HomeMy WebLinkAboutSubstitution Memo from City AttorneyCITY OF MIAMI
OFFICE OF THE CITY ATTORNEY
MEMORANDUM
TO: Honorable Mayor and Members of the City Commission
FROM: George K. Wysong III, City Attorney yeorgox. Wy orrr
DATE: February 10, 2026
RE: Substitution of RE.16 on the February 12, 2026, City Commission Meeting
Amended Budget - Bayfront Park Management Trust
File No.: 18883
Item RE.16 on the February 12, 2026, City Commission Meeting Agenda
proposes approving the amended budget for the Bayfront Park Management Trust
("Trust").
The legislation is being substituted solely to update Exhibit "A" to reflect the FY
25-26 Adopted Budget compared to the FY 25-26 Amended budget. The total budget of
the Trust remains unchanged and the budget line items being amended also remain
unchanged.
cc. James Reyes, City Manager
Miriam Santana, Agenda Coordinator
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1886
BAY -FRONT
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 Executi Director
PHONE: (305) 358-7550 I FAX: (305) 358-1211
301 N. BISCAYNE BOULEVARD, MIAMI, FL 33132
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
Differenal_Notes
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 this budget?
No
No
No
No
No
If so, how much is 1n the other budget?
No
No
No
No
NO
Revenues
t
J
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
$0
Concessions
$802,257
5539,738
$1,617,600
$1,617,600
$1,617,600
rr
$0
Event Rental Income
52,718,125
$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
$30,000
S0
Global Agreement Reimbursement
$2,000,000
$2.000,000
$2,000,000
52,000,000
$2,000,000
S0
Grants
$1,112,951
$540,786
$588,741
$588,741
$588,741
$0
Micellaneous Revenues
Marquee Revenue
Parking Operation income
Special Event Sponsorship
Reserve Transfer Funds
General Fund
Skyview Surcharge
$507,773
5532,263
$15,000
$15,000
$15,000
S0
$15,000
$125,557
$30,000
$30,000
530,000
menemeem
S0
$1,303,903
$1,412,399
$1,222,000
$1,222,000
$1,222,000
$0
$155,200
5165,150
$120,000
$120,000
$120,000
S0
$8,106,221
$16,198,244
$20,300,970
$20,300,970
$20,300,970
���
SD
50
S0
5500,000
$0
5500,000
SO
$247,512
5645,419
$420,000
$420,000
$420,0001
1 50
Revenue Grand Total
$18,519,016 $26,926,734 $31,041,752 $30,541,752 $31_,041,752 S0
Expenditures
Regular Salary and Wages
$763,174
$1,010,798
S1,305,098
$1,305,098
$1,305,
$0
Payroll Benefits and Expenses
$164,486
$206,488
$282,724
$282,724
$282,724
S0
City of Miami
$500,000
',
5500,000
$0
Professional Services
$506,379
$690,736
$1,172,700
$1,172,700
$1,172,700
$0
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
$0
Maintenance -Landscape
$71,541
$122,247
$198,500
$198,500
5198,500
S0
Utilities
$468,031
$623,317
$846,500
$846,500
$846,500
$0
Interest Income & Dividends
$0
$1,056,243
-$1,045,000
-$1,045,000
-$1,045,000
S0
Depreciation Expense
$469,551
$509,488
$671,735
$671,735
$671,735
50
Operating Supplies
532,283
567,838
$62,160
$62,160
$62,160enearxemee
ommommoM...
S0
,
Automobile Expenses
$24,471
$32,736
$26,042
$26,042
$26,042
S0
Permits and Ucenses
$399
$6,504
$12,000
$12,000
$12,000
...ems
$0
!_
Equipment Rental
$11,292
$22,791q
$38,000
$38,000
$38,000
_
S0
1
Contingency Reserve
$01
1
$864,241
$1,863,741
$864,241
��
S0
Other Business Expenses
$158,901
$236,671
$73,000
$73,000
$73,000
50
-"
Capital Expenditures
$11,650,000
$26,077,873
$22,530,000
$22,530,000
520,930.000
41,600,000
Expenditure Grand Total
$16,156,078
$32,635,495
$31,041,752
$30,123,752_ $31,041,752
$0
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