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Home My WebLink AboutExhibit AFY 2017 AMENDED BUDGET 4/1012017 2017 TIF Revenue 2017 TIF Rev for Affordable Housing % 2017 Budget for Affordable Housing 2017 TIF Revenue 2017 Administrative Expenditures %Administrative Exp / 2017 TIF Revenue 2017 Budget Reserve Total 2017 Budget % 2017 Budget Reserve / Total 2017 Budget $17,415,309 $1,741,531 Refer to 11e 10 and 11 -Other Grant. 10% $17,415,309 $1,160,350 796 $2,333,170 $26,334,478 9% FY 2017 FY 2017 BUDGET OMNI TAX INCREMENT FUND BUDGET AMENDED PROPOSED VARIANCE BUDGET BUDGET REVENUES CITY OF MIAMI -TAX INCREMENT $10,574,483 $10,798,854 -$224,371 MIAMI DADE COUNTY - TAX INCREMENT (ORIGINAL BOUNDARIES) $6,453,941 $6,453,941 $0 CITY OF MIAMI - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $240,252 $240,252 $0 MIAMI DADE COUNTY - TAX INCREMENT (2009 ADDITION EXPANDED BOUNDARIES) $146,633 $146,633 $0 Total TIF Revenues $17,418,309 TRANSFER FROM MIDTOWN CRA (Administration) $46,632 $0 $46,632 RENTINCOME - MEC $100,000 $100,000 $0 OTHER INCOME - MEC (REIMBURSEMENT FOR 2016 PROPERTY TAXES) $178,177 $112,688 $65,489 RENT INCOME - 1401 LLC $101,481 $101,481 $0 MIDTOWN CRA -CONTRIBUTION TO CRA OPERATING BUDGET $0 $0 $0 LAND $0 $0 $0 FUND BALANCE- OMNI CRA OPERATING BUDGET $0 $0 $0 2017 CHILDREN TRUST CONTRIBUTION $713,820 $0 $713,820 AUDITED FUND BALANCE @ 9/30/2016 $7,779,059 $9,151,422 -$1,372,363 TOTALREVENUE $26,334,478 27,105,271 -$770,793 REDEVELOPMENT EXPENDITURES ACCOUNTING AND AUDIT $15,000 $15,000 $D PROFESSIONAL SERVICES - OTHER $354,700 $3fii,000 -$6,300 OTHER CONTRACTUAL SERVICES $671,657 $300,000 $371,657 INTERFUND TRANSFER (Debt Se(vice) $4,249,500 $4,249,500 $0 INTERFUND TRANSFER (Grant) $1,455,033 $844,015 $611,018 PURCHASE OF REAL ESTATE $2,000,000 $0 $2,000,000 OTHER CURRENT CHARGE $6,095,358 $6,173,888 -$78,530 CONSTRUCTION IN PROGRESS $0 $0 $0 OTHER GRANTS AND AIDS $7,232,765 $9,773,510 -$2,540,745 ADMINISTRATIVE EXPENDITURES REGULAR SALARIES $532,060 $355,500 $176,560 FICATAXES $40,703 $27,196 $13,507 LIFE AND HEALTH INSURANCE $48,000 $48,000 $0 RETIREMENT CONTRIBUTION $20,600 $18,625 $1,975 FRINGE BENEFITS $24,150 $9,900 $14,250 OTHER CONTRACTUAL SERVICE $20,000 $20,000 $0 TRAVEL AND PER DIEM $30,000 $30,000 $0 COMMUNICATIONS $0 $0 $0 UTILITY SERVICE $20,300 $20,300 $0 INSURANCE $104,166 $104,166 $0 OTHER CURRENT CHARGE $214,271 $129,355 $84,916 SUPPLIES $5,000 $5,000 $0 OPERATING SUPPLIES $5,000 $5,000 $0 SUBSCRIPTION MEMBERSHIP $17,000 $17,000 $0 MACHINERYAND EQUIPMENT $24,000 $6,000 $18,000 ADVERTISING $30,000 $40,000 -$10,000 RENTAL AND LEASES $3,600 $3,600 $0 POSTAGE $2,000 $2,000 $0 REPAIR/MAINTENANCE-OUTSIDE $2,000 $2,000 $0 INTERFUND TRANSFER $17,500 $17,500 $0 raw Admtnbiral1w Eaa.ed0.,.. $1.160,360 RESERVE FOR MIDTOWN ADM EXPENDITURES $46,632 $0 $46,632 RESERVE FOR SECURITY DEPOSIT- MEC $125,000 $125,000 $0 RESERVE FOR SECURITY DEPOSIT - 1401 GROUP LLC $40,000 $40,000 $0 RESERVE FOR CAPITAL EXPENDITURES $377,135 $362,216 $14,919 RESERVE FOR PAYMENT OF PROPERTY TAXES- MEC $178,177 $0 $178,177 FY 2017 BUDGET RESERVE $2,333,170 $4,000,000 -$1,666,830 TOTAL FUND BALANCE $26,334,478 $27,105,271 -$770,794 2017 TIF Revenue 2017 TIF Rev for Affordable Housing % 2017 Budget for Affordable Housing 2017 TIF Revenue 2017 Administrative Expenditures %Administrative Exp / 2017 TIF Revenue 2017 Budget Reserve Total 2017 Budget % 2017 Budget Reserve / Total 2017 Budget $17,415,309 $1,741,531 Refer to 11e 10 and 11 -Other Grant. 10% $17,415,309 $1,160,350 796 $2,333,170 $26,334,478 9% Description Category Approval Date Reso # Amount Amount Remaining $0 $35,600 Budgeted Expended Balance ,cc ountin and Audit $0 $15,000 $0 $19,357 1 External Auditing Services to Administration 7/29/2016 16-0038 $15,000 $0 $15,00{ $0 the OMNI CRA - Sanson, Kline, $0 $Q $1,041,357 $0- Jacomino, Tandoc & Gamarra, LLP rofesslonal Services - other 2 Lobbyists Administration NR $35,000 $0 $35,001 3 Available for Other Professional Administration NR $268,150 $0 $268,151 Services 4 Financial Support Consultant Administration 12/14/2016 16-0064 $47,850 $6,300 $36,551 5 Public Relation Service Administration NR $15,000 $0 $15,001 Other Contractual Services 6 Horsepower Street Light Quality of Life NR $25,000 $5,543 $19,35 Maintenance 7 Landscaping Service Quality of Life NR $25,000 $3,700 $21,30 B Design, planning and Quality of Life 12/14/2016 16-0065 $325,000 $0 $325,001 construction related services for the CRA, related to the Neighborhood Park and Community Event Space located on certain parcels abutting interstate 395. 9 Consultant fees for Quality of Life 12/14/2016 Per contract $56,0001i $0 $56,00 construction of Neighborhood Park and other related expenses. 30 CRA Consultants Administration NR $150,000 $0 $150,00 11 Available for Other Contractual Administration NR $100,000 $0 $100,00 Services - Proposed Budget $250,000 - $150,000 allocated to Other Consultants Total Budget Amount [Professional Services - Legal, Accounting and Audit, Professional Services - Other and Other NR - No CRA Resolution $664,807 R - CRA Resolution Passed $376,S50 $1,041,357 2 Fundinj Source Carryover Fund Balance FY 2017 TIF Revenue $15,000 $0 $35,600 $0 $268,150 $0 $36,550 $0 $15,000 $0 $19,357 $0 $21,300 $0 $325,000 $0 $56,oaD 1 $150,000 $0 � $111p,000 $1,041,357 $0 $Q $1,041,357 $0- $1,041,357 $15,000 $354,700 $671,657 Description Category Approval Date Reso # Amount Amount Remaining $2,000,00( acquisition Budgeted Expended Balance nterfund Transfer Debt Service +terfund Transfer (Grant) $2,000,000 1 Transfer putts the City of Debt Service Dec -07 2007 Global $4,249,500 $0 $4,249,50L Miami for the payment of the $710,000 Agreement $241,21_ City of Miami $13,558,678 Port of Miami Tunnel Series 5 Grant to the City of Miami 2012 12/14/2016 16-0063 $500,000 $0 $500,00( 7therCurrentCharges and Obligati ons 2 Estimated 2007 Global Infrastructure Dec -07 2007 Global $6,095,358 $0 $6,095,35E Agreement Payment - 6 2017 Children Trust Quality of Life Agreement Interlocal S713,820 Performing Art Center Contribution Agreement 3 Available for real estate Infrastructure Carryover Fund Balance NR $2,000,000 $0 $2,000,00( acquisition $0 $6,095,359 +terfund Transfer (Grant) $2,000,000 $241,213 $0 $0 4 2015-2016 Policing Services - Quality of Life 10/22/2015 15-0043 $710,000 $468,787 $241,21_ City of Miami $13,558,678 5 Grant to the City of Miami Quality of Life 12/14/2016 16-0063 $500,000 $0 $500,00( Police Department for the Expanded Polite Program 6 2017 Children Trust Quality of Life Dec -07 Interlocal S713,820 Contribution Agreement Subtotal $13,554,858 $468,7871 $13,086,07: Total Budget Amount (Interfund Transfer (Debt Service), Debt Service, Purchase of Land and Interfund Transfer (Grant) NR - No CRA Resolution $2,000,000 R - CRA Resolution Passed $11,799,891 $13,799,891 3 Fundinj Source Carryover Fund Balance FY 2017 TIF Revenue $0 $4,249,500 $0 $6,095,359 $0 $2,000,000 $241,213 $0 $0 $500,000 $0 $713,820 $241,213 $13,558,678 241213 $13,558,678 $13,799,891 $4,249,500 $6,095,358 $2,000,000 $1,455,033 Fundin¢ Source Description Category Approval Date:1 Reso # Amount Amount Remaining 1 Carryover FY 2017 Budgeted Expended Balance Fund TIF Balance Revenue Other Grants and Aid$ 1 Grant to the Perez Art Art and Culture 7/29/2016 16-0039 $1,000,000 $571,531 $428,469 $428,469 $0 Museum of Miami Dade County for various community benefits to the redevelopment area. 2 1401 Rest LLC - Lessor's Jab Creation 6/13/2013 13-0036 $60,000 $0 $60,000 $60,000 $0 Contribution to leasehold Improvements - Grease Trap and Hood System 3 Grant to Chapman House Infrastructure 12/14/2016 16-0058 $60,000 $0 $60,000 $60,000 $0 for Fagade Improvement Program 4 Guitars Over Guns Art and Culture NR $185,000 $0 $185,000 $185,000 $0 5 Community Initiatives Art and Culture NR $0 $0 $0 $0 $0 Proposed Budget $100,000 (Funds allocated to Budget Reserve) 6 Arts in the Park/Pop Up Art and Culture NR $0 $0 $0 $0 $0 Parks - Proposed Budget $750,090 ($325,000 allocated to Urban Temporary Park - CRA R - 16-0065 and $425,000 to Budget Reserve) 7 Matching funds obligation Infrastructure 3/28/2013 13-0017 $150,000 $26,214 $123,786 $123,786 $0 under the Florida Inldan Navigation District Grant for Phase 2 - Mlaml Woman's Club Baywalk Project- CIP Project 8 Available for Business Job Creation / NR $0 $0 $0 $0 $0 Initiatives and Job Creation Quality of Life Programs - Proceeds from sale of land -14th St DEV LLC - $1,253,649 - GRA -R-15 0021- Proposed Budget 9 Dorsey Library - Project Infrastructure CIP $850,000 $0 $850,000 $850,000 $0 Cost - CIP Project - funds Approved derived from sale of land - Project 14th St DEV LLC - $1,253,649 - CRA R -15- 0021 10 Available TIF funds for Affordable 9/13/2016 16-0040 $1,041,531 $0 $1,041,531 So $1,041,531 Affordable Housing Projects Housing - Original Amount $1,741,530.90 11 Grant to Rebuilding Affordable 12/14/2016 16.0061 $700.00D $0 $7D0,000 $0 $700,000 Together Miami -Dade Inc. Housing to provide partial funding for a home Improvement facade and quality life program. 12 Grant toLegido Affordable 12/14/2016 16.0062 $905,000 $0 $905,000 $905,000 $0 Management Services, Inc Housing to provide funding for "Business Rehabilitation Grant Progfams" 13 Grant to Camillus House, Quality of Life 12/14/2016 16.0059 $175,000 $0 $175,000 $175,000 $0 Inc, for the "Miami Shelter Program" 14 Miami Downtown Quality of Life 12/14/2016 16-0057 $50,000 $0 $50,000 $50,000 $0 Development Authority to expand the Downtown Enhancement Team (Purple Shirts 15 Available for Business Job Creation j NR $0 $0 $0 $0 $0 Initiatives and Job Creation Quality of Life Programs - Proposed Budget $502,107 allocated to Grant to Legido Management Services, Inc 16 Museum Park Remediation Infrastructure CIP, $175,000 $0 $175,000 $175,000 $0 Project B-30538. CIP Project Approved funded with OMNI TIF Project Funds. 17 Contribution to the City of Infrastructure 6/25/2015 15-0022 $3,750,000 $1,271,021 $2,478,979 $845,675 $1,633,304 Miami -TRI Rail Project 5/26/2016 Subtotal $9,101531 $1,868766 $7.232,76.51 $3,857,9301 $3,374,835 $3,857,9301 $3,374,835 Total Budget Amount Other Grants and Aids NR - No CRA Resolution $185,000 R - CRA Resolution Passed $7,047,765 $7,232,7&5 $7,232,765 OMNI Position J $3,900 Executive Director - OMN I $120,000 Executive Director- Midtown (Reimbursed by Midtown CRA) $2,740 Assistant Executive Director $75,000 $50,000 Chief Legal Officer $70,000 $46,667 Director of Policy and Planning $57,500 $38,333 Cash Out Accumulated Annual Leave Cash Out - Former Assistant Executive Director $32,516 (Balance @ 4/7/17 = 739) $1,200 Cash Out of 200 hours of annual leave in FY 2017 Cash Out - Former Assistant Executive $8,846 Former Assistant Director Salary (Oct 2016 - April 2017) $53,667 Assistant to the Executive Director $43,000 Community Liaison $42,000 Intern ($10/Hour) $20,800 Compensated Absences $73,491 Regular Salaries $532,060 Fica taxes $40,703 $40,703 Health/Denral/Vision insurance OMNI CAA Staff $48,000 Contingency $5,000 Life and Health Insurance $48,000 Retirement Contribution (401K) Executive Director $9,600 Assistant Executive Director $2,500 Assistant to the Executive Director $2,150 Community Liaison $2,100 Chief Legal Officer $2,333 Director of Policy and Planning $1,917 Retirement Contribution F $20,600 Car Allowance $3,900 Executive Director - OMNI $3,600 Executive Director - Midtown (Reimbursed by Midtown CRA) $6,000 Former Assistant Director ($300 x 7 months (Oct 2016 - April 20171 $2,100 Assistant Executive Director ($300 x 5 months) $1,500 Chief legal Officer $2,400 Cell Phone Allowance $5,000 Executive Director - OMNI $1,200 Executive Director - Midtown (Reimbursed by Midtown CRA) $2,400 Assistant Executive Director $1,500 Former Assistant Director ($150 x 7 months (Oct 2016 - April 2017) $11050 Chief Legal Officer $1,200 Director of Policy and Planning $1,200 Fringe Benefits $14,150 ADP - Payroll Processing Fee (26 payroll periods X $150) $3,900 Janitorial Service/ Supplies $9,000 Circle Security Solutions $2,700 Comcast $2,400 OTIS Elevator Maintenance Service $2,000 Other Contractual Services $ZQ000 To include cost for travel out of the city for conferences and travel allowances. $30,000 Travel and Per Diem 1 $30,000 FPL - Fire House $10,800 Miami Water and Sewer $3,500 Contingency $6,000 Utility Service $20,300 Property Insurance/General/Liability Insurance (MEC) $71,166 Property Insurance/General/Liability Insurance (Fire Station No 2) $28,000 Workers Compensation (CRA Staff) $5,000 Insurance $104,166 To include the cost of food associated to CRA Meetings/Ribbon Cutting $5,000 To include the cost of miscellaneous supplies. $2,000 Sale Tax -1401 Rest LLC $8,223 Sale Tax - EUE / Screen Gems LTD, Inc MEC $20,872 2016 MLC Property Taxes $178 177 Other Current Charges $214,271 To include supplies necessary for use in the operation of an office, such as copy $5,000 Supplies $s 000 To inctude other supplies not office related, Ex. Misc. Project Construction and $5,000 Operating Supplies $5,000 To include the cost of memberships to organization, Microsoft license, and $17,000 Subscription Membership F$17,000 Purchase of Vehicle $1$,000 To include the cost of new computers $6,000 Machinery and Equipment F $24,000 To include the expenses of placing advertisements in the newspapers or other $30,000 Advertising 1 $30,000 Konica Minolta Copier $3,600 Rental and Leases $3,600 To include the cost of stamps or other related Item, Distribution of newsletter $7,000 Postage $2,000 To include the cost associated to any office/truck repair. $2,000 Repair / Maintenance - Outside $2,000 To include transfer of funds to the City of Miami Office of the City Clerk for $17,500 Interfund Transfer $17,500 Total FY 2017 Amended Budget - Recurrent Expenditures $1,160,350