The URL can be used to link to this page

Home My WebLink AboutExhibitamports & exh-ibitionauthority MIAMI SPORTS AND EXHIBITION AUTHORITY OPERATING BUDGET FOR FISCAL YEARN 2015/2016 Table of Contents I. MSEA Members 11. Letter of Introduction III. Budget Summary IV. MSEA Operating Budget MIAMI SPORTS AND EXHIBI`T'ION AUTHORITY Mayor T6mas Regalado, Chairman Connnissioner Francis Suarez, Vice -Chairman Commissioner Marc Sarnoff Commissioner K.eon Hardemon Commissioner Wifredo Gort Nathan Kurland Jay Solowsky Eli Feinberg Anthony Recio Davie Madison Frank Veloso, EXECUTIVE DIRECTOR Lourdes Blanco r sperto &«.r. exhibition authority July 31 ", 2015 Honorable Mayor Toinds Reg-alado and Members of die City Conimission The Miami Sports and Exhibition A.utbority (MSEA) was established in 1983, pursuant to Plorida Statute 212.057, as an independent and autonomous agency and instrumentality of the City of Miami. MSFA was created to promote sports, conventions and exhibitions and to strive to generate conimunity support to achieve this purpose. It was further given die authority to exercise any power usually possessed by private corporations performing similar functions drat are not in conflict with the I lorida constitution or law. In the hast ten years, MSEA has successfully auctioned off the Miami Arena and other associated properties, reaping over $36,001,00 From the scales as well as returning those properties to lie tax rolls, MSEA continues to serve the community ras the landlord of the Children's Museum, the heliport and seaplane operations at Watson Island. rl he att:ached budget will enable MSEA to fulfill its mandate. The budget was unanimously approved by the MSEA board at ifs July 21", 2015 meeting, and I would respectfully request that you do the same. Thank you in advance fbr your assistance, ly, es Blanco tive Director Enc. cc: Cale MIAMI SPORTS & EXHIBITION AUTHORITY 3,900 Pan Americ" Drive, Miami, FL 33133 / t305t 416-110.5 MIAMI SPORTS AND EXHIBITION AUTHORITY l irca t� dRid A FISCAL YEAR 20152016 1 Proposed DESCRIPTION 2015-2016 Budget REVENUES Heliport/Seaplane Base R Rent MSEA Reserve Funds/Non Restrictive Funds TOTAL REVENUE 607,488 T, ]Payroll, Taxes and Benefits COMPENSATION AND BENEFITS 1 Executive. Director. 14,000 2 Administrative Services. .:..• ;':`,. :..• .::.: 16,000 Insursn;ce Ikli e It.t_, life, disability 5,000 35,000 4Fedessrst _ ...., ... ale/ral :Taxes,.. Medicare 1-36,302 1,302 Total Payroll, Taxes and Bencimts II, Operating Expenses 5 Business Meeting Expenses 11500 6: CoUrierlDeq'very':` 100 7 Contingencies s 000 .. General Insurance:_ DiCeetorS: Uabiltty:Irtsuranc® 13 00Q 9 Car Allowance 5,400 10 Memberships7Subscrlptions boo Office Supplies 20 13 Phone/Table PC Allowance 3,400 14 100 Postage ...::...50. TOTAL OPERATING EXPENSES 33,750 III. PROFESSIONAL SERVICES 16 Audit 10,000 IT, Bank Services goo` "ES AQCpltpttn� Sarva"ces: TOTAL, PROFESSIONAL SERVICES 1a,aa3 TOTAL OPERATING EXPENSES 88,935 IV. CAPITAL (EXPENDITURES 19 OFFICE EQUIPMENT PURCHASES TOTAL CAPITAL EXPENDITURES TATA . O:PE 2ATINO $LTAG T �V/. AV T__L' P NDX I UI�IaS _ ;.. 0 935 Excess( shortage) of Revenue over Expenses 518,553 Miami Sports and Exhibition Authority Operating Budget Notes to Proposed Budget for 20.1.5/2016 General Revenue Rent Revenue, and Reserves: MSEA Watson Island Seaplane Baser $72,000.00 ($6,000.00 month), Heliport: $45,600.00 ($3,800.00 month.). MSEA, Reserve Funds/Non- Restrictive Funds: $48908.21 General Expenses 1. Payroll, Taxes and Benefits Executive Director: proposed $14,000.00. The Executive Director provides overall management for the Miami Sports and Exhibition Authority. SS/State and Federal Taxes, Medicare Contribution: $1, 302..00. These fiends will be used for Social Security, State and Federal Taxes, and Medicare costs of Executive Director. ,Administrative Services: Proposed $16,000.00, These funds will be used to pay support staff. Insurance: Proposed $5,000.00. These fltnds will be disbursed to the Executive. Director on a inont'hly basis for health, life and disability insurance coverage. 11. Operating Expenses Business Meeting Expenses: Proposed $1,500.00. These Funds will be used for expenses associated with the Board Meetings of Miami Sports and Exhibition Authority, Courier[Deiivery. Proposed $100.00. These fiends will be used for courier services, Contingencies: proposed $5,000.00, These Rinds will be used for any unforeseen expenses incurred during the year. General Insurance & Directors Liability Insurance: proposed. $13,000,00. These funds will be used to purchase General Insurance & Directors Liability Insurance for Miami Sports and Exhibition Authority. Car Allowance: Proposed $5,400.00. These funds will be disbursed to the Executive Director on a monthly basis for the use of a car. Phone/Table PC Allowance_$3,400,00, These funds will be disbursed to the Executive Director on a monthly basis for use of a phone and/or tablet PC. Membership/Subscriptions: Proposed $500.00. These Rinds will be used primarily to pay State of Florida fees. Warehouse Storage,Services: Proposed $4,500,00. These funds will be used for expenses related to the warehouse storage of the Miami Sports and Exhibition Authority archives. Office agnplies: proposed $200.00. These Rids will be used to purchase office supplies, Postage: proposed $50.00. 'These funds will be used to purchase postage. Printing Services. Proposed $100.00, These funds will be used for printing services. III. Professional Services Audit: proposed $10,000, These funds will be used to pay for the annual audit of MSEA's finances. Bank Services:_Proposed $550.00. These fiends will be used to pay for professional service fees including, but not linuted to bank and state regulatory fees.. Accountin Services: Proposed $8,333.00. These funds will be used to pay for accounting services provided by a certified accounting firm to the Miami Sports and Exhibition Authority, Mia mi i Sport and Exhibition Authority (MSEA) City of Miami' FY 2015-16 Budget Template FY 20711-12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 2014-15 Budget FY 2015-16 Proposed Difference MSEA Watson Island Seaplane Base $72,000 $72,00( Heliport $45,600 $45,60[ MSEA Reserve Fund/€qon-Restrictive Funds $53,500 566,0OQ $66,000 $89,000 $489,900 $400,90C Revenue Grand Total 1$53,500 $66,000 $66,000 $89,000 $607,500 $518,5oC Expenditures Regular Salary & Wages $5,000 $5,000 $20,000 $30,000 $30,000 $C Fringe Benefits FICA Taxes $3,600 $4,800 $8,800 $4,OOC Retirement Contributions $1,300 $1,30C Life & Heafth insurance - Workers' Compensation $5,000 $5,000 $C Professional Services Professional Services -Legal $8,000 $15,000 $5,.100 $5,000 $500 -$4,400 Accounting and Auditing Other contractual Services $15,000 $15,000 $13,000 $14,000 $18,300 $4,306 Travel & Per Diem m Comunications & Related Services $1,300 $3,600 $1,300 $4,600 $4,200 54,200 Postage $100 $3,60D $1o0 $2,400 $4,000 -$4,000 Utility $100 $100 $0 Rentals & Leases 1001$0 Insurance Repair & Maintenance Services $20,000 $25,000 $17,000 $16,000 $13,000 -$3,000 Printing and Binding $100 $loo $100 $0 Printing and Binding -Outsourcing Printing and Binding -Paper Stock Promotional Activities Advertising and Related Costs Other Current Charges & Obligations Office Supplies $100 $600 $300 $200 $20.0 $0 d erating Supplies j .fie - I of 2 FY 2011-12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 2014-15 Budget FY 2015-16 Proposed Difference Motor Fuel Public Safety Supplies Subscriptions, Memberships, Licenses, Permits & Other $200 $500 $SOO $C Machinery &c Equipment Aids to Private Organizations lnterfund Transfer All Other Expenditures $4:00 Budget Reserve $400 $100 $2,000 $100 $11,100 $5,000 $11,000 -$S,OOC Expenditure Grand Total $53,5003 $66,0()0 $66,000 $89,000 $89,000 $t Revenues Minus Expenditures $0 $0 $0 $0 $518,500 $518,50C 2of2 Miami Sport and Exhibition Authority (MSEA) - Expenditures Breakdown City of miomi FY 2015-16 Budget `ti"ernplate 1of2 FY 2011-12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 2014-15 Budget FY 2615-16 Proposed Difference Revenues MS€A Watson island Seaplane Base $72,000 $72,000 Heliport $45,600 $45,600 MSEA Reserve Fund/Non-Restrictive Funds $53,500 $66,000 $66,000 $89,000 $489,900 $400,900 Revenue Grand Total $53,500 $66,000 $66,000 $89,000 $607,500 $538,500 Expenditures RegularSalary & Wages $5,000 $5,000 $20,000 $30,000 $30,000 $0 Executive Director 14,000 Support Staff 16,0000 Fringe Benefits $3,600 $4,800 $8,800 Executive Director's Cat Allowance 5,406 1$4,00(0) D(ecutfite Director's Phone/r"ablet PC 3,400 Atfowance FICA Taxes $1,300 $1,300 Retirement Contributions t_"rfe & Health insurance $5,Q00 $5,000 $0 Workers' Compensation Professional Services $8,000 $15,000 $5,100 $5,000 $600 -$4,4.00 Bank Professional Services and Fees 550 Professional Services -Legal Accounting and Auditing $1.5,000 $15,000 $13,000 $14,000 $18,3Q0 $4,300 Accountng Services 8333 Annual Audit 10,000 other Contractual Services Travel & Per Diem $3,300 $1,300 $1,600 $4,200 -$4,200 Communications 8i Related Services $3,600 $3,600 $2,400 $4;000 -$4,000 Postage $100. $100 $100 $0 Utility$104 $100 $0 Rentals & Leases Insurance $20,000 $25,000 $17,000 $16,000 $13,OOQ -$3,000 Repair& Maintenance Services 1of2 Revenues Minus Expenditures $0 $0 $0 $0 $518,500 $518,500 2 of 2 FY 2011-12 Actual FY 2012-13 Actual FY 2013-14 Budget FY 3014-15 Budget FY 2015-16 Proposed Difference Printing and Binding $100 $100 $100 $0 Printing and Binding -Outsourcing Printing and Bin ding -Paper Stock Promotional Activities Advertising and Related Costs Other Current Charges & Obligations Office Supplies $100 $600 $300 $200 $200 $0 Qperating Supplies $S00 Motor Fuel Public Safety Supplies Subscriptions, Memberships, Licenses, Permits & Other $200 $500 $500 $0 Machinery & Equipment Aids to Private Organizations interiund Transfer All Other Expenditures $400 $400 $100 .$100 $11,100 $11,[}00 Business Meetfng Fxpenses 1,.500 CourlerlDelivery 100 Contingencies 5,000 Warehouse%Storvge 4,500 Budget Reserve $:2,000 $5,000 -$5,000 Expenditure Grand Total $51'.5001 $66,0001 $66,0001 $89,000 $89,040 $0 Revenues Minus Expenditures $0 $0 $0 $0 $518,500 $518,500 2 of 2