LTC 210-2022 Fiscal Year 2022 Second Quarter Analysis210-2022
MIAMI BEACH
OFFICE OF THE CITY MANAGER
LTC NO.
LETTER TO COMMISSION
TO:
FROM:
DATE:
Honorable Mayor Dan Gelbe~bers of the City Commission
Alina T. Hudak, City Manag Dt' '\')
May 26, 2022 .
SUBJECT: Fiscal Year 2022 Second Quarter Analysis
The purpose of this Letter to Commission (L TC) is to provide the Mayor and City Commiss ion
with the status of the Fiscal Year (FY) 2022 operating budget to actual revenues and expenses
as of the second quarter ending March 31, 2022, with projections through fiscal year-end
September 30 , 2022, as set forth in the City's Charter which specifies that "the City Manager shall
make public a quarterly report showing the actual expenditures during the quarter just ended
against one quarter of the proposed annual expenditures set forth in the budget."
It is important to note that certain assumptions for both revenues and expenditures have been
made in these projections, including the projected ongoing impact of COVID-19 on the City's
operations that will continue to be refined and adjusted as additional data and information
becomes available.
SUMMARY
The FY 2022 budget was adopted to assume a cautiously optimistic rebound in revenues due to
the impact of COVID-19 on the City's operations . Based on revenues in the General Fund and
Resort Tax Fund trending higher than originally anticipated as of the second quarter of FY 2022,
revenues and expenditures as of March 31, 2022, with projections through September 30, 2022,
reflect a projected year-end surplus of $13 .5 million in the General Fund and $15.3 million in the
Resort Tax Fund, which is an increase from the surplus projected as of the first quarter of FY
2022 of $5.1 million and $6.5 million in the General Fund and Resort Tax Fund, respectively.
Based on the preliminary General Fund revenues and expenditures as of March 31 , 2022, with
projections through September 30 , 2022 , the Administration is recommending, as presented at
the FY 2023 Commission Budget Retreat on May 20, 2022, that the projected year-end surplus
of $13 .5 million be set aside and/or allocated for the following:
1) $5.9 million to reach the General Fund Reserve policy target amount of 3 months, or 25%,
adopted by Resolution No. 2019-30954
2) $7 .6 million to fund anticipated Capital Project gaps
Similarly , based on preliminary Resort Tax revenues and expenditures as of March 31, 2022 , with
projections through September 30, 2022, the Administration recommends that the projected year-
end surplus of $15.3 million, as presented at the FY 2023 Commission Budget Retreat on May
20, 2022 , be set aside and/or allocated for the following:
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 2 of 16
1) $3.2 million for FY 2023 Spring Break Programming, which will be discussed more in detail
during the development of the FY 2023 budget
2) $5 .5 million to reach the Resort Tax Reserve policy target amount of 6 months, or 50%,
adopted by Resolution No. 2019-30664
3) $6 .6 million to fund anticipated Capital Project gaps
USE OF RESERVES
Should the General Fund items summarized above be approved, as recommended by the City
Administration, the projected FY 2022 General Fund reserve would total approximately $88.5
million , or 25%, which equals approximately 3 months of reserves. The reserve policy for the
General Fund is a required 2 months , with a goal of 3 months .
GENERAL FUND
Reserve as of 9/30/2021 **
FY 2022 Budget Amendments (1 st and 2nd Operating Amendments)
72nd Street Project Contribution
Additional FEMA Reimbursement for Hurricane Irma
Additional General Fund Revenues Projected as of Q1/Q2
Parking Contribution for 500 Alton Road Project
Parking Contribution for Ocean Terrace Project
Matrix Staffing Report Recommendations (3 Positions in Police)
Additional Police Positions (2 New Positions+ 1 Reclassification)
Resilient Florida Funding Grant Match
Housing Relocation from 555 Building to 1701 Meridian
Lighting on Meridian Avenue in Flamingo Park District
Municipal Prosecution Program
Justice Advocate Program
Diversity Program
Set Aside/Allocation for Anticipated Capital Project Gaps
Projected FY 2022 Reserve
Q1 Q2
Reserve Amount Reserve Amount
$87.5 million
($9 .9 million)
($3 .5 million)
$1.0 million
$5 .1 million
($0 .6 million)
($0 .3 million)
($0.2 million)
($0.2 million)
($0 .1 million)
$78.8 million
$94.8 million
($9.9 million)
($3.5 million)
$1.2 million
$15.8 million
($0.6 million)
($0.3 million)
($0 .2 million)
($0.2 million)
($0.1 million)
($0.3 million)
($0 .2 million)
($0.2 million)
($0 .1 million)
($0.1 million)
($7.6 million)
$88.5 million
**Based on preliminary balances provided by Finance Department as of 09/30/2021
For Resort Tax , if the items summarized above are approved, as recommended by the City
Administration, the projected Resort Tax reserve would total approximately $28.6 million, or 50%,
which equals approximately 6 months of reserves. The reserve policy for the 2% Resort Tax Fund
is a minimum of 3 months, with a goal of 6 months.
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 3 of 16
RESORT TAX FUND Q 1 0 2
Reserve Amount Reserve Amount
Reserve as of 9130/2021**
FY 2022 Budget Amendments (1"1 and 2nd Operating Amendments)
72nd Street Project Contribution
Additional Resort Tax Revenues Projected as of Q1/Q2
Washington Avenue Milling and Resurfacing Project
Additional Police High Impact -Spring Break
Ocean Drive Reconfiguration
Holiday Lighting Expansion in North Beach
SOBE WFF Cash Sponsorship for City Services
Washington Avenue Restriping
Miami Beach Live -Spring Break
FTX Sponsorship
Set Aside for FY 2023 Spring Break Programming
Set Aside/Allocation for Anticipated Capital Project Gaps
Projected FY 2022 Reserve
$29.9 million
($0.9 million)
($5.9 million)
$6.5 million
($1.6 million)
($0.7 million)
($0.6 million)
($0.3 million)
($0.2 million)
($0.1 million)
($0.1 million)
$26.0 million
**Based on preliminary balances provided by Finance Department as of 09/30/2021
$29.9 million
($0.9 million)
($5.9 million)
$19.1 million
($1 .6 million)
($0.7 million)
($0.6 million)
($0.3 million)
($0.2 million)
($0 .1 million)
($0.1 million)
($0.2 million)
($3.2 million)
($6.6 million)
$28.6 million
All General Fund, Enterprise Funds, Internal Services Funds, and Special Revenue Funds
budgets are projected to be at or below their current FY 2022 amended budgets as of year-end
with revenues projected to be equivalent to or in excess of expenditures, except for the Red Light
Camera, 5th & Alton Garage, and Biscayne Point and Biscayne Beach Special Taxing Districts
Special Revenue Funds, which are detailed further in the forthcoming second quarter analysis.
AMEmCANRESCUEPLANACTFUNDS
The American Rescue Plan Act of 2021 (ARPA) is an emergency legislative package intended to
"fund vaccinations, provide direct relief to families bearing the brunt of the COVID-19 crisis , and
support struggling communities." The bill provides a total of $1.9 trillion to governments and other
entities such as hospitals, public schools, and universities to promote recovery from the
COVID-19 pandemic.
Signed into law by President Biden on March 11, 2021, the bill allocated $350 billion in fiscal
recovery funds to State, Local, Tribal, and Territorial (SLTT) Governments, of which $45.6 billion
was allocated for metropolitan cities, such as the City of Miami Beach , to:
• Respond to the COVI D-19 public health emergency or its negative economic impacts
including (but not limited to): assistance to households, small businesses, and nonprofits,
or aid to impacted industries such as tourism, travel, and hospitality
• Provide premium pay to eligible State workers, or grants to eligible employers with
employees that perform essential work during the COVID-19 public health emergency
• Provide government services to compensate for the reduction in revenue in the community
due to the pandemic (budget shortfalls)
• Make necessary investments in water, sewer, or broadband infrastructure
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 4 of 16
The City of Miami Beach received an allocation of approximately $23.6 million in one-time federal
dollars to address the revenue shortfalls attributed to COVID-19, which the City Commission
approved to be used to balance the projected shortfall attributed to COVID-19 in the FY 2022
budget approved on September 30 , 2021, through Resolution 2021-31872. To date ,
approximately $11 .8 million of the total allocation has been received and the remaining balance
of $11.8 million is anticipated to be received during FY 2022.
ANALYSIS
Similar to the balancing plans that the City Administration implemented for FY 2020 and FY 2021
due to the impact of COVI D-19 on the City 's operations, the FY 2022 budgets included
assumptions based on the expectation of conservative economic activity with gradual growth
thereafter. The keys to balancing the budgets for FY 2022 were: (1) reducing non-essential costs
as much as possible; (2) allocating ARPA funds received by the City totaling $23 .6 million from
the federal government to mitigate the projected ongoing revenue loss attributed to COVID-19;
and (3) judiciously using the City's reserves to make up the difference .
GENERAL FUND
Second Quarter Status
An analysis of the actual six-month operating revenues and expenses for the period October 1,
2021 through March 31, 2022 reveals an operating budget surplus of $108.6 million. While the
actual surplus as of March 31 , 2022 may seem unusual when compared to the projection for the
current fiscal year ending September 30, 2022, it should be noted that the City receives a large
percentage of its annual ad valorem property tax revenues during the first six months of the fiscal
year. Ad valorem property tax revenues represent approximately 56.4% of total budgeted
revenues adopted for FY 2022 and 67.6% of actual revenues collected during the first six months
of FY 2022.
As of March 31, 2022 , total revenues collected were approximately 71.4% of the current FY 2022
amended budget, or $261 .3 million . Conversely, expenditures were approximately 41.7% of the
current FY 2022 amended budget, or $152. 7 million. It is important to note that there are often
delays in expenditures until the close of the fiscal year.
FY 2022 Budget
1/2 of Amended Actuals as of Variance from 1/2
General Fund Adopted Budget Amended Budget Budget 03 /3 1/22 Amended Budget
O.er I (Under)
Re.enues $ 354 ,106 ,000 $ 366 ,276 ,000 $ 183 , 138 ,000 $ 261 ,340 ,189 $ 78 ,202 ,189
Expenditures $ 354 ,106 ,000 $ 366,276,000 $ 183 , 138 ,000 $ 152,732 ,717 $ (30,405 ,283)
Excess of Revenues Over/(Under) Expenditures $ 108,607,472
Year-End Projections
Year-end operating revenues and expenditures projected through September 30, 2022 provide a
more realistic indication of any estimated year-end surpluses or shortfalls as of this point in time.
While actual revenues and expenses reflected in this analysis are as of March 31, 2022, these
projections incorporate more current information that may be available. In addition, these
projections assume the use of $23.6 million in American Rescue Plan Act (ARPA) funds allocated
to the City by the federal government.
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 5 of 16
A summary of the preliminary General Fund revenues and expenditures as of March 31, 2022,
with projections through September 30, 2022, reflects a projected year-end surplus of $13 .5
million, which is an increase of $8.4 million from the $5.1 million surplus pro jected as of the first
quarter of the fiscal year, which the City Administration, as presented at the FY 2023 Commission
Budget Retreat on May 20, 2022, is recommending be set aside and/or allocated for the following :
1) $5.9 million to reach the General Fund Reserve policy target amount of 3 months, or 25%,
adopted by Resolution No . 2019-30954
2) $7 .6 million to fund anticipated Capital Project gaps
FY 2022 Budget
General Fund A dopted Budget Amend ed Budget Projected Differen c e % O1.er / (Und er)
Re1.enues $ 354 ,106 ,000 $ 366 ,276 ,000 $ 376 ,278 ,000 $ 10 ,002 ,000 2.7%
E x pe nditures $ 354 ,106 ,000 $ 36 6 ,276 ,000 $ 362 ,808 ,000 $ (3 ,46 8,000 ) -0 .9%
Excess of Revenues Ove r/(Under) Expenditures $ 13,470,000 3.7%
Operating Revenues
Property tax collections for FY 2022 are being projected at 95 .0% of total property taxes assessed ,
which is consistent with the original adopted budget thus allowing for discounts and a level of
adjustment for appeals that is consistent with historical levels. The impact of these appeals and
adjustments realized for FY 2022 will be received in July 2022 when the City receives its certified
property values from the Miami-Dade County Property Appraiser.
As of March 31 , 2022 , actual operating revenues collected were approximately 71.4% of the
current amended budget , or $261 .3 million , with operating revenues through fiscal year-end
September 30 , 2022 projected at $376.3 million , which is approximately 2 .7%, or $10 .0 million ,
above the current amended budget. As previously mentioned , these projections are not only
based on experience during the first six months of the fiscal year, but also other information
available , as well as the use of $23.6 million of ARPA funds allocated to the City by the federal
government.
Revenue categories projected to exceed budget or with significant variances to budget in excess
of 10.0%, or $300 ,000 , are further explained below:
Other Taxes -This category includes franchise taxes for gas and electric , as well as utility
taxes for telephone , electricity , and gas and is projected to be above the current amended
budget by 2 .5%, or $592 ,000 , primarily due to franchise taxes for electricity and gas trending
higher than originally anticipated based on current economic activity.
Licenses and Permits -This category includes business tax receipts , licenses/special use
permits , and sidewalk cafe fee revenues and is projected to be above the current amended
budget by 17 .3%, or $2 .7 million , primarily due to increased fire , planning, and public works
plans review services and permit revenues resulting from increased real estate and economic
development activity . It is important to note that of the additional $2 .7 million projected ,
$875 ,000 is attributed to Public Works permit revenues collected earlier in the fiscal year for
the 500 Alton Road Project.
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 6 of 16
Intergovernmental -This category includes local option gas tax, motor fuel tax , sales tax
proceeds, and half-cent sales tax proceeds received from Miami-Dade County and the State
of Florida and is projected to be 16.2%, or $2 . 0 million, above the current amended budget
primarily due to sales tax and half-cent sales tax collections trending higher than originally
anticipated based on current economic and tourism-related activity.
Charges for Services -This category includes revenues from activities and programs
offered by the Parks and Recreation Department such as after school and summer classes,
as well as the operations of the Miami Beach and Normandy Shores golf courses, public
safety, passport, and lot clearing services , and is projected to be above the current amended
budget by 8.2%, or $1.1 million , primarily due to golf course operations at both the Miami
Beach and Normandy Shores golf courses trending higher than originally anticipated based
on current economic and tourism-related activity .
Fines and Forfeits -This category , among other things , includes traffic fines , parking fines,
and code enforcement violations, and is projected to be above the current amended budget
by 114.0%, or $1 .1 million , primarily due to increased levels of code enforcement and police
recoveries trending higher than originally anticipated . It is important to note that of the
additional $1 .1 million projected, approximately $800 ,000 is attributed to police recoveries
for service expenditures provided to outside entities .
Interest -This category is comprised of various sources of interest income derived from the
City's current investments and is projected to be 28.5%, or $862,000, above the current
amended budget due to realized gains in interest revenues on current investments and
anticipated increase in interest rates.
Rents and Leases -This category includes revenues from various rentals and leases of
City owned properties. FY 2022 collections are projected to be 9.5%, or $596 ,000, above the
current amended budget primarily due to the revenues from several of the City's leases,
including the Miami Beach Marina, trending higher than originally budgeted since the
revenues collected by the City are based on a percentage of the tenants' sales .
Miscellaneous -This category includes revenues from various categories such as
concessions, reimbursements , and other revenue categories including beach access fees
and advertising . Projected FY 2022 revenues are 7.5%, or $1.1 million, above the current
amended budget primarily due to revenues from lien statement services and planning design
review fees trending higher than originally anticipated as a result of increased real estate and
development activity .
For a detail of General Fund revenues by category, refer to the attached Exhibit A.
Operating Expenditures
As of March 31, 2022 , actual expenses were approximately 41.7% of the current amended
budget, or $152.7 million, with operating expenditures through fiscal year-end September 30,
2022 projected at $362.8 million , which is approximately $3.5 million below the current amended
budget. As previously mentioned, these projections are not only based on experience during the
first six months of the fiscal year, but also more current information available .
General Fund expenditures by department projected to exceed budget or with variances to budget
in excess of 10.0%, or $300,000, are further explained below:
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 7 of 16
Citywide Accounts -Citywide Accounts are a category of budgeted expenditures related to
the City's overall operations that are not readily identifiable to any specific department. These
accounts are projected to be 1.7%, or $395 ,000, below the current amended budget primarily
due to projected savings in one-time expenditures budgeted in FY 2022, as well as the hold
placed on the annual grant payment made to the Miami Beach Garden Conservancy
(Botanical Gardens) based on an audit being completed by the Office of the Inspector General
(OIG).
Citywide Accounts
FY 2022 FY 2022 Projected vs
Amended Budget Projected Amended % O1.er / (Under)
Budget Variance
Expenditures $ 23 ,498 ,000 $ 23 ,103,000 $ (395 ,000) -1.7%
While the above-listed General Fund departments comprise those projected to exceed their
current amended budgets or with significant variances to budget in excess of 10.0%, or $300,000 ,
all other General Fund departments are projected to have savings at year-end that may be
realigned within the General Fund at year-end, if necessary.
For a detail of General Fund expenditures by department, refer to the attached Exhibit A.
ENTERPRISE FUNDS
The City accounts for those goods and services provided by a particular department to external
users for which a fee is charged as Enterprise Funds. The City's Sanitation , Water, Storm Water,
Sewer, Parking, Convention Center, and Building operations comprise this category of Proprietary
Funds.
An analysis of the actual six-month operating expenses for the period October 1, 2021 through
March 31, 2022, reveals that all Enterprise Funds have actual expenses that are less than one
half of their current amended budgets . It is important to note that this is not representative of
typical trends for a full fiscal year, as there is often a lag in processing of expenditures, particularly
those billed by outside entities for services provided .
NTERPRISE FUNDS
Sanitation Sewer Storm Water Water Parking Building Convention
Center
FY 2022 Adopted Budget 22,170.000 52 ,916,000 31 ,911 ,000 35.032,000 . 43,4n,ooo 17,449.000 27.332,000
Budget Am endment -10/13/21 0 0 0 0 0 0 0
Budget Amendment -11/22/21 1,130,000 2.321 .000 1,952 ,000 3 ,494,000 681 ,000 7,000 1.228,000
Bud et Amendment -03/09/22 0 0 0 0 0 0 0
FY 2022 Am ended Bud el 23.300.000 55 ,237,000 33.863.000 38,526.000 44.158,000 17,456,000 28,560.000
1 /2 Adopted Budget 11 ,085.000 26,458,000 15.955,500 17.516.000 21 ,738,500 8 .724.500 13.666,000
1 /2 Am ended Bud et 11 ,650,000 27,618,500 16.931 ,500 19,263.000 22.079,000 8 ,728.000 14.280.000
Revenues as of 03/31 /22 10.245,705 26,284,392 15,316,989 16,299,727 22 .782.175 B.980,447 4,066,008
Ex enditures as of 03/31 /22 10,002,137 24,050,702 10.738.272 16.794,902 13,602,682 7.195,492 2,266,046
Expenditures Above /(Be low) 1/2 Amended Budget (1,647.863) (3.567, 798) (6 ,193,228) (2 ,468.098) (8,476,318) (1,532.508) (12,013.954)
% Va riance -7.1 % -6.5% -1 8.3% -6.4% -19.2 % -8.8 1% -42.1%
Year-end operating revenue and expenditure projections through September 30 , 2022 provide a
more realistic indication of any anticipated year-end surpluses or shortfalls as of this point in time.
While the actual revenues and expenses presented above are as of March 31, 2022 , the year-
end projections incorporate more current information.
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 8 of 16
Revenues for all Enterprise Funds are projected to be equivalent to or in excess of expenditures
as of year-end . In addition , all Enterprise Fund budgets are projected to be under their current
amended budgets . Enterprise Fund budgets with variances to budget in excess of 10.0%, or
$300,000, are further explained below:
Pa rking -Based on the Parking Enterprise Fund 's FY 2022 second quarter projections ,
revenues are projected to exceed expenditures resulting in a projected surplus of
approximately $2 . 7 m illion that would be available to be set aside for renewal and replacement
of existing Parking assets or future operating expenditures should these projections be
realized at year-end. The projected surplus is attributed to a comb ination of factors which
include Parking revenues trending above budget and the continued vacancy of existing
budgeted positions due to hiring challenges that the department has been encountering . Due
to the uncertainty of Parking 's revenues, the surplus projected as of the second quarter may
be different as of year-end ; therefore , trends will continue to be monitored over the coming
months.
Other significant variances in the Enterprise Funds to note are detailed below .
Convention Center -Based on the Convention Center Fund's FY 2022 second quarter
projections, revenues are projected to exceed expenditures resulting in a projected surplus of
approximately $2.8 million that would be available to be set aside for renewal and replacement
of existing Conven t ion Center assets or future operating expenditures should these
projections be realized at year-end. The projected surplus is attributed to a combination of
factors, including an anticipated Convention Development Tax (CDT) bonus to be received
from Miami-Dade County for FY 2022 based on an increase in Convention Development Tax
receipts collected and projected savings in personnel and operations-related expenditures
based on activity in the Convention Center. Due to changes in the scheduling of events , the
surplus projected as of the second quarter may be different as of year-end ; therefore, trends
for the Convention Center's operations will continue to be monitored over the coming months.
NTERPRISE FUNDS
Sanitation Se we r Stonnwater water Parking Building Convention
Center
FY 2022 Adopted Budget 22,170,000 52 ,916,000 31 ,9 11,000 35 ,032 ,000 43,477,000 17,449,000 27 ,332 ,000
Budge t Am en dm en t-10/13/2 1 0 0 0 0 0 0 0
Budget Amen dment -11/22/21 1,130,000 2,32 1,000 1,952 ,000 3,494 ,000 681 ,000 7,000 1,228,000
Bud et Am endment -03/09/22 0 0 0 0 0 0 0
FY 2022 Am ended Bud et 23,300,000 55 ,237,000 33 ,863,000 38 ,526 ,000 44,158,000 17,456,000 28 ,560 ,000
FY 2022 Projections :
Charges for Services 18,148,500 53 ,139,000 32 ,622,000 34 ,216 ,000 42 ,527,000 14,279,000 18,572 ,000
Other 4,997,500 2,020,000 1,083,000 4,085,000 3,84 6,000 2,945,000 12,495,000
23,146 000 55 ,159,000 33 705,000 38 30 1,000 46 373,000 17,224,000 31 067 000
154,000 78,000 158 ,000 225,000 2,215,000 232,000 2 507 000
-0.7% -0.1 % -0.5 % -0.6% 5.0% -1.3% 8.8%
FY2022 E 23 ,146,000 55 ,159,000 33 ,7 05 ,000 38 ,30 1.000 43,637,000 17,224,000 28 ,271 ,000
154,000 78,000 158,000 225,000 521 ,000 232,000 289,000
-0.7% -0.1 % -0.5 % -0.6% -1.2% -1.3% -1 .0%
Revenues Over/ Under Ex nditures 0 0 0 2,736,000 0 2,796 ,000
As additional information becomes available these projections will continue to be further refined .
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 9 of 16
INTERNAL SERVICE FUNDS
The City accounts for goods and services provided by one department to other departments
citywide on a cost reimbursement basis as Internal Service Funds. Central Services , Fleet
Management, Information Technology, Property Management , Risk Management (Self
Insurance), Medical and Dental , and the Office of the Inspector General comprise this category
of Proprietary Funds.
An analysis of the actual six-month operating revenues and expenses for the period October 1,
2021 through March 31, 2022, reveals that all Internal Service Funds have actual expenses that
are less than one half of their current amended budgets, except for Central Services, which
incurred some one-time costs for equipment during the first half of the fiscal year. Similar to the
other category of Proprietary Funds (Enterprise Funds), this is not representative of typical trends
for a full fiscal year, as there is often a lag in processing of expenditures, particularly those billed
by outside entities for services provided .
"•"• I
Central Fleet lnformrtlon Office of Property Risk Medical &
Inspector Dental Service s Management Technology General Management Management Insurance
FY 2022 Adopted Budget 1,021 ,000 16,772 ,000 19.121 ,000 1,532 ,000 11 ,709,000 23,325,000 41 ,543,000
Budget Amendment-10/13/21 0 0 0 0 0 0 0
Budget Amendment-11/22/2 1 20,000 3,799 ,000 1,636 ,000 534 ,000 536,000 495,000 0
Budoet Amendment -03/09/22 0 0 0 0 0 0 0
FY 2022 Am ended Budaet 1,041 ,000 20,571 ,000 20,757 ,000 2,066 ,000 12 ,245,000 23.820,000 41 ,543,000
1 /2 Adopted Budget 510,500 8,386 ,000 9,560 ,500 766,000 5,854,500 11 ,662,500 20 ,77 1,500
1 /2 Am ended Budaet 520,500 10,285 ,500 10,378 ,500 1,033,000 6,122,500 11 ,910,000 20 ,771 ,500
Revenues as of 03/31/22 506.161 5,406 .518 8,081 ,337 766 ,256 5,139,872 11 ,883 580 20 ,600,296
Exoenditures as of 03131/22 524.568 3,455,862 9,239 ,145 749,499 4 ,004,529 6,545,896 19,235,009
Expenditures Above /(Below) 1/2 Amended Budget 4,068 (6,829,638) (1,139,355) (283,501 ) (2,11 7,971 ) (5 ,364,104) (1,536,491 )
% Variance 0.4 % -33.2% -5.5% -13.7% -17 .3% -22.5% -3.7 %
Year-end operating revenue and expenditure projections through September 30 , 2022 provide a
more realistic indication of any anticipated year-end surpluses or shortfalls as of this point in time.
While the actua l revenues and expenses presented above are as of March 31 , 2022 , the year-
end projections incorporate more current information that may be available .
As reflected in the table below , revenues for all Internal Service Funds are projected to be
equivalent to or in excess of expenditures as of year-end and all Internal Service Funds are
projected to be below their current amended budgets and there are no significant variances to
budget in excess of 10.0%, or $300 ,000.
NTERNALSER~CEFUNDS
Central Fleet lnformrtlon Office of Property Ri sk Medical&
Inspector Dental Services Management Technology General Management Managerrent Insurance
FY 2022 Adopted Budget 1,021 ,000 16,772,000 19,121 ,000 1,532 ,000 11 ,709,000 23,325,000 41 ,543,000
Budget Amendment-10/13/21 0 0 0 0 0 0 0
Budget Amendment -11 /22/21 20,000 3,799 ,000 1,636,000 534.000 536,000 495,000 0
Bud et Amendment -03/09/22 0 0 0 0 0 0 0
FY 2022 Am ended Bud et 1,041 ,000 20,571 ,000 20,757,000 2,066 ,000 12 ,245,000 23,820,000 41 ,543 ,000
FY 2022 Proj ections :
Charges for Services 1,006 ,000 16,124,000 16,173,000 1,532.000 10,263,600 21 ,816,000 0
Other 22 ,000 4,238,000 4,332 ,000 526.000 1,688,400 1,935.000 41 ,307,000
FY 2022 Revenue Pro·ections 1,028 ,000 20,362 ,000 20,505.000 2,058 ,000 11 ,952,000 23,751 ,000 41 ,307 ,000
$Over/Under Amended Bud et 13 000 209 000 25 000 8 000 293,000 69,000 236,000
% Over/ Under Amended Bud et -1.2% -1 .0% -1 .2% -0.4% -2.4 % -0.3% -0.6%
FY 2022 E 1,028,000 20,362 ,000 20,505.000 2,058 ,000 11 ,952,000 23.751 ,000 41 ,307 ,000
13,000 209,000 252,000 8 000 293,000 69,000 236,000
-1.2% -1 .0 % -1.2% -0.4% -2.4 % -0.3% -0.6%
Revenues Over/ Unde r Ex enditures 0 0 0 0 0 0 0
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 10 of 16
These projections will continue to be refined as additional information becomes available.
SPECIAL REVENUE FUNDS
Special Revenue Funds consist of revenues and expenditures which are legally restricted or
committed for specific purposes , other than debt service and/or capital projects. Special Revenue
Funds include Resort Tax, as well as Transportation and People 's Transportation Plan (PTP)
Fund operations, 7th Street Garage operations, 5th & Alton Garage operations , the Tourism and
Hospitality Scholarship Program , Information and Communications Technology Fund, Education
Compact Fund , Franchise Waste Haulers and Sustainability Contributions, the Residential
Housing Program , Red Light Camera Program operations, Emergency 911 Fund, Miami Beach
Cultural Arts Council , Normandy Shores and the City's three Security Guard Special Taxing
Districts (Biscayne Point, Biscayne Beach, and Allison Island), Miami City Ballet, Art in Public
Places (AIPP) operations, Tree Preservation and Commemorative Tree Trust Fund , Beachfront
Concession Initiatives Program , Beach Renourishment, Resiliency, Sustainability and Resiliency ,
and Biscayne Bay Protection Trust Funds , Police Unclaimed Property and Crash Report Sales
Funds , Police Confiscation Trust Funds (Federal and State), Police Training and School
Resources Fund, the Adopt-a-Bench Program, and the Off-Duty Services Fund.
An analysis of the actual six-month operating revenues and expenses for the period October 1,
2021 through March 31 , 2022, reveals that all Special Revenue Funds have actual expenses that
are less than one half of their current amended budgets primarily due to expenditures that are
typically incurred in the latter part of the fiscal year, except for the 5 th & Alton Garage , as a result
of an increased level of operations . It is important to note that actuals incurred through March 31,
2022 are not always representative of trends for a full fiscal year.
Year-end operating revenue and expenditure projections through September 30, 2022 provide a
more realistic indication of any anticipated year-end surpluses or shortfalls as of this point in time.
While the actual revenues and expenses presented above are as of March 31 , 2022 , the year-
end projections incorporate more current information, if available.
As of the second quarter of FY 2022 , revenues for all Special Revenue Funds are projected to be
equivalent to or in excess of expenditures as of year-end with the exception of the Red Light
Camera Fund that is subsequently explained below . Further, all Special Revenue Funds are
projected to have savings at year-end , including some with significant variances to budget in
excess of 10.0%, or $300 ,000 , except for the 5t h & Alton Garage Fund and Biscayne Point and
Biscayne Beach Special Taxing Districts Special Revenue Funds, which are also further detailed
below.
Red Light Camera Fund -This fund is projected to be 44.0%, or $626,000, below the current
amended budget and expenditures are projected to be in excess of revenues by $310 ,000
due to delays in the deployment and installation of an additional five red light cameras that
were planned as part of the new proposed agreement, as well as revenues from the currently
existing cameras trending lower than budgeted since some cameras are or are anticipated to
be offline for various reasons . As a result , if this projection is realized at year-end , the
$310,000 shortfall in the Red Light Camera Fund will need to be transferred to and funded by
the General Fund for the current fiscal year.
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 11 of 16
Red Light Camera
FY 2022 FY 2022
Amended Budget Projected
Re1.enues $ 1,423 ,000 $ 487 ,000
E xpenditures $ 1,423 ,000 $ 797 ,000
Surplus /(Shortfall) $ 0 $ (310,000)
Projected vs
Amended % O-...er I (Under)
Budget Variance
$ (936 ,000) -65 .8%
$ (626 ,000) -44.0%
$ (310 ,000)
5th & Alton Garage Fund -This fund is projected to be 26.2%, or $177 ,000, above its current
amended budget. This is primarily attributed to an increased in the level of operations taking
place at this garage from what was originally anticipated for the current fiscal year as a result
of COVI D-19. Although this fund is projected to exceed the current amended budget, the
additional expenditures are projected to be offset by additional revenues collected and
available fund balance , if necessary, should these projections be realized at year-end.
5th & Alton Garage
FY 2022 FY 2022 Projected vs
Amended Budget Projected Amended % O-...er I (Under)
Budget Variance
Re1.enues $ 676 ,000 $ 853 ,000 $ 177 ,000 26 .2%
E xpenditures $ 676 ,000 $ 853 ,000 $ 177 ,000 26.2%
S urplus /(Shortfall) $ 0 $ 0 $ 0
Biscayne Point and Biscayne Beach Special Taxing Districts -The Biscayne Point and
Biscayne Beach Special Taxing Districts are projected to be 5.2%, or $12,000, and 2.2%, or
$5,000, above their current amended budgets . This is primarily attributed to increases in the
costs for utilities , as well as unforeseen repairs made in both guardhouses . Although these
funds are projected to exceed their current amended budgets , the additional expenditures are
projected to be offset using available fund balance in both funds, if necessary , should these
projections be realized at year-end.
Biscayne Point Special Taxing District
FY 2022 FY 2022 Projected vs
Amended Budget Projected Amended % O1.er / (Under)
Budget Variance
Revenues $ 229 ,000 $ 241 ,000 $ 12 ,000 5 .2%
E xpenditures $ 229 ,000 $ 241 ,000 $ 12 ,000 5 .2 %
S urplus /(S hortfall) $ 0 $ 0 $ 0
Biscayne Beach Special Taxing District
FY 2022 FY 2022 Projected vs
Amended Budget Projected Amended % O-...er I (Under)
Budget Variance
Re1.enues $ 232 ,000 $ 237 ,000 $ 5 ,000 2.2%
E x penditures $ 232 ,000 $ 237 ,000 $ 5 ,000 2.2 %
Surplus /(Shortfall) $ 0 $ 0 $ 0
Other significant variances in the Special Revenue Funds to note are detailed below.
Transportation -While the projections for the Transportation Fund do not meet the
previously mentioned criteria above requiring a variance explanation, it is important to note
that revenues are projected to exceed expenditures by approximately $3.4 million since the
operations of this fund are primarily supported by 60% of 1 % Resort Tax Quality of Life (QOL)
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 12 of 16
collections that have exceeded budget for the first seven months of the current fiscal year and
are projected to exceed budget for the remaining five months, which may be utilized to
enhance transportation-related services in an upcoming budget amendment.
Transportation
FY 2022 FY 2022 Projected½;
Amended Budget Projected Amended % O-.er I (Under)
Budget Variance
Revenues $ 9 ,023 ,000 $ 12 ,194 ,000 $ 3 ,171 ,000 35.1%
Expenditures $ 9 ,023 ,000 $ 8 ,818 ,000 $ (205,000) -2.3%
S urplus /(S hortfall) $ 0 $ 3,37 6 ,000 $ 3 ,376 ,000
E-911 and PTP -While the E-911 Fund and People's Transportation Plan (PTP) Fund
projections do not also meet the previously mentioned criteria requiring a variance
explanation, it is important to note that the expenditures incurred in these funds are based
mostly on fees that are collected by voice communications service providers (wireless,
wireless prepaid , and non-wireless) and half-cent surtax revenues collected by Miami-Dade
County that are subsequently allocated and remitted to the City annually. Revenues in both
of these funds are projected to be in excess of expenditures as of year-end by $502,000 and
$682 ,000 in the E-911 Fund and PTP Fund, respectively. Therefore, should these additional
projected revenues be realized at year-end , it will be recommended by the City Administration
that the budgets for these funds be amended at year-end to permit for additional allowable
expenditures to be charged back accordingly from the Fire Department's General Fund
operations and Transportation's Other Special Revenue Fund operations .
E-911
FY 2022 FY 2022 Projected ½;
Amended Budget Projected Amended % O-.er I (Under)
Budget Variance
Revenues $ 591 ,000 $ 1,093 ,000 $ 502 ,000 84 .9%
Expenditures $ 591 ,000 $ 591 ,000 $ 0 0.0%
S urpl us /(S hortfall) $ 0 $ 502 ,000 $ 502 ,000
People's Transportation Plan (PTP)
FY 2022 FY 2022 Projected ½;
Amended Budget Projected Amended % O-.er / (Under)
Budget Variance
Re-.enues $ 3,560 ,000 $ 4 ,242 ,000 $ 682 ,000 19.2%
Expenditures $ 3 ,560 ,000 $ 3 ,560 ,000 $ 0 0 .0%
Surplus /(Shortfall) $ 0 $ 682 ,000 $ 682 ,000
RESORT TAX FUND
The City 's Resort Tax Fund is primarily supported by taxes collected pursuant to Chapter 67-930
(Section 6) of the Laws of Florida, as amended, and Section 5.03 of the City of Miami Beach
Charter, as amended. This legislation authorizes the use of Resort Taxes for the promotion of the
tourism industry , which includes , but is not restricted to the following: Publicity , advertising, news
bureau, promotional events , convention bureau activities , capital improvements and the
maintenance of all physical assets in connection therewith ; and for the payment of the reasonable
and necessary expenses of collecting , handling , and processing of said tax.
Typically , the City has considered the following services as "Services Related to the Promotion of
Tourism:"
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 13 of 16
• Police Officers serving entertainment areas
• A portion of Fire Rescue services from Fire Stations 1 & 2
• Ocean Rescue services
• Sidewalk pressure cleaning in South , Middle and North Beach visitor areas
• South Beach sanitation
• Enhanced Code Compliance/Enforcement provided to respond to evening entertainment
area violations and staffing of special events
• Other Code Compliance/Enforcement activities in tourism and visitor related
facilities/areas
• Tourism and Cultural Development Department and the Cultural Arts Council
• Museums and Theatres (Garden Center, Bass Museum , Colony and Byron Carlyle
Theatres)
• Golf courses (net of revenues)
• Memor ial Day and other special event costs
• Homeless services
• July 4t h , Visitor Center funding , Holiday Lights , MDPL, Orange Bowl , etc.
These allowable uses have led to increased tourism-related activities , such as special events
includ ing Art Basel and the Air and Sea Show.
The City is highly dependent on the tourism and hospitality industry. Therefore , due to the impact
of COVI 0-19 on the City's resort taxes , the FY 2022 budget was adopted to assume a caut iously
optimistic rebound in revenues .
2% Resort Tax
Based on the first seven months of actual collections , total two percent Resort Tax revenues for
FY 2022 are projected to be 29 .3%, or $17.7 million , above the current amended budget as of
year-end , with the remaining months in the current fiscal year projected at 15 .0% over FY 2019
collections for the month of May , 10 .0% over FY 2019 collections for the months of June and July ,
and 5.0% over FY 2019 collections for the months of August and September. The projections for
the remainder of the fiscal year are based on monthly collection trends that factor in seasonality
since , historically , a large percentage of the City's resort taxes are normally collected during the
winter and spring months of the year.
Total FY 2022 two percent Resort Tax expenditures are projected to be 3 .9%, or $2.3 million,
above the current amended budget as of year-end , primarily due to an increase in the projected
contributions to the Miami Beach Visitor and Convention Authority (VCA) and Greater Miami
Convention & Visitors Bureau (GMCVB) of $1 .0 million and $1.9 million , respectively , since the
contributions to both the VCA and GMCVB are based on a percentage of two percent Resort Tax
collections that are projected to exceed the current amended budget for FY 2022 . The combined
increase in the projected contributions to the VCA and GMCVB of $2 .9 million for FY 2022 is ,
however, projected to be partially offset by savings of $272 ,000 in the budgeted two percent
subsidy to the 1 % Resort Tax (Convention Center) that is no longer projected to be needed since
projected 1 % Resort Tax revenues (Convention Center) are projected to exceed the required debt
service coverage for FY 2022 and $265 ,000 in personnel and operating-related savings attributed
primarily to various vacancies that departments are in the process of trying to fill.
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 14 of 16
1% Resort Tax (Q uality of Life)
The proceeds of the one percent bed tax for quality of life , as adopted through Resolution No.
2018-30512 , and continuing in FY 2022 , unless otherwise amended by the City Commission , are
to be utilized as follows: 60% allocated for Transportation initiatives in tourist-related areas ; 10%
allocated equally among North Beach, Middle Beach and South Beach for capital projects that
enhance Miami Beach 's tourist related areas ; and 10% allocated to various arts and cultural
programs .
One percent bed tax revenues for FY 2022 are projected to be 41 .2%, or $5 .0 million , above the
current amended budget as of year-end. Concurrently , since transfers for Transportation
initiatives in tourism-related areas, North , Middle , and South Beach quality of life projects , and
various arts and cultural programs that are funded by the Cultural Arts Council are based directly
on the proceeds of the one percent bed tax collected for quality of life , one percent Resort Tax
expenditures are equally projected to be 41 .2%, or $5 .0 million , above the current amended
budget as of year-end , of which $3.0 million is allocated to Transportation initiatives in tourism-
related areas , $1 .5 million allocated to North , Middle , and South Beach quality of life projects
equally , and $501 ,500 allocated for various arts and cultural programs that are funded by the
Cultural Arts Council.
1% Resort Tax (Convention Center)
Lastly , the proceeds of the additional one percent bed tax levied solely for the purposes of
expanding , enlarging , renovating , and/or improving the Miami Beach Convention Center,
including debt service related thereto , as well as providing Capital Renewal and Replacement
funding for the Miami Beach Convention Center, are projected to be 38 .1 %, or $4 . 7 million , above
the current amended budget as of year-end. Since the proceeds of the additional one percent bed
tax must first provide for the payment of debt service and any excess , based on proceeds , be set-
aside for Capital Renewal and Replacement funding for the newly renovated and expanded Miami
Beach Convention Center, additional one percent bed tax expenditures are also projected to be
38.1 %, or $4 .7 million , above the current amended budget as of year-end .
It is important to note that the 1% Resort Tax (Quality of Life) budget is different from the 1%
Resort Tax (Convention Center) budget due to the impact of COVID-19 on Resort Tax revenues
and the City 's cautiously optimistic rebound in revenues , which required the FY 2022 1 % Resort
Tax (Convention Center) budget to include a $272 ,000 subsidy from the 2% Resort Tax to fund
the required annual debt service for FY 2022 . As noted above , since the FY 2022 revenues are
projected to exceed the budget , it is anticipated that the transfer from the 2% Resort Tax will not
be necessary.
Total Resort Tax
Overall , due to actual Resort Tax collections exceeding budget for the first seven months of the
fiscal year and collections for the remaining months of the current fiscal year projected at 15 .0%
over FY 2019 collections for the month of May , 10.0% over FY 2019 collections for the months of
June and July , and 5.0% over FY 2019 collections for the months of August and September,
combined Resort Tax revenues are projected to be 32 .3%, or $27.4 million , above the current
amended budget as of year-end , while expenditures are projected to be 14 .2%, or $12 .1 million ,
above the current amended budget resulting in a projected surplus of $15 .3 million as of year-
end, which the City Administration is recommending, as presented at the FY 2023 City
Commission Budget Retreat on May 20 , 2022 , be set aside and/or allocated for the following :
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 15 of 16
1) $3.2 million for FY 2023 Spring Break Programming to be discussed more in detail during
the development of the FY 2023 budget
2) $5 .5 million to reach the Resort Tax Reserve policy target amount of 6 months , or 50%,
adopted by Resolution No. 2019-30664
3) $6 .6 million to fund anticipated Capital Project gaps
FY 2022 FY 2022 Actuals as of %Actual of Over/ll.lnder) 'la Overl(Under)
Adopted Amended
03/31/22
Amended A,,-nded Alrended
Budget Budget Budget Budget Budget
Re v enues
2% Resort Tax 50,920,000 53,166,000 33,981 ,512 63.9% 70,791 ,000 17 ,625,000 33.2%
Miscellaneous Revenues 368,000 368,000 74 ,426 20.2% 411 ,000 43,000 11 .7%
Fund Balance/Retained Earnings 5,910,000 6,766,000 0 0.0% 6 ,766,000 0 0.0%
1% Resort Tax (QOL) 12,184,000 12,184,000 7,806,043 64.1% 17,200,000 5 ,016,000 41.2%
Additional 1% Resort Tax for Convention Center 12,456,000 12,456,000 7,806,043 62.7% 17,200,000 4 ,744,000 38.1 %
Total Revenues 81 ,838,000 84,940,000 49,668,025 58.5% 112,368,000 27 ,428,000 32.3%
Expenditures
General Fund Contribution 24.866,000 24,866,000 12,433,000 50 .0% 24,866,000 0 0.0%
Sanitation F und Contribution 3,040,000 3,040,000 1,520,000 50.0% 3,040,000 0 0.0%
Contribution to GMCVS 6,889,000 6,889 ,000 2,731 ,249 39.6% 8,796,000 1,907,000 27.7%
Contribution to VCA 2,445,000 2,445,000 1,187,849 48.6% 3,398,000 953,000 39.0%
Contribution to Mt. Sinai 1,000,000 1.000,000 0 0 .0% 1,000,000 0 0.0%
Other O perating/Other Uses 18,758,000 21 ,820,000 13.993,110 64.1% 21 ,283,000 (537,000) -2.5%
Marketing 200,000 240,000 50,981 21.2% 240,000 0 0.0%
Transfer to NB , MB. SB Capital, Transp, and Arts (QOL) 12,184,000 12 ,184,000 7,806,043 64.1% 17,200,000 5,016,000 41 .2%
Addt'I 1 % Conv. Center Debt Service & Ca Ren & Re I. 12,456,000 12,456,000 6,112,151 49.1 % 17,200,000 4 ,744,000 38.1 %
Total Expenditures 81 ,838,000 84,940,000 45,834,183 54.0% 97,023,000 12,083,000 14.2%
Excess of Revenues Over/ Under) Expenditures 0 0 3,833,842 15,345,000 15,345,000
CONCLUSION
All General Fund, Enterprise Funds, Internal Service Funds , and Special Revenue Funds budgets
are projected to be at or below their current FY 2022 amended budgets as of year-end with
revenues projected to be equivalent to or in excess of expenditures , except for the Red Light
Camera , 5th & Alton Garage, and Biscayne Point and Biscayne Beach Special Taxing Districts
Special Revenue Funds. These projected shortfalls and overages, if realized at year-end, will be
closed using a mix of sweeping savings from other funds and use of available fund balance.
The assumptions in the second quarter projections will continue to be proactively monitored
between now and the development of the third quarter projections, as well as during the
development of the FY 2023 budget, and any material variances will be disclosed and discussed
at upcoming Finance and Economic Resiliency Committee (FERC) and/or City Commission
meetings.
ATH/JW/TOS
Letter to Commission -Fiscal Year 2022 Second Quarter Analysis
Page 16 of 16
EXHIBIT A
CITY OF MIAMI BEACH
FY 2022 GENERAL FUND
2ND QUARTER
FY 2022 FY 2022 Actuals asof Adopted Amended 03/31/22 Budget Budget
REVENUES
Ad Valorem Taxes 196,201 ,000 196 ,201 ,000 173,001 ,626
Ad Valorem Taxes -Pay-As-You-Go Capital 2,616,000 2,616,000 2,616,000
Ad Valorem Taxes -Capital Renewal & Replacement 615,000 615 ,000 615,000
Ad Va lore m Taxes -Normandy Shores 252,000 252 ,000 252 ,000
Other Taxes 23 ,966 ,000 23 ,966.000 10 ,263,947
Licenses and Permits 15,054 ,000 15,666 ,000 14 ,642 .341
Inte rgovernmental 11 ,596,000 12 ,066,000 5,726,467
Charges for Services 13 ,192 ,000 13 ,192,000 6,910,369
Fines and Forfeitures 966 ,000 966 ,000 1.604 ,020
Interest 2,662 ,000 3,024.000 2,556,051
Rents and Leases 6,091 ,000 6 ,266,000 3,635,656
Mscella neous 14 ,196 ,000 14 ,702,000 6,240,141
Other-Resort Tax Contribution 24 ,666 ,000 24,666,000 12,433,000
Other-Non-Operating Revenues 14,214 ,000 14 ,214,000 6,643,436
Fund Balance/Retained Earnings 3,797 ,000 13,600,000 0
American R es cue Plan Act (ARPA) Funds 23 600 ,000 23 600 ,000 11 ,777,709
TOT AL REVENUES 354,106 ,000 366,276,000 261 ,340 ,189
EXPENDITURES
Mayor & Commission 2,644 ,000 2,644,000 1,226.220
Ci1y Manager 4,656 ,000 5 ,076,000 2,11 1,422
Marketing and Communications 2,356 ,000 2,356,000 1.009,34 1
Office of Management and Budget (pre v. OBPI) 1,507 ,000 1,526,000 639,656
Org. Dev Peformance Initiatives 1,701 ,000 2,116,000 463,313
Finance 6,526 ,000 6 ,537,000 2,954 ,326
Procurement 2,600 .000 2,657,000 1,226,965
Human Resources/Labor Relatio ns 2,926 ,000 2,954,000 1,264 ,001
City Clerk 1,602 ,000 1,660,000 765,266
City Attorney 6,160 ,000 6 ,603,000 2,679,376
Housing & Community Services 3,536 ,000 4,075,000 1,300,126
Planning 5,014,000 6,065,000 2,250,646
Environment & Sustainability 1,300,000 1,349,000 411 ,716
Tourism and Cuhure 3,445 ,000 3,467,000 695 .726
Economic Development 1,576 ,000 1,652,000 450,939
Code Compliance 6,550 ,000 6,565,000 2,995,504
Parks & Recreation (i ncluding Golf courses ) 36 ,632 ,000 39,057,000 14 ,604 ,934
Property Management 2,502 ,000 2,516,000 1,062 ,632
Public Works 15,001 ,000 15 ,222,000 5,447 ,321
Capital Improvement Projects 5,752 ,000 5,640,000 2,412,009
Police 121 ,229 ,000 124 ,636,000 56 ,561 ,360
Fire 95,995,000 97,557,000 45,234 .446
Citywide (incl. Operating Contingency) 15,162 ,000 16,390,000 4,501 ,155
Normandy Shores 252 ,000 252,000 0
Capital Renewal & Replacement 615 ,000 615,000 0
Jnro & Comm Technology Fund 300,000 300,000 0
Pav-As-You-Go Caoital Fund 3,741 ,000 3,741 000 0
TOTAL EXPENDITURES 354,106,000 366,276,000 152,732,717
EXCESS OF REVENUES OVER/(UNDER) EXPENDITURES 0 0 108607472
1/o Actual of ' Overl(Under) % Ovor~Under)
Amended Amended Amended
Budget ... Budget Budget
86.2% 196 ,201 ,000 0 0.0%
100.0% 2.616,000 0 0.0%
100.0% 615,000 0 0.0%
100.0% 252 ,000 0 0.0%
42.9% 24 ,576,000 592 ,000 2.5%
92.2% 16,626,600 2,740,600 17.3%
47.5% 14 ,020,000 1,954,000 16.2 %
67.5% 14 ,277,000 1,065,000 8.2%
166.0% 2,067,000 1,101 ,000 114.0%1
64.5% 3,666,000 662,000 28.5%
1.0% 6.664,000 596,000 9.5%
42.4% 15,611 ,200 1.109,200 7.5%
50 .0% 24,666 ,000 0 0.0%
48 .1% 14,221 ,000 7,000 0.0%
0 .0% 13,600,000 0 0.0%
49.9% 23,555.000 145 ,000 -0.2 %
71 .4% 376,276,000 10,002 ,000 2.7%
46.5% 2,632 ,000 (12 ,000) -0.5%
41.6% 4,766 ,000 (290,000) -5.7%
42.8% 2,227 ,000 (129,000) -5.5%
41.9% 1,450,000 (76,000) -5.1 %
22.8% 2,061 ,000 (37 ,000) -1.7%
45.2 % 6,475,000 (62 ,000) -0.9%
43.0% 2,704 ,000 (153 ,000) -5.4 %
42.8% 2,949,000 (5,000) -0.2 '%
42.2% 1,757,000 (103,000) -5.5%
40.6% 6,361 ,000 (242 ,000) -3.7%
31.9% 3,79 1,000 (264,000) -7.0%
37.0% 5,926,000 (159,000) -2.6%
30.5% 1,230,000 (119,000) -8.8%
25.6% 3,425,000 (42 ,000) -1.2%
27.3% 1,642 ,000 (10,000) -0.6%
45.5% 6,466,000 (99 ,000) -1.5%
37.9% 36,652 ,000 (205 ,000) -0.5 %
42 .2% 2.401 ,000 (117 ,000) -4 .6%
35.8% 14 ,952 ,000 (270 ,000) -1 .8%
41 .3% 5,624 .000 (216 ,000) -3.7%
45.3% 124,636,000 (20 0,000) -0.2%
46.4% 97,316,000 (241 ,000) -0.2%
24 .5% 17,995,000 (39 5,000) -2 .1%
0.0% 252,000 0 0.0%
0.0% 615,000 0 0.0%
0.0% 300,000 0 0.0%
0.0% 3,741 000 0 0.0%
41.7% 362,608,000 (3,468,000 .Q,9%
29 .7% 13,470,000 13,470 000