HomeMy WebLinkAboutExhibitBUDGET SUMMARY
The Downtown Development Authority of the City of Miami, Florida
Fiscal Year 2017-2018
THE PROPOSED OPERATING BUDGET EXPENDITURES OF THE DOWNTOWN DEVELOPMENT AUTHORITY
OF THE CITY OF MIAMI ARE 13.3116 MORE THAN LAST YEAR'S TOTAL OPERATING EXPENDITURES
GENERAL FUND
Revenue Sources
Ad Valorem Tax Levy 0.4681 Millage per $1000 8,791,683
Other Revenue 165,000
Total Sources 8,956,683
Fund Balances/Reserves 2,984,000
Total Revenues and Balances 11,940,683
Operating Expenditures
Leadership, Advocacy & Operations 1,276,000
Business Development & Marketing 2,220,000
Arts, Culture & Entertainment 1,058,000
Urban Placemaking 1,694,000
Transit, Connectivity & Mobility 1,043,000
Tri -Rail Downtown Link 317,000
Quality of Life 2,661,000
Total Operating Expenditures 10,269,000
Fund Balances/Reserves 1,671,683
Total Expenditures, Reserves and Balances 11,940,683
Downtown Development Authority of the City of Miami
City of Miami
Budget Template
Expenditures
FY 2013-14
Actual
FY 2014-15
Actual
FY 2015-16
Actual
FY 2016-17
Budget
FY 2016-17
Projection
FY 2017-18
Proposed
Revenues
$1,522,124
$1,606,737
$1,895,238
$2,057,300
$2,057,300
$2,197,052
Ad Valorem
$5,585,564
$6,119,167
$6,612,767
$7,808,726
$7,027,853
$8,791,683
Grants
$13,500
$0
$156,400
$157,400
$157,400
$168,033
Interest
$6,333
$6,515
$7,247
$143,900
$153,900
$154,790
Miscellaneous
$109,045
$119,569
$67,040
$392,100
$300,990
$165,000
Workers' Compensation
$7,766
$16,131
$10,311
$16,200
$10,000
$17,200
Professional Services - Legal
$135,390
$48,867
$34,796
$30,000
$30,000
$30,000
Professional Services
$138,834
$136,8711
$140,867
$170,000
$170,000
$170,000
Accounting and Auditing
$26,188
$25,000
$22,000
$24,000
$22,000
$24,000
Other Contractual Services
$82,418
$84,274
$107,310
$102,000
$102,000
$167,000
Travel and Per Diem
$29,863
$9,914
$29,495
$0
$0
$0
Revenue Grand Total
$5,714,442
$6,245,251
$6,843,454
$7,808,7261
$7,027,853
$8,956,683
Expenditures
Regular Salary and Wages
$1,522,124
$1,606,737
$1,895,238
$2,057,300
$2,057,300
$2,197,052
Fringe Benefits
$2,000
$2,0001
$2,000
$2,000
$2,000
$2,000
FICA Taxes
$109,933
$115,912
$137,795
$157,400
$157,400
$168,033
Retirement Contributions
$102,917
$109,132
$125,588
$143,900
$153,900
$154,790
Life and Health Insurance
$231,971
$268,300
$294,174
$392,100
$300,990
$429,246
Workers' Compensation
$7,766
$16,131
$10,311
$16,200
$10,000
$17,200
Professional Services - Legal
$135,390
$48,867
$34,796
$30,000
$30,000
$30,000
Professional Services
$138,834
$136,8711
$140,867
$170,000
$170,000
$170,000
Accounting and Auditing
$26,188
$25,000
$22,000
$24,000
$22,000
$24,000
Other Contractual Services
$82,418
$84,274
$107,310
$102,000
$102,000
$167,000
Travel and Per Diem
$29,863
$9,914
$29,495
$0
$0
$0
Communications and Related Services
$237,357
$244,930
$277,2861
$324,800
$320,000
$414,472
Postage
$2,844
$1,864
$2,513
$3,000
$3,000
$3,000
Utility
Rentals and Leases
$217,984
$225,120
$232,056
$243,000
$243,000
$265,256
Repair and Maintenance Services
$3,5411
$3,910
$3,675
$4,000
$4,000
$5,000
Printing and Binding
$17,147
$16,2161
$17,378
$20,000
$15,000
$20,000
Advertising and Related Costs
$163,596
$160,220
$154,093
$195,000
$195,000
$218,000
Printed; 8/11/2017 11:34 AM
Difference Notes
+$982,957 taxable value growth
+$165,000 Expected revenues from other gov't
$1,147,957 $0
+$139,752 New DET Supervisor, new Public Information Officer
(part of Micellaneous income), and Agency -wide
Cost of Living Adjustment increase
$0
+$10,633 Commensurate to salaries
+$10,890 Commensurate to salaries
+$37,146 Expected 9% increase in Healthcare costs
+$1,000 Expected increase in policy
$0
$0
$o
+$65,000 Additional Marketing and Branding company to be
hired in FY1718 and increase in IT services/products
$0
+$89,672 Expected video costs to promote DDA
$0
+$22,256 Contractual increase
+$1,000 Expected additional costs
$0
+$23,000 Increase in PR company contract amount during RFP
award process in FY1617
Page 1 of 2
Downtown Development Authority of the City of Miami
City of Miami
Budget Template
Revenues Minus Expenditures I -S58,6811 $113,613 -$393,439 -$1,255,374 -$880,853 -$1,252,442 1 $2,9321$0
Printed: 8/11/2017 11:34 AM Page 2 of 2
FY 2013-14
Actual
FY 2014-15
Actual
FY 2015-16
Actual
FY 2016-17
Budget
FY 2016-17
Projection
FY 2017-18
Proposed
Difference
Notes
Office Supplies
$14,508
$13,155
$11,704
$12,000
$12,000
$12,000
$0
Operating Supplies
Motor Fuel
Public Safety Supplies
Subscriptions, Memberships, and Licenses
$9,738
$11,163
$15,693
$0
$0
$0
Interfund Transfer
Capital Projects and Purchases
$208,827
$364,252
$1,341,900
$1,681,500
$775,000
$2,142,000
+$460,500
Flagler Street Owner's Rep, Flagler Street cleaning
during construction period, new Transient dockage,
new Barkpark, SMART Plan, Tri -rail commitment
All Other Expenditures
$2,508,177
$2,667,670
$2,381,020.45
$3,485,900
$3,336,116
$3,770,076
+$284,176
International Women's Conference, CRA DET team
(part of Micellaneous income), Resiliency efforts,
Special Program Funding for Quality of Life, Baywalk
Activation
Budget Reserve
Expenditure Grand Total
1 5,773,123
1 $6,131,6381
$7,236,8931
$9,064,1001
$7,908,706.1
$10,209,125
$1,145,0251$0
Revenues Minus Expenditures I -S58,6811 $113,613 -$393,439 -$1,255,374 -$880,853 -$1,252,442 1 $2,9321$0
Printed: 8/11/2017 11:34 AM Page 2 of 2