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Home My WebLink AboutExhibit A-SUBTHIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. ESTD 1886 BAYFRONT PARK MANAGEMENT TRUST MEMORANDUM To: The Honorable Mayor and the Members of the City Commission From: Raul Miro Jr., Interim Executive Director Date: February 3, 2026 Subject: Summary of Budget Amendments FY 2025/2026 This memorandum summarizes amendments to the proposed FY 2025/2026 budget • BPMT — Sponsored Events and Entertainment increased from $3,200,000 to $4,800,000, an increase of $1,600,000, to support the 250th Anniversary of the United States 4th of July event. • Capital Expenditures decreased from $22,530,000 to $20,930,000, a reduction of $1,600,000, to offset the increase in Sponsored Events and Entertainment. 3. Notes to the Proposed Budget • Sponsored Events and Entertainment: Funding increased to support planning and execution of events commemorating the 250th Anniversary of the United States. • Capital Expenditures: Funding reduced to maintain budget balance. Summary: The amendments reallocate $1,600,000 from Capital Expenditures to Sponsored Events and Entertainment, increasing Sponsored Events funding to $4,800,000 and reducing Capital Expenditures to $20,930,000, with no net impact to the overall bu ' t. Raul Miro Jr. Interim Executiv Director PHONE: (305) 358-7550 I FAX: (305) 358-1211 301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132 18883 Exhibit A -SUB THIS DOCUMENT IS A SUBSTITUTION TO ORIGINAL. BACKUP ORIGINAL CAN BE SEEN AT END OF THIS DOCUMENT. Bayfront Park Management Trust Budget Template FY 2025-28 Amended Budget FY 2022.23 Actual FY 2023-24 Actual FY 2025-26 Adopted FY 2025-26 Projection FY 2025.26 Amended DBhrenpINotes Number of Full -Time Positions 16 15 16 21 17 +1 Are any positions funded in other budgets? No No No No NO If so, how much is in thls budget? No No No No No if so, how much is in the other budget? No NO No No NO Ravened Amphiteather Operations & Mgt $931,802 $993,373 $1,002,941 $1,002,941 $1,002,941 50 Boat Dock Income $576,881 $712,979 $792,000 $792,000 $792,000 fir,- $0 Concessions $802,257 S539,738 $1,617,600 $1,617,600 $1,617,600 50 Event Rental Income 52,718,125 $3,032,326 $2,402,500 $2,402,500 $2,402,500 lomensri "''. •'' '-_ SO Film & Video Location Rental $41,391 $28,500 $30,000 $30,000 $30,000 :. ': ... S0 Global Agreement Reimbursement $2,000,000 $2.000,000 $2,000,000 52,000,000 S2,000,000 r S0 Grants $1,112,951 $540,786 $588,741 $588,741 $588,741 50 Micellaneous Revenues Marquee Revenue Parking Operation income Special Event Sponsorship Reserve Transfer Funds General Fund Skyview Surcharge S507,773 5532,263 515,000 $15,000 $15,000 S0 $15,000 5125,557 $30,000 $30,000 530,000r S0 $1,303,903 $1,412,399 $1,222,000 $1,222,000 $1,222,000 50 $155,200 $165,150 $120,000 $120,000 $120,000 SO $8,106,221 $16,198,244 $20,300,970 $20,300,970 $20,300,970 SD 50 S0 $500,000 $0 5500,000 woommarmr, SO $247,512 5645,419 $420,000 $420,000 5420,0001 1 50 Revenue Grand Total $18,519,016 $26,926,734 $31,041,752 $30,541,752 $31_,041,752 $0 Expenditures Regular Salary and Wages $763,174 $1,010,798 $1,305,098 $1,305,098 $1,305,098 50 Payroll Benefits and Expenses $164,486 $206,488 $282,724 $282,724 $282,724 $0 City of Miami r _ _. 1 $500,000 $500,000 $0 Professional Services $506,379 $690,736 $1,172,700 $1,172,700 $1,172,70 50 Sponsored Events & Entertainment $1,270,174 $1,362,217 $3,200,000 $1,782,500 $4,800,000 +$1,600,000 250 yr Anniversary of the United States Office & Gral. Admin. Expenses $191,210 $183,080 $142,040 $142,040 $142,040 S0 Repair and Maintenance Services $374,186 $426,468 $162,012 $162,012 $162,012 S0 Maintenance -Landscape $71,541 $122,247 $198,500 $198,500 5198,500 50 Utilities $468,031 $623,317 $846,500 $846,500 $846,500 50 Interest Income & Dividends $0 $1,056,243 -$1,045,000 -$1,045,000 -$1,045,000 $0 Depreciation Expense $469,551 $509,488 $671,735 $671,735 $671,735 w._ 50 Operating Supplies $32,283 $67,838 $62,160 $62,160 $62,160 � 50 i Automobile Expenses $24,471 $32,736 $26,042 $26,042 $26,042 M 50 i Permits and Licenses $399 $6,504 $12,000 $12,000 $12,000 .. 50 !_ Equipment Rental $11,292 $22,791 $38,000 $38,000 $38,000 �� S0 1 ' Contingency Reserve $01 1 $864,241 $1,863,741 $864,241 r..�.wrl 90 Other Business Expenses $158,901 $236,671 $73,000 $73,000 $73,000 ~ em 50 - Capital Expenditures $11,650,000 $26,077,873 $22,530,000 $22,530,000 $20930000 41,600,000 Expenditure Grand Total $16,156,078 $32,635,495 $31,041,752 $30,123,752_ $31,041,752 $0 l"':� ESTD 1986 SUBSTITUTED BAYFRONT PARK MANAGEMENT TRUST MEMORANDUM To: The Honorable Mayor and the Members of the City Commission From: Raul Miro Jr., Interim Executive Director Date: February 3, 2026 Subject: Summary of Budget Amendments — FY 2025/2026 This memorandum summarizes amendments to the proposed FY 2025/202 udget • BPMT — Sponsored Events and Entertainment increase • om $3,200,000 to $4,800,000, an increase of $1,600,000, to support the 250th Anniversary of the U ' ed States 4th of July event. • Capital Expenditures decreased from $22,530,000 i $20,930,000, a reduction of $1,600,000, to offset the increase in Sponsored Events and Entertainment. 3. Notes to the Proposed Budget • Sponsored Events and Entertainme Funding increased to support planning and execution of events commemorating the 250th Anniver of the United States. • Capital Expenditures: Fund' t reduced to maintain budget balance. Summary: The amendments reallocate increasing Sponsored Eve impact to the overall b Raul Inter oJr. Executi Director ,600,000 from Capital Expenditures to Sponsored Events and Entertainment, funding to $4,800,000 and reducing Capital Expenditures to $20,930,000, with no net et. PHONE: (305) 358-7550 I FAX: (305) 358-1211 301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132 Bayfront Park Management Trust Budget Template FY 2025-26 Proposed Budget FY 2022-23 Actual SUBSTITUTED FY 2023-24 Actual FY 2024-25 Adopted FY 2024-25 Projection FY 2025-26 Proposed Differencel Notes 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 Revenues Amphiteather Operations & Mgt Boat Dock Income Concessions Event Rental Income Film & Video Location Rental Global Agreement Reimbursement Grants Micellaneous Revenues Marquee Revenue Parking Operation Income Special Event Sponsorship Reserve Transfer Funds General Fund Skyvie s Surcharge Revenue Grand Total $931,802 $576,881 $802,257 $2,718,125 $41,391 $2,000,000 $1,112,951 $507,773 $15,000 $1,303,903 $155,200 $8,106,221 $247,512 $18,519,016 $993,373 $712,979 $539,738 $3,032,326 $28,500 $2,000,000 $540,786 $532,263 $125,557 $1,412,399 $165,150 $16,198,244 $645,419 $26,926,734 $1,002,941 $792,000 $1,199,600 $2,402,500 $30,000 $2,000,000 $535,000 $15,000 $30,000 $1,222,000 $0 $20,300,970 $420,000 29.950.011 $1,002,941 $792,000 $1,199,600 $2,402,500 S30,000 $2,000,000 $588,741 $15,000 $30,000 $1,222,000 $420,000 53D.123.752 $1,002,941 $792,000 $1, 617,600 $2,402,500 $30 $2.+. ,000 588,741 $15,000 $30,000 $1,222,000 $120,000 $20,300,970 $500,000 $420,000 31.041.752 $0 $0 -$418,000 $0 $0 $0 -$53,741 $0 $0 $0 -$120,000 $0 -$500,000 $0 -$1,091,741 Return $500k to the City of Miami Expenditures - - - Regular Salary and Wages $763,174 $1,010,798 $1,305,0' • $1,305,098 $1,305,098 $0 Payroll Benefits and Expenses $164,486 $206,488 $2: 4 $282,724 $282,724 $0 City of Miami `. ` ." "� = $500,000 - -$500,000 Return $500k to the City of Miami FICA Taxes -, - Retirement Contributions Life and Health Insurance Workers' Compensation Unemployment $1,172,700 Professional Services $506,379 ' r,736 $1,172,700 $1,172,700 - $0 Sponsored Events & Entertainment $1,270,174 $1,382,500 $1,782,500 S4,800,000 -53,417,500 250 yr Anniversary of the United States Other Contractual Services Other Contractual Services - Grants 441111111 • Office & Gral. Admin. Expenses $191, $183,080 $142,040 $142,040 $142,040 $o Communications and Related Services _ Postage Rentals and Leases Repair and Maintenance Services F $374,186 $426,468 $162,012 $162,012 $162,012 $0 Maintenance -Landscape ry $71,541 $122,247 $198,500 $198,500 $198,500 . $0 Utilities Promotion Expense Interest Income & Dividends $468,031 $0 $623,317 $1,056,243 $846,500 -$1,045,000 $846,500 -$1,045,000 $846,500 -$1,045,000 $0 $0 Depreciation Expense Office Supplies $469,551 $32,283 - $509,488 $67,838 - $671,735 $62,160 $671,735 $62,160 $671,735 $62,160 $0 Operating Supplies $0 Automobile Exp> es $24,471 $32,736 $26,042 $26,042 $26,042 $0 Uniforms/d• ng Landsca. elated Supplies Bayfront Park Management Trust Budget Template FY 2025-26 Proposed Budget SUBSTITUTED FY 2022-23 Actual FY 2023-24 Actual FY 2024-25 Adopted FY 2024-25 Projection FY 2025-26 Proposed Difference) Notes Number of Full -Time Positions 16 15 16 21 17 +6 Are any positions funded in other budgets? No No No No NOPr 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 Equipment Rental $11,292 $22,791 $38,400 $38,000 $38,000 $0 Contingency Reserve $0 $2,090,000 $1,863,741 $864,241 $0 Other Business Expenses $158,901 $236,671 $73,000 $73,000 $73,000 $0 Capital Expenditures $11,650,000 $26,077,873 $22,530,000 $22,530,040 $20,930,000 $0 Expenditure Grand Total $15,156,078 $32,635,495 $29,950,011 $30,123,752 $31,041,7 -53,917,500