship Reserve Transfer Funds General Fund Skyview Surcharge $507,773 $532,263 $15,000 $15,000 S15,000 SO $15,000 $125,557 $30,000 530,000 $30,000 $0 $1,303,903 $1,412,399 $1,222,000 $1,222,000 $1,222,000 SO $155,200 $165,150 50 $120,000 $120,000 -$120,000 58,106,221 .-may.: __ _-_ _ _ $16,198,244 $645,419 $20,300,970 $420,000 $20,300,970 $420,000 $20,300,970 $500,000 $0 -$500,000 Return $500k to the City of Miami 5247,512 5420,000 50 Revenue Grand Total $18,519,016 $26,926,734 $29,950,011 530,123,752 531,041,752 -51,091,741 Expenditures Regular Salary and Wap,,es $763,174 51,010,798 $1,305,0981 $1,305,098 51,305,098 $0 Payroll Benefits and Expenses $164,486 i $206,488 5282,724 5282,724 $282,724 $0 City of Miami $500,000 -5500,000 Return $500k to the City of Miami FICA Taxes - - Retirement Contributions Ufe and Health Insurance Workers' Compensation Unemployment , - - Professional Services 5506,379 $690,736 51,172,700 $1,172,700 $1,172,700 $0 Sponsored Events & Entertainment $1,270,174 $1,362,217 51,382,500 51,782,500 $3,200,000 -$1,817,500 Other Contractual Services I -' -� s Office & Gral Admin. Expensesants 5191210� 183,080 $142,0W $142 040 5142,040 SO Communications and Related Services 1 I S374,186 $426,468 $162,012 $162,012 , Postage $162,012 Rentals and Leases Repair and Maintenance Services $0 Maintenance -Landscape $71,541 $122,247 S198,500 $198,500 $198500 $0 Utilities $468,031 $623,317 $846,500 5846,500 5846,500 $0 Promotion Expense Interest Income & Dividends $0 $1,056,243 -$1045,000 -$1,045,000 -$1,045,000 $0 De.reciation Expense $469,551 5509,488 $671,735 $671 735 $671,735 • 50 Office Su.. lies:_ $67,838 $62,160 $62,160 $62,160 Operating Supplies $32,283 S0 Automobile Expenses $24,471 $32,736 $26,042 $26,042 $26,042 50 Uniforms/clothing Landscape Related Supplies 8 r THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Bayfront Park Management Trust Budget Template FY 2025-26 Proposed Budget FY 2022-23 Actual FY 2023-24 Actual FY 2024-25 Adopted FY 2024-25 Projection FY 2025-26 Proposed DiferenceTNotes Number of Full -Time Positions 16 15 16 21 17 +6 Are any positions funded in other budgets? No No No No NO If so, how much is in this budget? No No No No No If so, how much Is In the other budget? No No No No N0 Permits and Licenses $399 $6,504 512,000 $12,000 $12,000 S0 Equipment Rental $11,292 S22,791 $38,000 $38,000 $38,000 $0 Contingency Reserve $0 $2,090,000 $1,863,741 $864,241 50 Other Business Expenses $158,901 $236,671 $73,000 S73,000 $73,000 $0 Capital Expenditures $11,650,000 516,156,078 526,077,873 532,635,495 $22,530,000 $29,950,011 22,530,000 $30,123,752 S22,530,000 SO Expenditure Grand Total _ $31,041,752 -52,317,500 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYFRONT PARK MIAMI BUDGET SUMMARY BY MONTH THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Bayfront Park Management Trust Corporation Budget Overview: Budget_FY28J2&L - FY28 P&L 001000r 202/ • e00l001001 0]/ 110111 V111806 A0br10012061• MUM July13Sn• 186,066I1911gat MOI0w0aW/M P100616611 Odor Am* NU 1+116,a00 0111011 0111 MSS Dee M I Jan OM 414 MI MIMS $Tans May MM AMOOM AIM Ay MM IIOMM 20MOIf{ MOM Vow bare 6 ra. O PIn• A101m0AT111 Oe1AT1ll001001T. m?N1A1 2MMMW »,0»A MIMS WN1A 28171.1 13.571.42 13,01A2 PJ70A7 SLAM 113,I71A 1,011I2 11811711.42 1$110,11 1,ORM1A0 146LM/A0 1PMT• MOAT 000KMOM M1N7A m,mM 81,141 177M2A1 1MM106 MUM ALHOM M.M7M 1111.111186 111MA0 MIMM 101/0116 10N8 0 11,11846 7811.1110.94 710101A0 WIT •COlCIM10M 1600.660.21 MAW 114,1110A0 1MAIM 164806.06 1/81011M 1M81.11.10 110MCM 12016911 1mM6M MAIM 110114M Moan 12OAM.M 1A17,M1M tokens* 916.911050 DPW • Mir IMOALIKCCY/ 2504.144M 200000M unmet* MUM • 3118094 2.102.1111100 / 1.617. 10a1 VIM LOCA11Wa5TAL 7,510.60 2.6113M 046.00 LMM.M 1N106 2M40.1 2M0M 2,106M s10OA0 2.111.1.111 1.111N a06.0 LION MNOM 3111806.16 MIT 20•006R46 OA10.611N . • • • 1.1111MA1 1.110A61.06 MMT•MAIM MAIN ►MOM WPM • • .. 114701N W ,7MM 11O60006 6:164100 SSW . SWIM MINUS /767I2.a2 7,060M LMOM 2M0M SAWN L/IEM 2616.03 2.110.06 2.166N UMN OWN LIMN 2M01M 1N0M 36.110N game» O MT• 1MOa1Ma4MMNMa1 16139.97 L116M 1M10M 1,01080 1,310M 1,1161.11 1N3N 1,211M 1N400 /,2MM 121061 1,21011 1N0M 1,110M Hamm 10850781 O 711T• PAMIMo 01W11011moor 1./10441.17 stl mu,* 161OMM 167M0N 117.010.10 107M1119 1MM0M 4690080 167N6.10 /67N1M 11M*M 1078/Ma6 WPM 1063061 1M21111884 1M9/0806 117117. SKVNIWMIMMM0/ 210.11400 MAMAS 31N2.00 MINA 10600M 110166 WOWS WMON 00106.01 1L006M 20,01OM AMA 2060000 AMU 41060061 4*0.00110 I►MT-IPMW BVMT aPOMMW1► 140M000 /ONOM 10N6M MNLM I0A6116 WW1* 10M4M 10.15•911 11096.M 11A96.01 MO NA 1103506 WW2* 120N0M 1211M00.06 MMrw7798989081900 • M,B6.6r6N MJMJ70M Owen( 7010 • 11161089 • 101411140 T0Y0w••• I 10.1M/MY 1 1MMmL/ $ LOWmA / ML17W $ tAW.WM $ MAW AMN7A / OMM.MOM 6 M1M1tl / OM/NA7 1 Ola/11/ $ 6MOMN / M7AB.tl 0 WHIN 0 MN1.iMN $ WAMMI.M $ IM1mN Ones PM11 6 16,1M116N $ 1.110611.11 1 2A11771A 1 A1.710M 6 1MO AS I 6 70131A2 / 417647A1 / 1,/711.I16M 5 W071A $ M1/6161 1 41/A08A1 I 441.47141 0 8M,11.42 0 0011. II.M 0 2t601601011 $ 21NL611N $ 146,0701N 2e0w011 O MIT• AY7011t1Y1100K111 MMM,m 1.1111,O7 1.871.17 /,179.17 0171.17 07M1/ 01M., 0176.17 LIM77 LIMIT 1.111411 0179.17 6/7117 1.1111.11 KOWA MAIM W ier • Mumm70M17M. N.1»M Law t1MA 2,116M7 2,1160 MOW 2.1141M MOW 119157 01161.7 L11107 L1MM L7MJ7 1,M62 MMMOO 21/011M IMT• 1AIa6CA71NO01MW001WW1K05 mamas Wits/ 11,61N 11M91M 10211.17 /1NIM 10601./7 11M1A 10147M 116167 16.1.1.1.7 10,001.16 10.211A 10MM MAIM 11166a0 1P11T• MINUS 0PIIMr/ 117MN 1pa0M 1808M 1,1100.110 1,1100.111 7A01.60 .0ILM 1N066 1AMN 166L16 160066 1AMN 1NL1 1NOM 13,603.01 11.00000 IPNOT • ONCE 0OM. AMEX WOMB 11/M41.17 10114A7 11,11116.67 11,6111.67 11.1.1.97 71M/M Items 'tan AT 11.011.67 11716.67 /7AI0 11.61IM 11,111.67 1166111 1Aamass /1,OMM O PM. 0Tla11Oy10/111M00y 17,712.11 M.210A LOOM 1,BIA ONUS 4,0021 spasm MOW LBOA //12A 1,101.11 'Mtn IN111 6.010.17 71,010A6 ?SOW DPW • PAYROLL MOM AND 11 I0181 1MAMA2 MN1M 23,11.14 DAM 12.140.13 ».MOgf »Maas m.N.M »Nan 10M6.» AMU MMMAO 20N0M 111,149.57 OVUM 112.1511119 W IT •MM00LLIAM1M10MAOII 7MMMA WW1? 1W.1M.m 1111.1116.61 11.1160 11111.11,867 1»,1MA7 MINA! 111,111A7 18/1/116A7 1111.10511 119,11100 1M1/017 110,1116.11 7,27/8111106 1N4510M S PIN • 01d1/001M/LM11 017A11N »MILK 'AMA 0.71N rung m,7MM 11.71U0 67,77011 171,726,60 11,79‘10 1,72011 1,7WN Mi110 61,7WN 1,171,710110 1,171JM00 NW• 119PMML0MMMMMMI 011.919.111 81,1111111 /0M1111 12,611M 1244161 11N1n 12.40121 11.061N 14A01M 114161 /1M1M 16.601.01 110761 12,41061 162.612110 10211LN OM7.2POK60M01VB0T6 a I0l7MTAM0MlT 1N1606110 MAMA • 1N1600N • • 1,11/M01A1 • • ONaMM 1N2A1066 1.117.006.00 IPMt•aM =Lw1I1L111 6147421 11M1N 1101A 016LM 1,11641 MOM 1,110.00 11041 1116A 1161A1 11/1401 1.1MM 0/M01 0/MN WPM Mom O MI.OTIOTMO 011N2A 211A4M ROW 76pa1M 70M110 70M1M 70.141.17 10,6414/ 70661M Main *WAS MOMM 7159267 MMBM 666M6M WAWA 21708111114 . /1106098 • 1003110 712A 76101 11078010 111,71018 A160001C.e1 6.... 11600N • 11/M10M 0ee01O.10y Are M IIL2/1N Ta6416666.1 1 4,574842N / 18/1112M 1 16L0W-11 0 1/7N41) 2 1,M0 01.21 / 111M1.11 / OMN0A1 I 1MN1» / m2MMM 11M/m.1 11MN82/ 0 wow, 0 mow 6 OM,MN 2 »»/}papa 1 YMMMM 0 0601A11A 0M0*0* Wow 7 00004$/N 0 IMSJWn1 1 2A10MO.» 111671L02 1 4.70470.711 61MW/.» / 2101n 1 Ltman 0 lamina / ammo 0 gamut 6 (141AMm 0 Maui 6 4.1411N 0 *N/N0M 6 14444721N 6 10210./01N) 00 r6Ma111e 1n0661701101 IMr16011. MMOM 261.710M m.M2u1 MAWA 0A111.13 main 11N128 17982n 97.11115.11 07M60.21 676111n MMOn 61.010.35 sr max 1.641811111.410 781/6066M 01991emus lam Oar Woo. 0MM0M 6 WHJ10N 1 MM11N I 978110116 / mama 6 Memo / steam 6 MNOm 0 Mean 0 61pa116 1 01M001 0 57N192 0 MN0» 1 0JNA1 / 1IM1fIN 0 /N00M10 $ Moe Ostpum• 77M0M1aK61190L 0. MAIM 1m3181 SIA M MN/A arms W.6/7A 11411A 10•671M MAMN 11417718 11.077,10 01,1117N MAMA MAIN MAUL 071MOaM T0Yi0wr0•Pw. 1111.5110.111 0 WORM 1 141177.111 1 MAMA 1 1$467A 0 1117142 $ *MA 0 M177N / *Om 0 0007/A / MOMA 6 16,101N / *NM 0 BATA 0 MAIM 6 141.714.10 $ • CA 0llI a 6•• 6MI/417M / »M/N1M 0 »Na11M 1wAMA01 0a016T61a11e1 0 $1611601611 $ MMBN $ M,101A1 $ A.111111 1 $110691 7 21.11110M 8 1,1»A1 / 11,711661 0 01,1017 0 MASAI 1 ».IMA7 1 01.711017 0 KIWI 1 *Ma 0 121nLMa62 6 122.I4J6aMO I assisaM 11•111aam 1 2.1aMN 0 IMAM 0 11M6113M 111A7A 4 036,7•697 101/310M 0 FOAM 1 4/14,WA0 11MMMM 1 WWI 1 ma1N 4 iiin,WA.11 2 4806I2 0 ANUS / 11111.5.1.411 6 2N1/69A6 I (1A06i1661 • THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYFRONT PARK MIAMI NOTES TO PROPOSED BUDGET MILDRED AND CLAUDE PEPPER BAYFRONT PARK MANAGEMENT TRUST 301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132 TELEPHONE: (305)358-7550 FAX: (305) 358-1211 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 1 of 3 Subject: Detailed Breakdown of Revenue Line Items for FY 2025-2026 Proposed Budget To the Honorable Mayor and the Members of the City Commission, The Bayfront Park Management Trust Finance Department has provided more in-depth information about the revenues in the proposed 2025-2026 budget compared to the previous information submitted to the City of Miami Commission. This comprehensive report details all revenue sources, including General Revenue, Other Income, and significant reserve transfer to support the proposed budget total of $31,041,752. Each line item is supported by detailed explanations of its sources. This enhanced transparency ensures the City Commission has a clear understanding of the Trust's financial strategy to sustain operations, fund capital improvements, and meet obligations for Bayfront Park and Maurice Ferre Park. General Revenue These represent the core operating revenues from park operations, events, agreements, and other sources. • Amphitheater Operation & Management (202): $1,002,941 This revenue it based on the management agreement with Live Nation, which outlines operational and management fees for the amphitheater. The total amount accounts for expected monthly contributions (approximately $83,578 per month, adjusted for the full year), derived from event hosting, ticketing, and facility management services provided under the contract. No other sources contribute to this line item. • Boat Dock Income (101): $792,000 Revenue based on North and South docks rental at Bayfront Park and Maurice Ferre Park. The total is projected from lease agreements with boat operators and users, including seasonal and year-round dockage fees. Breakdown includes approximately $360,000 from Bayfront Park docks (based on usage patterns and rates) and $432,000 from Maurice Ferre Park docks, reflecting higher demand or capacity in the latter. Sources are solely from rental contracts, with no grants or external funding included. • Concessions (105): $1,617,600 Use fee based on agreements with park concessionaires (Food Trucks), Billboards, and Antenna towers. This encompasses revenue from short- term food truck vendors (approximately $177,600 from Bayfront Park concessions) and long-term agreements (approximately $1,200,000 from billboards Worldwide Amherst Media LLC and Crown Castle tower for $$240,000). Sources include percentage -based use fees, fixed rental payments, and revenue shares from advertising and telecom structures, projected from prior years' performance and contract terms. • Event Rental Income (201): $2,402,500 Event Rental income is based on revenue generated by the Ultra Music Festival as well as returning and other fitness events. The MILDRED AN CLAUDF PEPPER BAYFRONT PARK MANAGEMENT TRUST 301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132 TELEPHONE: (305)358-7550 FAX: (305) 358-1211 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 2 of 3 total is derived from park rental fees (under sub -line 201.1), including base rentals, set- up/load-out surcharges, and event -specific charges. Key sources include major events like Ultra (contributing the bulk in March at approximately $2,080,000) and smaller recurring events (e.g., $22,500 in April), with projections based on historical attendance, ticket sales shares, and negotiated rental rates at Bayfront Park. • Film and Video Location Rental (103): $30,000 Revenue based on prior years' experience with film, video, and photo shoots in the parks. The total assumes monthly rentals of approximately $2,500, sourced from location fees charged to production companies for using park spaces. This includes permits for filming in scenic areas, with no additional surcharges or grants; projections account for steady demand from media productions in the Miami area. • Global Agreement Reimbursement (311): $2,000,000 Funds to be used for Capital Improvement only for Maurice Ferre Park, based on the agreement with different Miami -Dade County and the Omni CRA. This total is a one-time or annual reimbursement from intergovemmental agreements, where the Trust receives funds in exchange for park enhancements that benefit the broader community. Sources are exclusively from these public entity partnerships, with no private contributions. • Special Events Grants (222): $588,741 Represents grants received for special events from the City of Miami, Miami -Dade County, and the Miami DDA. The total is projected from grant applications and awards for events like New Year's Eve and Fourth of July, including funding for production costs, marketing, and community outreach. Sources include municipal budgets (e.g., City of Miami contributions), county tourism grants, and DDA economic development funds, calibrated to match historical grant levels and event scales. • Marquee Revenue (106): $30,000 Revenue based on prior years' experience with marquee signage and displays in Bayfront Park. The total assumes monthly revenue of approximately $2,500, sourced from advertising fees or sponsorships for prominent park marquees. This includes contracts with advertisers for visibility during events and daily operations, with no overlap from other concession or event lines. • Miscellaneous Revenue (104): $15,000 Revenue based on previous years' experience with various small sources not fitting other categories. The total is projected from ad -hoc items like minor reimbursements (approximately $1,250 monthly), without specific contracts but grounded in historical miscellaneous inflows. • Parking Operation Income (107): $1,222,000 Revenue projection based on parking operation and the agreement with the City of Miami for street parking. The total includes fees from park lots and adjacent street spaces, sourced from daily/hourly rates, event parking surcharges, and revenue -sharing with the City. Projections account for traffic volume, event -driven spikes, and operational agreements. • Skyview Surcharge: $420,000 Use fees based on surcharge agreement for the Skyview wheel or similar attractions. The total is derived from percentage -based surcharges on MILDRED AND CLAUDE PEPPEA BAYFRONT PARK MANAGEMENT TRUST 301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132 TELEPHONE: (305)358-7550 FAX: (305) 358-1211 THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 3 of 3 ticket sales or operations, sourced from the operator's agreement with the Trust. This reflects projected visitor numbers and attraction popularity. • Special Event Sponsorship (108): $120,000 Represents income received by an organization, often nonprofits, government agency, or event organizer in exchange for promotional benefits. The total is from sponsorship deals for events, including branding rights, logos on materials, and on -site activations. Sources include corporate, nonprofit, and public sponsors supporting park events. Total General Revenue: $10,240,782 This aggregate represents the sum of all proposed general revenue line items, providing the primary funding for operations before expenses. NOT INCLUDING THE RESERVE TRANSFER FUNDS AND GENERAL FUND • Return Fund to the City of Miami (BPRMT - Return Fund to the City of Miami): Proposed $500,000. The amount is approved by the board to return the funds to the city from last year's donation. • Reserve Transfer Funds (Transfers Funds) — Proposed $20,300,970 Final Conclusion The proposed budget for the Bayfront Park Management Trust for FY 2025-2026 totals $31,041,752 fully supported by the comprehensive inclusion of all revenue line items. Each revenue line item is derived from the provided budget documents and notes, with sources and amounts validated to ensure accuracy, and a reserve transfer is included to align with the specified total. This conclusion integrates the operational revenues, and a reserve transfer funds to meet the Trust's financial needs for operations, capital improvements, and oblig>ltions. •hS.sa: 0/ Deputy Executive Director Date: September 16, 2025 Raul Miro 1r. Executive Direc r THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Administrative Expenses BPMT-AUTOMOBILE EXPENSES 3326 Park Vehicle Maintenance and Repairs: Proposed $4,000. These funds will be used for routine maintenance and repairs of the Park's pick-up trucks. This will include tires, tune-ups and complete vehicle maintenance. 3330 Gator Maintenance & Repairs: Proposed $14,842. These funds will be used for maintenance and repair of the Trust's five John Deere Gators. 3326.1 Park Vehicle Gas: Proposed $7,200. These funds will be used for gas expenses for all our fleet. BPMT-EQUIPMENT RENTAL 3328.1 Equipment Leasing & Rentals: Proposed $15,000. These funds will cover the cost of a wide range of equipment rentals necessary for the ongoing maintenance of Bayfront and Maurice Ferre Park. 3328.2 Equipment Repairs: Proposed $13,000. These funds will cover the cost of a wide range of equipment repairs necessary for the ongoing maintenance of Bayfront and Maurice Ferre Park. 3329 Miscellaneous Supplies: Proposed $10,000. These funds will allow designated staff members to purchase miscellaneous supplies as the need arises. BPMT-LANDSCAPING & TREE MAINTENANCE 3313.1.1 Tree Health Monitoring: Proposed $15,000 for Bayfront Park and Maurice Ferre Park. These funds will be used to pay for professional services to monitor the health of our trees. 3313.1.2 New Plants and Shrubs: Proposed $15,000. for Bayfront Park and Maurice Ferre Park. These funds will be used to replace damaged or dying plants as needed. 3318 Fertilizer & Chemicals: Proposed $15,000. These funds will be used to fertilize the turf, palms, shrubs and deciduous trees in Bayfront and Maurice Ferre Park. 3356 Facilities Cleaning Contractor: Proposed $88,500. Cleaning services are provided for both parks. 4500 Landscaping Services: Proposed $85,000. Landscaping Maintenance for both parks. BPMT-LICENSES AND PERMITS THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 5506 Permits: Proposed $12,000. For services provided to request permits for the office and events. BPMT-OFFICE AND GRAL. ADMIN. EXPENSES 1112 Computer Supplies and Software: Proposed $3,240. For the annual renewal of the accounting software and other required add-ons. 1113 Courier: Proposed $500. These funds will be used to procure courier services. 1115 Equipment Rental/Maintenance: Proposed $3,000. These funds will be used for office equipment rental, lease and maintenance contracts. Includes the postage machine and the copier. 1116 Postage: Proposed $1,200. These funds will be used to purchase postage and the ren 1117 Printing: Proposed $2,500. These funds will be used to pay expenses related to printing. 1118 Office Supplies: Proposed $8,000. These funds will be used to purchase office supplies. 1119 Telephone and Cable Services: Proposed $5,800. These funds will be used to procure telephones. 1125 Meeting Expenses: Proposed $16,800. These funds will be used for expenses associated with the monthly Board Meetings and employee's appreciation meetings of the Bayfront Park Management Trust. 1127 Business Expenses: Proposed $3,000. These funds will be used for general business expenses. 1129 Property Insurance: Proposed $50,000. These funds will be used to purchase Property Insurance for Trust property not adequately covered by the City of Miami Self Insurance Fund. 2222 Website Production and Design: Proposed $30,000. These funds will be used to pay for website production and design services for the Bayfront Park Management Trust website. 3325 Uniforms: Proposed $12,000. These funds are used to purchase and maintain uniforms for the park maintenance staff. 1111 Miscellaneous Expenses: Proposed $6,000. These funds will be used for miscellaneous purchases of goods or services required during the year. BPMT-PAYROLL BENEFITS AND EXPENSES THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 1106 Worker's Compensation Insurance: proposed $33,241. These funds will be used to purchase workers' compensation insurance for Trust administrative employees. 1107 Health & Dental Insurance Contribution: Proposed $154,000. These funds will be used to purchase health, dental and vision insurance for Trust employees. 1108 Life Insurance & Disability Contribution: Proposed $5,958. These funds will be used to purchase life and disability insurance for Trust employees. 3308.1 Employees' Retirement Plan: Proposed $35,525. These funds will be used for the Executive Director and employees' retirement plan. 3308.2 Employees Expense Allowance: Proposed $54,000. These funds will be used to give each employee an allowance of $300.00 monthly to help with the rising cost of living. BPMT-PAYROLL SALARIES AND WAGES 1100 Salaries and Wages Admin.: Proposed $463,358. This includes the salary of the administrative employees who provide overall management for the Bayfront Park Management Trust. Payroll costs of the administrative employees are proposed for $79,509. 2200 Salaries and Wages - Sp. Events: Proposed $123,492. This includes the salary of the Special Events Manager as well as the consideration of a new Event Coordinator. Payroll costs of the Event Dept. employees is proposed for $9,447. 2201 Salaries and Wages Maintenance: Proposed $484,623. This includes the potential hiring of 3 new maintenance technicians and a new tree and garden expert. Payroll Cost is proposed for $54,669, which includes the cost for the proposed overtime of $90,000. BPMT-PROFESSIONAL FEES 1131 Bookkeeping Services: Proposed $95,800. These funds will be used for the Bayfront Park Management Trust bookkeeping service. 1132 Audit: Proposed $27,500. These funds will be used to procure the annual audit of the Trust's finances. 1138 Parking Attendant Service: Proposed $78,000. These funds will be use to pay extended time for parking service. 3337 Alarm Monitoring Services: Proposed $2,400. These funds will be used for alarm monitoring services in the administrative offices. 3352 Private Security: Proposed $725,000. These funds will be used to hire private secuaty from an existing City of Miami contractor to provide 24-hour security in Bayfront Park and Maurice Ferre Park. THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. 3800.1.1 40 Year Recertification: Proposed $150,000 to be allocated for the 40 Year Recertification due for the building at Bayfront Park. 3800.1.2 Board meeting Transcript Services: Proposed $12,000 to pay for the transcript services provided at the board meetings. 3800.1.3 Land Surveys and Appraisals: Proposed $40,000. Funds to be allocated for land assessments and surveys as required. Merchant Processing Fees: Proposed $42,000. These funds are deducted from parking lot income from the merchant company that services our card reading machines. BPMT-REPAIRS & MAINTENANCE 3315 Fence and Site Improvements: Proposed $3,000. These funds will be used for expenses associated with the maintenance of the fence around the property. 3317 Exterminator: proposed $3,500. These funds will be used for a contract exterminator, to keep rodents and insects to a minimum in Trust facilities. Sculptures Maintenance proposed $9,000. These funds will be used to maintain and upgrade Bayfront and Maurice Ferre Parks' sculptures. 3324 Painting and Accessories: Proposed $20,000. These funds will be used to contract a painting service provider and painting materials to paint the Bayfront Park Offices and around both parks. 3331 Park Electrician Ongoing Maint.: Proposed $12,000. These funds will be allocated for the need of electrical work around the office and Parks. 3332 Lift Station and Pump Services: Proposed $12,600. These funds will be allocated for expenses related to the lift station and the pumps around both Parks. 3333 Electrical Maintenance Material: Proposed $18,000. These funds will be used for receptacles and miscellaneous hardware related to the Bayfront Park electrical system. This will cover most receptacles within park buildings, admin. Offices, service buildings and amphitheater. 3349 General Plumbing Repair and Maintenance: Proposed $9,779. These funds will be used for plumbing repair and maintenance throughout Bayfront Park, all restrooms, toilets, sinks, and showers in the amphitheater, south end service building, light tower complex, and administrative offices. 3350 Maintenance of Irrigation Pumps: Proposed $12,000. These funds will be used to maintain the Park's irrigation pumps, located in the pump station adjacent to the Mildred & Claude Pepper Fountain and the south -end service building. 3359 Repairs & Maintenance: Proposed $62,133. These funds will be used for unforeseen expenses associated with both parks caused by rain, strong winds, etc. THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BPMT-SPONSORED EVENTS & ENTERTAIMENT Fourth of July: Proposed $400,000. These funds will be allocated for the 4th of July event. New Year's Eve: Proposed $2,800,000 These funds will be allocated for the New Years event. BPMT-SUPPLIES AND MATERIAL 3319 Signage: Proposed $6,000. These funds will be used for maintenance of existing signage in Bayfront Park and Maurice Ferre Park. 3329 Miscellaneous Supplies: Proposed $12,000. These funds will be used to purchase supplies and other materials needed around the office and parks. 3346 Cleaning Supplies: Proposed $9,000. These funds will be used to purchase cleaning supplies and other materials needed to keep the park's administrative offices clean. 3346.1 Trash Bags: Proposed $9,000. These funds will be used to purchase trash bags for all park needs. 3346.2 Hand Towels: Proposed $4,000. These funds will be used to purchase hand towels for use in the park's restrooms. 3346.3 Toilet Tissue: Proposed $3,000. These funds will be used to purchase toilet tissue for use in the park's restrooms. 3346.4 Hand Soap: Proposed $2,000. These funds will be used to purchase hand soap for use in the park's restrooms. 3346.5 Bleach: Proposed $500. These funds will be used to purchase bleach for use in the park's restrooms. 3346.5 Doggy Bags: Proposed $9,491. These funds will be used to purchase doggie bags for use in park's common areas. 3351 Turf and Irrigation Supplies: Proposed $7,169. These funds will be used to maintain and upgrade Bayfront and Museum Parks' turf and irrigation system. BPMT-UTILITIES 3338 Miami -Dade County Water and Sewer: Proposed $650,000. These funds will be used for all water and sewage services supplied by Miami -Dade County Water & Sewer Department. 3339 FP&L Utilities: Proposed $196,500. These funds will be used to purchase electrical services from FP&L and include an increase to cover projected rate changes. THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BPMT-OTHER BUSINESS EXPENSES 33340 Other Business Expenses: Proposed $73,000. These funds will be used for ordinary and necessary costs of operating the business that does not fall under standard expenses. BPMT- Return Fund to the City of Miami: $500,000. THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. BAYFRONT PARK MIAMI BAYFRONT PARK MANAGEMENT TRUST CAPITAL IMPROVEMENT BUDGET FISCAL YEAR 2025/2026 Bayfront Park Management Trust Capital Improvements Funds Report Fiscal Year 2025/2026 Total Capital Improvements Funds: $21,691,000 1. Bayfront Park Projects Description Landscaping General Improvements at Bayfront Park Office Building Improvements Dock Repairs Promenade Total — Bayfront Park 2. Maurice Ferre Park Projects Description Play Area Fencing New Playground/Gym equipment Lighting Landscape Design Seawall Repair Power/Water Treatment Dockage Storage Facility Maintenance Total — Maurice Ferri Park THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Amount Notes $150,000 $1,500,000 Lighting, Monuments, Promenade $9,500,000 $3,200,000 $3,000,000 $17,350,000 Amount $275,000 $800,000 $750,000 $300,000 $800,000 $1,000,000 $416,000 $4,341,000 Total Capital Improvements Funds Allocated: $21,691,000 Bayfront Park Management Trust Budget Template FY 2O25-26 Proposed Budget Exhibit B SUBSTITUTED FY 2022-23 Actual FY 2023-24 Actual FY 2024-25 Amended FY 2024-25 Projection FY 2025-26 Proposed Difference Notes Number of Full -Time Positions 16 15 21 15 17 0 Are any positions funded in other budgets? No No No No NO If so, how much is in this budget? No No No No No If so, how much is in the other budget? No No No No NO Revenues A1 AmphiteatherOperations &Mgt $931,802 $993,373 $1,002,941 $1,002,941 $1,002,941 $0 Boat Dock Income $576,881 $712,979 $792,000 $792,000 $792,000 $0 Concessions $802,257 $539,738 $1,199,600 $1,199,600 $1,199,600 $0 Event Rental Income $2,718,125 $3,032,326 $2,402,500 $2,402,500 $2,402,500 $0 Film & Video Location Rental $41,391 $28,500 $30,000 $30,000 $30,0.' $0 Global Agreement Reimbursement $2,000,000 $2,000,000 $2,000,000 $2,000,000 $2,0.',.00 $0 Grants $1,112,951 $540,786 $535,000 $588,741 88,741 -$53,741 Micellaneous Revenues $507,773 $532,263 $15,000 $15,000 $15,000 $0 Marquee Revenue $15,000 $125,557 $30,000 $30,000 $30,000 $0 Parking Operation Income $1,303,903 $1,412,399 $1,222,000 $1,222,000 $1,222,000 $0 Special Event Sponsorship $155,200 $165,150 $0 $120,0s• $120,000 -$120,000 Reserve Transfer Funds $8,106,221 $16,198,244 $20,300,970 $18,4 9 $20,300,970 $0 General Fund $0 $0 $0 $0 $500,000 -$500,000 Return $500k to the City of Miami Skyview Surcharge $247,512 $645,419 $420,000 $420,000 $420,000 $0 Revenue Grand Total $18,519,016 $26,926,734 $29,950,011 $28,260,011 $30,623,752 -$673,741 Expenditures Regular Salary and Wages $763,174 $1,010,798 $1,305,09: $1,305,098 $1,550,000 -$244,902 Payroll Benefits and Expenses $164,486 $206,488 $28 4 $282,724 $282,724 $0 City of Miami $0 $0 $0 $0 $500,000 -$500,000 Return $500k to the City of Miami FICA Taxes $0 $0 $0 $0 $1,185,750 $0 Retirement Contributions $0 $0 $0 $0 $155,000 $0 Life and Health Insurance $0 $0 $0 $0 $0 $0 Workers' Compensation $0 $0 $0 $0 $0 $0 Unemployment $0 . ' $0 $0 $0 $0 Professional Services $506,379 -..,736 $1,172,700 $1,172,700 $1,172,700 $0 Sponsored Events & Entertainment $1,270,174 ,362,217 $1,382,500 $1,782,500 $1,782,500 -$400,000 Other Contractual Services $0 $0 $0 $0 $0 $0 Other Contractual Services - Grants $0 $0 $0 $0 $0 $0 Office & Gral. Admin. Expenses $191,210 $183,080 $142,040 $142,040 $142,040 $0 Communications and Related Services $0 $0 $0 $0 $0 Postage $0 $0 $0 $0 $0 $0 Rentals and Leases $0 $0 $0 $0 $0 $0 Repair and Maintenance Services $374,186 $426,468 $162,012 $162,012 $162,012 $0 Maintenance -Landscape $71,541 $122,247 $198,500 $198,500 $198,500 $0 Utilities $468,031 $623,317 $846,500 $846,500 $846,500 $0 Promotion Expense $0 $0 $0 $0 $0 $0 Interest Income & Dividends $0 $1,056,243 -$1,045,000 -$1,045,000 $1,045,000 -$2,101,243 Depreciation Expense $469,551 $509,488 $671,735 $671,735 $671,735 +$162,247 Office Supplies $0 $0 $0 $0 $0 $0 Operating Supplies & Mate . $32,283 $67,838 $62,160 $62,160 $62,160 $0 Automobile Expenses $24,471 $32,736 $26,042 $26,042 $26,042 $0 Uniforms/clothin_ $0 $0 $0 $0 $0 $0 Landscape Rel : Supplies $0 $0 $0 $0 $0 $0 Permits -• icenses $399 $6,504 $12,000 $12,000 $12,000 $0 Equi.- t Rental $11,292 $22,791 $38,000 $38,000 $38,000 $0 ingency Reserve $0 $0 $0 $0 $2,188,089 $0 Bayfront Park Management Trust Budget Template FY 2O25-26 Proposed Budget Exhibit B FY 2022-23 Actual FY 2023-24 Actual FY 2024-25 Amended FY 2024-25 Projection FY 2025-26 Proposed I SUBSTITUTED Difference Notes Number of Full -Time Positions 16 15 21 15 17 0 Are any positions funded in other budgets? No No No No NO If so, how much is in this budget? No No No No No If so, how much is in the other budget? No No No No NO ' Other Business Expenses $158,901 $236,671 $73,000 $73,000 $73,000 $0 Capital Expenditures $11,650,000 $26,077,573 $22,530,000 $22,530,000 $15,530,000 -$3,547,873 $0 $0 $0 $0 $0 $0 Expenditure Grand Total $16,156,078 $32,635,495 $27,860,011 $28,260,011 $30,623,752 -$6,631,771 Revenue Minus Expenditures $2,362,938 ($5,708,761) $2,090,000 $0 $0 $0 $5,958,030 Prepared by: