Addendum Material
FINANCE AND CITYWIDE PROJECTS COMMITTEE MEETING
ADDENDUM MATERIAL (11/6/2017)
City Hall, Commission Chambers, 3rd Floor, 1700 Convention Center Drive
November 8, 2017 – 2:30 PM
Commissioner Ricky Arriola, Chair
Commissioner Joy Malakoff, Vice-Chair
Commissioner John Elizabeth Alemán, Member
Commissioner Micky Steinberg, Alternate
ADDENDUM AGENDA
NEW BUSINESS
19. DISCUSSION REGARDING EXPEDITING THE INDIAN CREEK STREET DRAINAGE IMPROVEMENTS PROJECT
October 31, 2017 – C4 D
Sponsored by Commissioner Malakoff and Co-sponsored by Commissioner Arriola
Public Works
20. DISCUSSION REGARDING FUNDING A SUSTAINABILITY DEMOSTRATION PROJECT AT THE
NORTH BEACH YARD
October 31, 2017 – C4 E
Sponsored by Commissioner Arriola and Co-sponsored by Vice-Mayor Alemán
Environment & Sustainability/Tourism, Culture, and Economic Development
21. FY 2017/18 AVAILABLE CAPITAL FUNDS FROM BUDGET AMENDMENT #1
October 31, 2017
Office of Budget and Performance Improvement
1
ADDENDUM 19.
COMMITTEE MEMORANDUM
TO: Finance and Citywide Projects Committee Members
FROM:Jimmy L. Morales, City Manager
DATE: November 8, 2017
SUBJECT:DISCUSSION REGARDING EXPEDITING THE INDIAN CREEK STREET DRAINAGE IMPROVEMENTS
PROJECT
ANALYSIS:
Discussion at Committee.
2
ADDENDUM 20.
COMMITTEE MEMORANDUM
TO: Finance and Citywide Projects Committee Members
FROM:Jimmy L. Morales, City Manager
DATE: November 8, 2017
SUBJECT:DISCUSSION REGARDING FUNDING A SUSTAINABILITY DEMONSTRATION PROJECT AT THE NORTH
BEACH YARD
ANALYSIS:
Discussion at Committee.
3
ADDENDUM 21.
COMMITTEE MEMORANDUM
TO: Finance and Citywide Projects Committee Members
FROM:Jimmy L. Morales, City Manager
DATE: November 8, 2017
SUBJECT:FY 2017/18 AVAILABLE CAPITAL FUNDS FROM BUDGET AMENDMENT #1
ATTACHMENTS:
Description Type
Memo Memo
4
City of Miami Beach, 1700 Convention Center Drive, Miami Beach, Florida 33139, www.miamibeachfl.gov
COMMITTEE MEMORANDUM
TO: Finance and Citywide Projects Committee
FROM: Jimmy L. Morales, City Manager
DATE: November 8, 2017
SUBJECT: FY 2017/18 Available Capital Funds from Budget Amendment #1
The first budget amendment to the FY 2017/18 Capital Budget was approved at the October 31,
2017 Commission meeting. In anticipation of a new G.O. bond program proposed for voter approval
in November 2018, this budget amendment reflected the goal of spending down existing bond funds
prior to a new G.O. bond issue. Consequently, the first capital budget amendment realigned
existing G.O. bond funding to projects which are anticipated to spend these funds in FY 2017/18.
As a result of various realignments included in the budget amendment, funds as shown below were
released increasing the available balance in each fund as shown in the table below. The City
Commission referred the potential allocation of the released funds to the next Finance & Citywide
Projects Committee.
The table includes the Fire Station #4 Security project for $90,000 that was added by Commission
as part of the approval of the first capital budget amendment. Also included is $40,000 in additional
funds for the Temporary Skate Park project that was also discussed at the October 31st Commission
meeting. The current fund balances for Resort Tax – Quality of Life funds for North, Mid, and South
Beach have also been included as additional information.
Fund Name
Estimated
Available
Balance as of
10/1/17
FY 2017/18
1st Budget
Amendment
Fire Station #4
Security
Temp
Skate Park
Estimated
Available
Balance as of
10/31/17
Pay As You Go (PAYGO)12,123 241,135 (90,000) (40,000) 123,258
Capital Renewal & Replacement (CRR)- 390,560 390,560
Capital Reserve 2,484,744 215,849 2,700,593
Resort Tax - South Beach - -
Resort Tax - Mid Beach 29,000 29,000
Resort Tax - North Beach 29,000 29,000
Estimated Available Capital Dollars by Fund
Please note the following information for each of the funding sources in the table:
• PAYGO - most flexible funding source for capital projects; can be used for any general
purpose; currently $2.4 million per year
• CRR - projects to extend the life of existing city assets; currently $721,000 per year from
dedicated millage rate
• Capital Reserve - used to fund higher than anticipated costs for capital projects; funded
annually through year-end savings subject to availability
• Resort Tax - capital project needs to be tourism-related; currently $1.9 million per year each
JLM/JW 5