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FY2024 Commission Budget WorkshopBudget Workshop Purpose ..... .ft. M¥ Kickoff the FY 2024 budget process with the City Commission - Cover several budget-related topics and identify any areas requiring additional attention ■Increase efficiency of the 3 planned FERC budget briefings that include the Mayor and City Commission 3 3 Budget Timeline ••••• ••••• ••••• Dec Ma Jun- Jul Initiate Budget Development Process Review Budget Submissions with Departments and City Manager City Commission establishes Budget Priorities at Budget Retreat Finance and Economic Resiliency Committee [FERC] Briefings to review Preliminary Operating and Capital Budgets June 23 July 21 July 28 .... . .. . .. 4 4 2 9 s L raquuordog uo uuoa4 jqd uZ gt uaquuordag uo uua4 qd L 4uouunog po~pg pasodo14 azpuy 8WO puo 1a~ouw 41 solo1 ab1yu a4;ual 4es o} spaouu uorssuuuuo 4. 1as1ouddy ado14 a4l uuony paaaJ any0/ 0[q0x0] 4o uo1yo1y40) 1as1uddy ado1y a4l uon} pan1aaJ any0/ a[q0x0] uuunpa44 4snr n 1 Kr [ aun ••••• ••••• ••••• (quo) auypouny 4opng Balancing the Operating Budget i ············· .. @ The Office of Management and Budget is responsible for maintaining a balanced budget, which is required by Florida State Statute 166.24 l A budget is balanced when the sum of estimated net revenues and appropriated fund balances is equal to total appropriations . 7 7 General Fund Reserv es Resolution No. 2019-30954 @ 17%, or 2 month, General Fund Emergency Reserve Requirement ✓Minimum of 2 months for use in a public emergency only Requires 5/7%h vote by City Commission to utilize 8%, or l month, Additional General Fund Contingency Reserve Goal Total Reserve Target: 25%, or 3 months Current Reserve- $95.7 million, or 3 months 8 8 4 Resort Tax Reserves Resolution No. 2019-30664 @ Minimum 2 month Reserve Requirement based on 2% Resort Tax budget ✓Minimum of 2 months for use in a public emergency only Requires 5/7h vote by City Commission to utilize Additional 4 month Reserve Goal based on 2% Resort Tax budget Total Reserve Target: 6 months Current Reserve- $37.8_million, or 6 months . . ..... .. ... . . . . . ... 9 9 Use of General Fund Year-End Surplus Resolution No. 2002-24764 At least 50% of annual General Fund revenues in excess of expenditures be transferred to the Capital Reserve Fund v This policy has been waived in previous years @ l C 10 5 Use of Non-Recurring Revenues Resolution No. 2006-26341 ··············· @ One-time, non-recurring revenues shall be used for capital expenditures or one-time expenditures rather than to subsidize recurring personnel, operations, and maintenance costs ✓This policy has been waived in previous years for specific operations such as Sanitation, Building, and Convention Center, when necessary Goal to fund at least 5% of the annual General Fund operating budget for capital needs • l 11 last five Years - Gen eral fond Capital fonding for fr Acquisition, Maintenance, and Replacement Based on Adopted FY 2023 budget, additional millage of 0.3231 mills required to reach 5% goal FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 General Fund 5% Goel per Policy $ 345,145,000 ]$ 350,043,000 /$ 328,079,000 [ $354,106,000 / $382,618,000 [$ 406,761,000 17,258,000 17,503,000 16,404,000 17,706,000 19,131,000 20,339,000 Capitol Funding Pay-A-You-Go Capital [PayGo] 2,400,000 2,939,000 252,000 3,741,000 3,974,000 3,974,000 Capitol Renewal and Replacement (CRR] 748,000 769,000 43,000 815,000 1,944,000 1,944,000 lnformation Technology [IT] Tech 300,000 300,000 300,000 300,000 300,000 300,000 CRR Under $25,000 247,000 341,000 341,000 332,000 326,000 1,393,000 Total $ 3,695,000 $ 4,349,000 $ 936,000 $ 5,188,000 $ 6,544,000 $ 7,611,000 % of General Fund 1.1% 1.2% 0.3% 1.5% 1.7%, 1.9% Additional Funding Needed $ 13,563,000 $ 13,154,000 ]$ 15,468,000 ]$ 12,518,000 [$ 12,587,000 ]$ 12,728,000 to Meet 5% Goal Adopted Millage Rates for Capital Pay-A-You-Go Capital [PayGo] 0 0755 mill 0 0755 ill 0.0755 mull 0 0755 mill 01020 mill [ TBD Capital Renewal and Replacem ent [CRR] 0.0235 mill 0.0235 +ills 0.0235 mills 0.0235 mill 0.0499 mill 12 Note: As a result of COVID.19, reduced amounts transferred to capital funds in FY 2021, cs pant oh the budget balancing plan 12 6 • d¢ @ FY 2023 8' s Budget e ; eI VIV A e : 13 Capital $ 73.7M FY 2023 Tota l B u d get A ll Fun d s $ 806.8 Million @ Operating $ 733. lM .. , .. · · · ······· 14 14 7 % Where the Money Comes From ... 15 .. .. . 4 .. .. .... ... ··-· ...... ea Other Taxes Resort Tax E Contribution Resort Taxes 10% comprise 69% Charges for Services of Total 4% Fines and General Fund • Forefeits Rents and leases \ 0% AT FY 2023 2% '- General Fund Miscellaneous Interest 4% 1% Revenues Other By Category 24% Licenses & Permits $382.6 5% Million / / Nan Operating 4% sre- t I nlergavern mental 59% 4% 16 8 Ga Zig[Egg.Sa lzECg LiEpe@j G o es ... 17 Other $ 93M 24% Police $ 13 0 M 34% Public Works $16 M 4% FY 2023 General Fund Expenditures By Department $382.6 Million Parks & Rec. $4 3M 11% E Police & Fire comprises 61% of Total General Fund Expenditures, which exceeds Property Taxes \ ._ lev;ed fm FY 2023 ) Fire $ lOOM 27% '8 18 9 4 Debt and Other $7M 2% Internal Services $42M 11% FY 2023 General Fund Expenditures By Category $382.6 Million O pera ting Expenditures $60M 16% / Salar ies and Benefits•••• ' $273M 71% Salaries and Benefits comprise 71% of Total General Fund Expenditures, of which 72% is for Public Safel y / .. · · 19 19 ..................................................• CE > B u d ge t T re n d s # ····························································································---········ 20 10 What's a Millage Rate? - •••• •••• •••• -·· • Tax rate levied per $1,000 of assessed property value that will be used to identify your tax obligation <Zf··. Example: • Assessed value = $100,000 • Millage rate = 5.8155 $100,000/1000 - $100 X 5.8155 21 Combined Millage The current combined millage rate is 211%less than i~FY 200~ llu 90000 8.0000 7.0000 60000 50000 4 0000 a F 30000 $ 20000 1.0000 0.0000 FY FY 2007 2008 D ebt Ser vice Mllage 02990 02415 Operating Mlage 73740 56555 Total Combned 7 6730 58970 = FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 2375 02568 02870 02884 02568 02529 02295 02031 01796 0 1664 01600 02933 03227 02889 02360 56555 56555 62155 6 1655 60909 58634 57942 57092 57092 5 7224 57288 57288 57288 57626 58155 58930 59123 65025 64539 63477 61163 60237 59123 58888 58888 5 8888 60221 60515 60515 60515 22 22 11 a a a i a O verlapping Mi llage l ( ..., OVERLAPPING TAX MILLAGE FY 200 7 % of FY 2023 Variance from %of rY 200 7 Total Y 2007 FY 2023 Total City of Miami Beach 7.6730 32.9% 6.0515 (1.6215) 32.2% The City of Miami I School Boord B.1050 34.8% 6.5890 (1.5160) 35.1% Beach portion of the property tax bill I Miami Dade County has decreased as a C ountyw ide 5.6150 241% 4.6202 (0.9948) 24.6% percentage of the total bill from librory 0.4860 21% 0.2812 (0.2048) 1.5% 32.9% to 32.2% I Debt Service 0.2850 1.2% 0.4853 0.2003 2.6% between FY 2007 Miami-Dade County Subtotol 6.3860 27.4% 5.3867 (0.9993) 28.7% and FY 2023 C hildren's Trust 0.4223 1.8% 0.5000 0.0777 27% \__ Other 0.7355 3.2% 0.2621 (0.4734) 1.4% .,. Total 23.3218 100.0% 18.7893 (4.5325) 100.0% 23 23 Overlapping Millage Miami Beach For Miami-Dade County property owners, each property tax dollar paid is split as shown below , 4 37I»MT3EL) 39TIE EA3 'EA STATES OP.A» DO + ea 009973 or,mo,ft. ~ #e • ~ ............. · :«l ss veal t 68% of MB residents' tax bill goes to other agencies 35¢ RR.".' " - -- --··. ··--,-- -- 3.2 g: . City of Miami Beach a: - 2 9 ¢ Miami-Dade - la County , iat tie vier is fir- siks, tiieii 4¢ oner de'is slit±ssiil Note: "Other" category comp rised of dedicated millage rates for Children's Trust, South Florida Water Mgmt., Ok eechobee Basin, Florida Inland Navigation District [FIND), and Everglades Project 24 24 12 Gen eral Fond Budgeted Exp en ditures [il Expenditures have experienced an average 3.1% growth since FY 2007 : t $450.0 M $400.0 M $350.0 M $300.0 M $250.0 M $200.0 M $150.0 M $100.0 M $50.0 M $0.0K lililllljjj}]lj FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY FY 2007 2008 2009 2010 201 I 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 25 25 Public Safety Trend til i ..--- Public Safety as a percentage of the General Fund budget has increased from: 50% in FY 2007 to 61% in FY 2023 Fire $43.3M 18% Other $119.1M 50% Fire $100.2M 27% Other $1 52.2M 39% Police $75.3M 32% Police $130.2M 34% 2¢ 26 13 po1yddp aup suo1yo0po1 pup squeuuoupqua 4214 ol ssooid pa~pnq uuuodn aq 1o] u1puny yo uipaspq aq4 sap!on4 • -- 1pa posy uoud oq4 u! sp ouos yo [aa] auups au4 upto1d yo 4so a44 suosoidol pa~pnq (10) po4o] ouo 4uo19 a4l • ······· . ........... 3 i [@ • $ ,. .9 ° $89 • @l : s" N , eg$ y egg puny pououa9 tv 0 A 3 '•····· . ......... FY 2024 Preliminary General Fund Budget ES@ I \ l. Assumes no change in operating millage rate 2. Does not include any enhancements or reductions unless approved during FY 2023 3. Assumes l 0% increase for health and life insurance (Actives and Retirees) 4. Includes average 0-3% Merit for Non-Police and Fire and 5% Step for Police and Fire 5. Includes year 3 impacts of Collective Bargaining Agreements Q 29 FY 2024 Preliminary General Fund CSL Budget Fiscal Year 2024 Revenues Expenditures $396.lM $ 406.7M Surplus / (Gap)* ($10.6M) !P roperty Value Increase Necessary to Balance:** Estimated 1 % Increase in Property Value: Preliminary General Fund surplus/(gap) above does not take info account any enhancements to be considered for FY 2024 @ 4.8% $2.2M Based on Certified FY 2023 Values, pending receipt of Preliminary FY 2024 Values to be provided by Property App raiser on July 1, 2023 30 15 FY 2023 to FY 2024 Reven ue Variances $ General Fund $ EY 202 3 Adopted: Increase in General Fund Licenses and Permit revenues from Fire, Planning, Public Works, and Finance based on current year projections Increase in General Fund Franchise and Utility Tax revenues from electricity, gos, etc. based on current year projections Increase in Contribution from Resort Tax Fund for Tourism-Eligible Expenditures [Based on January 2023 study $172.3 million in tourism-eligible expenditures in General Fund] Increase in General Fund revenues from Fines, Rents and Leases, etc. based on current year projections Use of General Fund Prior Year Fund Balance for vehicles scheduled for replacement in FY 2024° Increase in Other Miscellaneous General Fund revenues from Intergovernmental Revenues, Charges for Services, etc. based on current year projections Decrease in use of General Fund Prior Year Fund Balance based on one-time expenditure enhancements approved in FY 2023 budget FY 2024 Preliminary: $ Variance $382,618,000 2,874,000 2,378,000 2,235,000 1,521,000 5,360,000 709,000 (1,593,000) $396,102,000 $13,484,000 Recommended to replace City Center RDA contribution of $5.8 million for replacement of General Fund vehicles that expires in FY 2023 per 4 Amendment to City Center Interlocal Agreement. 31 FY 2023 to FY 2024 Expen di ture Variances $ General Fund $ FY 2023 Adopted: 5% Step for Fire/Police, 0-3% Merit for Non-Fire/Police, and 3% COLA (3% COLA effective April 2024, excl. AFSCME - May 2024) Fire/Police and General Employee Pension Impacts Health Insurance - Actives and Retirees General Fund Contribution to Fleet Management for FY 2024 Vehicle Replacements (FY 2024 General Fund -- $8.5 million, of which $6.9 million or Public Safety) Annualized Impact of Fire Rescue and Boot Unit approved in FY 2023 (FY 2023 pro-rated based on deployment of boat and unit) Additional Funding for Capital Renewal and Replacement Projects Under $25,000 (FY 2024 - $1.4 million) Additional Public Safety Overtime [Fire/Police) Increases in Other Operating Expenditures based on anticipated departmental needs FY 2024 Preliminary: $ Variance $382,618,000 5,086,000 4,186,000 4,640,000 5,360,000 1,721,000 1,067,000 1,233,500 849,500 $406,761,000 $24,143,000 Recommended to replace City Center RDA contribution of $5.8 million for replacement of General Fund vehicles that expires in FY 2023 per 4 Amendment to City Center Interlocal Agreement. 32 16 FY 2024 d¢ R T > 'e sort ax i es i . j -!.- ~ . ~ :~ ., ' • F id .a. · - fr, a • i Uh @% « , • : ,-. '.~ .• "--"'- /; . : fe€@ ff ; RT, · : e "W e8 Sh I' : ; : .,_ .- .-1/ /~~~.-?-. .! ' g J : . ... ~ . . . , . , ··········································· .... ······················································· 33 Resort Tax Bed Tax , 4% 3% e# CE . Visitor staying at a hotel on Miami Beach will pay 14% 4 7% the Note. Additional 1% for Homeless Trust not reflected above (effective January 2024) 34 17 Resort Tax Summary ~ Miami Beach has a 4% bed tax and 2% food & bev. tax • 2% Resort Tax (FY 2023 = $75.7M) o Consists of 2% bed tax and 2% food & beverage tax o Funds tourism-related expenditures ■1 % Resort Tax (FY 2023 = $ l 7.4M) o Consists of l % bed tax Quality of life expenditures: transportation (60%), arts & culture (10%), capital projects in North, Mid, South Beach (10% each] ■1 % Resort Tax (FY 2023 = $ l 7.4M) Consists of 1% bed tax Debt service on the Convention Center Renovation bonds Excess funds set aside tor renewal and replacement of Convention Center assets 35 Total Resort Tax Revenue Collected $16.0M $14.0M $12.0M $10.0M $8.0M $6.0M $4.0M $2.0M $0.0K Oct Nov Dec Jan Feb Mar Apr May Jun Jul FY 2019 -+FY 2020 -«FY 2021 +FY 2022 -+FY 2023 Aug Sep Source: Monthly Collections Reports Published by the Finance Department 36 36 18 FY 20 2 4 P re lim in a ry 2% Re s o rt Ta x Fu n d C S L B ud g et @ , Currently assuming revenues remain flat for FY 2024 over FY 2023 projections Fiscal Year 2024 Revenues Expenditures $ 79.5M $74.6M Surplus / (Gap) $4.9M Note: Does not include $4.9M in enhancements to be considered for FY 2024 37 FY 20 2 3 to FY 20 2 4 R e v e n ue Va ria nc es $ 2% Resort Tax $ Notes FY 2023 Adopted: Increa se in 2% Reso rt Ta x C o llec tio ns Increa se in Interest Inco m e Use of Prio r Year Reso rt Ta x Fund Ba la nce FY 2024 Pre lim inary: $ Variance $75,705,000 6 1 1 9.0 0 0 Ba sed on pro je ct ed FY 20 2 3 2% co llec tio ns (p ro je ct ed FY 20 2 ' ' 2% co llectio ns based on actua l co llec tio ns thro ug h M o rch 20 2 3 ) Ba sed o n curr ent yea r pro jectio ns, w hich toke into acco unt a 1,5 9 3 ,0 0 0 increa sed interest rote enviro nm e nt and cha ng e in th m etho d o lo g y fo r allo ca ting interest acro ss the C ity 's fund s (3 9 5 5 0 0 0 ) Decrea se in use of Reso rt Tax Prio r Year Fund Ba la nce bas ed o one-tim e expend iture enha ncem ents ap p ro ved in FY 20 2 3 budg et $79,462,000 $3,757,00 0 38 19 FY 2023 to FY 2024 Exp enditure Variances $ 2% Resort Tax $ Notes FY 2023 Adopted; Increase in General Fund Contribution for Tourism- Eligible Expenditures Increase in GMCVB and VCA Contributions Increase in OIG, Finance, and Code Compliance Personnel Expenditures, and High lmpact Period South Beach Wine and Food Festival Sponsorship Additional Holiday Lighting Decrease in Expenditure Enhancements Approved as One-Iime in FY 2023 Decrease in Contribution to Sanitation for Services Provided in Tourism-Areas FY 2024 Preliminary; $ Variance $75,705,000 2 235 OOO Based on January 2023 study ($172.3 million in tourism-eligibl ' ' expenditures in General Fund) 883,000 Based an contract terms and legislated formula Based on budgeted increases in personnel costs for FY 202 216,000 (avg. 0-3% merit, 3% COLA effective April 2024, etc.) and othe high impact period operating expenditures 175,000 Renewal sponsorship approved mid-year of FY 2023 119,000 Additional holiday lighting approved mid-year of FY 2023 Spring Break - $3.2M; $500K for large Health and Wellnes (3,955,000) Events; $155K for Marine Patrol Vessel; ond $100K for Oceo Drive Promenade Programming (817,000) Based on January 2023 study ($3.2 million in services provided) $74,561,000 ($1,144,000) 39 FY 2024 Potential Enhancements - Commission Requests [+J ······· ································································································· 40 20 Potential One-Time Enhancements Commission/Committee ltems Funding $FY2024 $FY2025 Resolution/Committee Meeting Miami ERUV Council Grant General Fund 73,000 Resolution No. 2023-32476 Biscayne Elementary Comm. Schoolyard General Fund 70,000 325,000 Resolution No. 2023-3255 l Community Events and Outreach Grants General Fund 70,000 Commission Mtg.- 2/ l /23 PAL CIT Summer Work Program General Fund 51,000 FERC - 4/21/23 Addt'l Normandy Fountain Programming General Fund 25,000 Resolution No. 2023-32499 Hispanic Heritage Festival Grant Match General Fund 15,000 Resolution No. 2023-32502 Volunteercleanup.org Grant General Fund 15,000 Resolution No. 2023-32500 Clean Miami Beach, Inc. Grant General Fund 15,000 Resolution No. 2023-32501 Pelican Harbour Seabird Station General Fund 15,000 Commission Mtg. - 3/27 /23 CMB Lile-Safety Institute of Fire and EMS General Fund 10,000 Resolution No. 2023-32503 Total General Fund $359,00 0 $325,000 ............. . ......... ...... ................................. . ............. 41 Potential One-Time Enhancements Commission Committee Items Funding $ FY 2024 $ FY 2025 Resolution/Committee Meeting Ocean Drive Promenade Programming Resort Tax 101,000 FERC - I /27/23 South Beach Jazz Festival Resort Tax 50,000 FERC - 4/21/23 Total Resort Tax 151,000 Relaunch of Sleepless Nights CAC 100,000 900,000 FERC - 3/31/23 Total Other Funds 100,000 900,000 Total All Funds $610,000 $1,225,000 42 21 Potential Recurring Enhancements ~ Commission/Committee ltems Funding $FY2024 $FY2025 Resolution/Committee Meeting Tree Wrapping and Banding General Fund 3,672,000 517,000 PSNQLC - 11/30/22 Police Mounted Patrol Unit General Fund 1,327,000 1,026,000 Resolution No. 2023-32478 Traffic Management {PSS) General Fund 944,000 790,000 FERC - 4/21 /23 Beachwalk Park Rangers General Fund 831,000 986,000 Commission Mtg. - 4/28/23 Travel Soccer Program General Fund 410,000 424,000 Commission Mtg. - 4/28/23 County legislative Consulting Services General Fund 84,000 84,000 Resolution No. 2023-32536 City Ombudsman/Permit Advocate General Fund 82,000 104,000 FERC - 2/17 /23 Rental Appl. Fee Reimbursement Pilot General Fund 80,000 98,000 FERC - 2/17 /23 Enzo Gollo Murol Storage General Fund 60,000 62,000 Resolution No. 2022-32204 Cot Program Adoption Supplies General Fund 41,000 41,000 PSNQLC - 4/27 /22 Total General Fund $7,531,000 $4,132,000 43 Potential Recurring Enhancements Commission/Committee ltems Funding $FY2024 $FY2025 Resolution/Committee Meeting Spring Break Programming Resort Tax 3,200,000 3,200,000 Commission Mtg. - 12/14/22 Additional Holiday Lighting Resort T ox 500,000 550,000 Commission Mtg.- 12/14/22 City Center Park Rangers Resort Tax 341,000 362,000 Commission Mtg. - 2/22/23 Total Resort Tax 4,041,000 4,112,000 Water Taxi Subsidy Program Transportation 600,000 600,000 Commission Mtg - 3/27/23 Customer Relationship Mgmt. System Info Tech 500,000 500,000 FERC - 1/27/23 Freebee Expansion Transportation 325,000 325,000 FERC - 4/21/23 C ustom er Service Solid Waste Sanitation 40,000 170,000 FERC - 3/31/23 Mid Beach Compost Hub Sustainability 125,000 50,000 FERC - 1/27/23 Full Tim e Cat Trapper Position San itat ion 121,000 78,000 PSNQC - 4/27/22 Contract Comp. Admin (Solid Waste) Sanitation 94,000 116,000 FERC - 3/31/23 Holiday Lighting M ainten ance Facilities Mgmt 65,000 70,000 Commission Mtg.- 12/14/22 Total Other Funds 1,970,000 1,909,000 Total All Funds $13,542,000 $10,153,000 44 22 Po lic e M o u n te d Pa tro l U n it g t Based on discussion at 11/16/2022 City Commission meeting - Proposed staffing o Enhances staffing during special events and high impact periods Facilitates crowd control during large events, search and rescue, and sight advantages, among other things 4Horses, stable, and staffing of 4 Police Officers plus l Sergeant • Year 1-$1.3M (including one-time start-up) Estimated recurring cost of $1.0M 4 45 Traffic Management .......... ,Hr V/ Ir Ty Ir • Based on discussion at 11/16/2022 City Commission meeting • To address traffic congestion throughout the City o 1 0 full-time Public Safety Specialist positions o Versatile positions capable of responding to traffic crashes, stalled/stranded motorists and re-routing traffic conditions Year 1 - $944K (including equipment) • Estimated recurring cost of $790K 46 23 Addition al Park Rangers es] ■Current Positions: 40 full-time Park Rangers, plus 2 Supervisors, to patrol City park areas and address violations Proposed additional staffing: 1) 9 full-time Park Rangers and l Supervisor to enhance coverage on the Beachwalk from 46" Street to 87%h Terrace, as well as Altos Del Mar Park, Bandshell Park, and Allison Park ,- FY 2024 cost 6f $831K (General Fund) 2) 4 full-time Park Rangers to enhance coverage in the City Center area of Collins Park, Soundscape Park, Collins Canal Park, and Pride Park ,- FY 2024 cost 6f $341K (Resort Tax) 47 Additional Holiday Lighting ·}.: "em > ■Based on discussion at 12/14/2022 City Commission meeting ■Request is in addition to $700K included in preliminary FY 2024 budget for holiday lighting ■Expand holiday lighting to allow additional parts of the City to be decorated with lights and decor during the holiday season o Additional $500K for new holiday lighting and displays that may come from various Committees prior to the holiday season ■Additional $65K for maintenance of existing lighting 48 24 Tree Wrapping with Lights and Banding • Based on discussion at 11/30/2022 PSNQLC meeting to beautify and improve pedestrian safety • Expand tree lighting, similar to lighting in the areas of 41 st Street and 71s Street, in the following ar eas o Ligh ti ng for 260 trees on Collins Avenue [fr om 5 to 23" Street) , $1.8M (One-time) and annual recurring cost of $177K o Lig htin g for 99 trees on Ocean Drive [fr om 5to 15 Street) ::.- $428K (One-time) and annual recurring cost of $51K Lighting for 360 trees on Washington Avenue (from 5t6 17h Street) ►$1.1 M (One-time) and annual recurring cost of $133K ,- Alternative is to remove and replace existing lighting ($218K) • Palm banding services - $105k 49 49 Cat Program ¢ • Based on discussion at 04/27/2022 PSNQLC meeting • Full-time Cat Coordinator position, plus operating costs of approx. $75K included in preliminary FY 2024 budget • Additional requests 1) Full-time Cat Trapper position to provide cat trapping services in support of the TNVR program and work with the existing the Cat Coordinator to as sist in the recruitment and training of new volunteer cat tra ppers - FY 2024 -$12 1K (incl. one-time costs); FY 20 25 - $7 8K 2) Cleaning/vet tech assistance, food, litter, air filters, transportation of cats, gloves, fecal test supplies, medication, emergency healthcar e services, vaccines, etc. ($4lK annu ally)................................... 50 50 25 Spr ing Break Programming ? $3.2M approved as a one-time programming enhancement for FY 2023 • FY 2024 CSL budget includes $1.7M for enhanced Police staffing during Spring Break 5 51 FY 2024 Potential Enhancements - Administration [+] Excerpt of Administration's enhancement list 52 26 Pot en tial Publ ic Safely Enhancements Administration ltems Funding $FY2024 $FY 2025 4 FTE Fire positions (PIO, Special Events, FTO, Fire Protection Analyst) Beachwalk Safety Enhancements (Transportation) K-9 Training Facility Trailer (Police) Rapid DNA Testing [Police) Rescue Tran sport Gator (Fire) l PT Police (OAIII) FUR Thermal Optics Solution (Police) General Fund Special Revenue General Fund General Fund General Fund General Fund General Fund 492,000 638,000 200,000 115,000 92,000 145,000 82,000 37,000 39,000 36,000 36,000 Excerpt of Administration's enhancement list 53 Potential Economic Development & Community Engag em ent Enhancem en ts Administration Items Funding $ FY 2024 $ FY 2025 Additional Cultural Arts Council (CAC) Grants Special Revenue 250,000 250,000 Additional Promotions (Economic Development) General Fund 235,000 235,000 Marketing & Public Relations (Economic Development) General Fund 150,000 150,000 l FTE Marketing & Comm. (Social Media Specialist) General Fund 81,000 101,000 Legacy Art Purchase Program [Tourism and Culture) Special Revenue 50,000 50,000 Excerpt of Administration's enhancement 54 27 Potential M obility & Operational Enhancements Administration ltems Funding $FY2024 $FY 2025 Restoring Trolley Service to Pre-Pandemic Svc. Levels [Transportation) Special Revenue 1,782,000 1,782,000 Living Woge increase Various 514,000 514,000 5 FTE Public Works (Emergency Landscaping Crew) General Fund 382,000 341,000 3 FTE Clerk (Citywide Records Management) General Fund 289,000 371,000 Traffic Signal Optimization Pilot Project (Transportation) Special Revenue 229,000 1 FTE - P3 Coordinator for Public/Private Partnerships General Fund 176,000 221,000 2 FTE Parks & Rec (Special Events, Athletic Field Specialist) General Fund 131,000 166,000 5 PT Parks & Rec [Inclusionary Aides, Athletic Field Specialist) General Fund 112,000 118,000 Additional Market Studies (Facilities) General Fund 75,000 75,000 1 FTE Facilities position (OAIV) Internal Service 63,000 78,000 GIS Near Map (Public Works) General Fund 16,000 16,000 *Excerpt of Administration's enhancement 55 FY 2023 Update as of Q2 i e o " es «° $) • ° @ • e _· "3 e, go._. . .s._. Cs _. >° ~ • v sf te <> ······································································································ 56 28 • FY 2 0 2 3 Q 2 G en er al Fund U p d ate @ General Fund $ Q l Projected Surplus Appropriated to Date 7,970,000 (4,650,000) Remaining Ql Projection Q2 Projected Surplus Appropriated to Date Additional Homeless Trust Set-aside 3,320,000 11,289,000 (4,650,000) (1,000,000) Q 2 Proje cted Surplus 5,639,000 Recommended use of projected Q 2 surplus • Set-aside additional $ l .OM for Homeless Trust based on April 28, 2023 Commission meeting • Set-aside remaining funds of $56M for Capital Project Needs, Replacement of Vehicles and Equipment, and General Fund Reserve Requirement 57 57 FY 2 0 23 Q 2 Re sor t Tax U pdate 2% Resort Tax Fund $ Q l Projected Surplus 2,094,000 Appropriated to Date (0) Remaining Ql Projection 2,094,000 Q2 Projected Surplus 6,668,000 Appropriated to Date (0) Q 2 Projected Surplus 6,668,00 0 @ Recommended use of pro jected Q2 surplus Set-aside remaining funds of $6.7M for addition al co ntribution to General Fund for Tourism-Eligible Expen diture s and on e-tim e enhancements that may be considered for FY 2024 *Based on Cost Allocation Study completed January 2023 by outside consultant, $172.3 million in tourism-eligible expenditures in General Fund; FY 2023 contribution - $39.2 million 2 58 29 C o m m u n ity O rg a n iz a tio n Grants Cl $,%= $. ((> t> + ········································································································ 59 Community Organization Grants 9% Items Funding FY 2021 FY 2022 FY 2023 Miami Beach Botanical Gardens General Fund $152,000 $152,000 $152,000 FIU - Jewish Museum General Fund 50,000 50,000 50,000 UNIDAD Meals Program General Fund 230,000 230,000 230,000 Jewish Community Services of South Florido, Inc. General Fund 47,000 47,000 47,000 Miami Beach Chamber/Visitor's Center General Fund 36,000 36,000 36,000 MB Gay & Lesbian Chamber of Commerce General Fund 25,000 25,000 25,000 South Florido Hispanic Chamber of Commerce General Fund 24,000 24,000 24,000 M iam i Design Preserv ation League General Fund 23,000 23,000 23,000 Douglas Gardens Community Health Center, Inc. General Fund 22,000 22,000 22,000 Miami Beach Community Health Center General Fund 22,000 22,000 22,000 Boys and Girls Club General Fund 17,000 17,000 17,000 O range Bow l C om m ittee General Fund 17,000 17,000 17,000 Shone Row ing C enter General Fund 85,000 85,000 85,000 Save found ation , Inc. General Fund Captain Hymon Jewish learning Center General Fund Total $750,000 $750,000 $750,000 ................................ '' ..... 60 FY 2024 $152,000 50,000 230,000 47,000 36,000 25,000 24,000 23,000 22,000 22,000 17,000 17,000 85,000 25,000 25,000 $800,000 60 30 G ra nts A p p ro v e d by City Commission Mid-Year FY 2023 ~ Items Funding $ Resolution No. Miami Beach ERUV Council, Inc. General Fund 72,500 2023-32476 Normandy Fountain Business Association General Fund 25,000 2023-32499 Temple Moses General Fund 25,000 2023-32505 Volunteercleanup.org General Fund 15,000 2023-32500 Clean Miami Beach, Inc. General Fund 15,000 2023-32501 Hispanic Heritage Festival General Fund 15,000 2023-32502 Miami Beach Lile-Safety Institute of Fire & EMS General Fund 10,000 2023-32503 Save Foundation, Inc General Fund 75,000 Approved April 28, 2023 Captain Hyman P. Galbut Jewish Learning Center General Fund 25,000 2023-32472 Total $ 277,500 Nole; $25,000 for Save Foundation, Inc. and $25,000 for Captain Hyman P. Ga/but Jewish Learning Center included in FY 2024 General Fund budget per adopted 2023 Resolutions 61 61 Cultural Arts Council (CAC) Grants Recurrin Items FY 2021 FY 2022 FY 2023 Miami Beach Cultural Anchors Miami Beach Cultural Categories: Dance Film Multi-Disciplinary Music Opera Theater Visual Arts Total $348,482 $346,920 $324,908 91,648 99,400 70,720 71,958 59,800 64,752 66,722 76,400 87,625 207,992 182,365 215,341 30,215 17,200 29,372 16,110 18,000 14,663 14,678 18,000 14,26l $499,323 $471,165 $496,734 otal FY 2024 TBD TBD TBD TBD TBD TBD TBD TBD TBD $847,805 $818,085° $821,642° $850,000 ~ "Given the uncertainty of several cultural organizations at the time, the CAC reserved a larger contingency than normal in the FY 2022 grant budget One applicant withdrew their application which was initially awarded $21,547 The applicant, along with their grant award, were removed from Exhibit E prior to the September budget meeting 62 62 31 Special Even ts Spo n sorship s 5 • ~ ········································································································· 63 Budgeted City Sponsorships for Special Events Items Funding FY 2021 FY 2022 FY 2023 FY 2024 Miami Beach Air & Seo Show Resort Tax $350,000 $350,000 $350,000 July 4th Fireworks Resort Tax 100,000 1 00,00O 150,000 Miami Beach Pride Resort Tax 188,000 188,000 188,000 Special Events Marketing Sponsorships Resort Tax 50,000 50,000 50,000 MDPL Art Deco Weekend Resort Tax 100,000 100,000 150,000 American Black Film Festival Resort Tax 200,000 City Sponsorships for Special Events Awarded Resort Tax 400,000 400,000 through Sponsorship Application Program Miami Beach Seafood Festival Resort Tax 20,000 15,000 Normandy Fountain Business Association General Fund 35,000 35,000 O cean Drive Pro m enade Pro gra m m ing Resort Tax 100,000 Formula 1 Race Weekend Resort Tax 236,000 South Beach Wine and Food Festival Resort Tax Total $788,000 $1,443,000 $1,674,000 $350,000 150,000 188,000 50,000 150,000 400,000 10,000 35,000 236,000 175,000 $1,744,000 Note_ City sponsorships listed above do not include any additional Special Events Fee Waivers approved by the City Commission mid-year. Prior year sponsorships were in the form ot special event waivers 64 32 Budgeted City Sponsorships Awarded %g° through Spo nsorship Application Program " Items Funding FY 2021 FY 2022 FY 2023 FY 2024° Amount Allocated Through Budget Resort Tax $400,000 $400,000 $400,000 City Sponsorships for Special Events Awarded through Sponsorship Application Program Miami Swim Week Resort Tax 7,000 28,000 American Black Film Festival Resort Tax 171,000 103,000 South Beach Jazz Festival Resort Tax 25,000 30,000 FIU Surf and Turf Volleyball Tournament Resort Tax 8,000 King of the Court Volleyball Tournament Resort Tax 258,000 Total Sponsorships $0 $32,000 $201,000 $397,000 Balance Remaining to be Allocated $368,000 $199,000 $3,000 FY 2024 sponsorships have gone through the application process and are pending Commission approval 6 65 Non-Budgeted Special Events City Sponsorships % Items Funding FY 2021 FY 2022 FY 2023 Formula 1 Race Weekend Resort Tax $- $235,162 $- College Football/Orange Bowl Resort Tax 500,000 South Beach Wine and Food Festival Resort Tax 162,333 215,849 125,000 Ocean Drive Association- New Year's Eve Resort Tax 25,000 Ocean Drive Association - 4th of July Fireworks Resort Tax 20,000 35,250 Pro Footvolley Tour Resort Tax 15,000 South Beach Jazz Resort Tax 25,000 International Piano Festival Resort Tax 55,000 Total - Non-Budgeted City Sponsorships $747,333 $486,261 $180,000 FY 2024 TBD TBD TBD TBD TBD TBD TBD TBD TBD Rental Waiver 6 66 33 All Special Events Fee Waivers Mi 4 s Items FY 2021 FY 2022 FY 2023 Art Deco Weekend FIU Surf N Turf Beach Volleyball Tournomenl Miami Beach Pride Model Volleyball South Beach Seafood Festival South Beach W ine and Food Festival Winier Porty Celebrity Soccer Match College Foo tball Playoff Ocean Drive Associ at ion - New Year's Eve Ocean Drive Association - 4th of July Fireworks Pro Footvolley Tour - Miami Beach Series WPL Beach Polo FTX Race Weekend/Miami Beach Roce Weekend GroundUp Music Festival Juneleenth Food Festival Nicole Henry Concert Piano Festival $35,323 30,000 120,102 13,155 50,000 2,217 93,000 2,65B 11,362 Total Spe cial Events Fee Waivers $357,817 $35,194 11,627 30,000 25,000 58,970 142,517 5,558 11,000 140,585 6,162 12,220 $478,833 $44,832 6,500 39,302 21,000 75,134 117,050 31,353 8,000 140,585 6,000 20,000 $510,029 FY2024 - TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD TBD 67 67 II.a. r±A=._Ast&.___pg"g. ___ _ 68 34 F Y 2 0 2 4 -2 0 2 8 C a p it a l Im p r o v e m e n t P la n $336.0M W ater & Sewer GO Bonds Stormwater Pay-Go Parking/Garages Transportation Other Capital Convention Center 1% Quality of Life Capital R&R Total: 263.0M 238.9M 110.7M 48.8M 39.5M 28.9M 22.7M 22.6M 15.6M $1.127B Capital project expenditures over the next 5 fiscal year a 69 69 Budget Gap Summary FY 2024 R equests Total Available Fund Request Funding" Difference $ $ Capital Renewal & 7.5M 2.0M ($5.5M) Replacement (CRR) Resort Tax Quality of Life 15.2M 8.2M (7.0M) PAYGO 37.7M 9.7M (28.0M) Water & Sewer 49.6M 29.0M (20.6M) Includes funding set-aside for project gaps and projected FY 2024 revenues, where applicable kl • 70 70 35 Commission Capital Project Requests Items $ Resolution # / Meeting Commission/Committee Requests Parkview Water Quality Improvement Beachwalk Bollards Citywide Fairway Park Soccer Turf Monument Island Restoration MB Senior High Pick-Up Drop-Off Lane Flamingo Park Soccer Turf 2,000,000 FERC Referral - 3/27 /23 1,700,000 Commission Meeting Referral - 4/28/23 1,500,000 Commission Meeting - 4/28/23 910,000 Commission Meeting - 4/28/23 600,000 Resolution# 2023-32530 300,000 Commission Meeting - 4/28/23 Total $ 7,010,000 71 Capital Requests Facilities. @ Projects FY 2024 Security Enhancements Citywide Historic City Hall VFD Replacement Fleet Management Solar Panel Installation Artistic Bollards EV Charging Stations (various locations) Historic City Hall HVAC Renewal Other Facilities Projects TOTAL 1,364,726 800,000 800,000 750,000 550,000 500,000 7,371,812 $12,136,538 Requested from Capital PayGo, CRR, Resort Tax Quality of Lile (QOLJ and/or other funds 72 36 C apital Requests - Parks @ Projects FY 2024 Flamingo Park Football Stadium Turf Flamingo Park Playground Replacement Citywide Pickleball and Padel Courts Other Fairway Park Improvements Biscayne Elementary Shared Field Lighting Other Parks Projects TOTAL 1,215,000 926,000 676,000 592,000 583,000 4,221,500 $8,213,500 Requested from Capital PayGo, CRR, Resort Tax Quality of Lite (QOL) and/or other funds 73 ....................... Capital Project Gaps - GO Bond @ Project Updated Approved Available FY 2024 Description Budget Budget Budget Request Fire Station $25.8M $20.9M $20.9M $4.9M Cost Escalation #1 $2.5M grant applied for $2.4M recommended in FY 2024 Police HQ $17.3M $15.8M $12.8M $4.5M Estimated gap - Recommend Funding from FY 2023 transfer to Capital Reserve 74 37 R esilience capital Projects LL~ Miami Beach is vulnerable to compound flood risk and damage from storm surge, rainfall, and sea level rise. Significant infrastructure improvements are needed, including: Water and sewer infrastructure Stormwater infrastructure Road elevation Seawalls Dune restoration These investments provide quality of life co-benefits today New roads, sidewalks, lighting, bike lanes, landscaping 75 1crcal Capital Needs LJp,data@ Critical Capital Needs Funding Through Fiscal Year 2024($122.2M) • Pay-As-You-Go Funding ($23.7 M) • Remaining Proceeds from Series 2017 Bods ($48.3 .M) Proceeds from Issuance of Additional Bonds in 2022 ($50.2 M) $122 million of critical needs ( were identified in the 2019 Master Plan Commission approved a funding plan for the $122 million in 2020 75% of projects currently underway Significant cost increase: market driven + new emergency needs 76 38 C ritica l C a pita l N eed s 5-year schedule of rate increases approved in November 2020 FY 2024 rate increase is 3.6% c Expected bond issuance likely in late FY 2024 .. ..... . . .... ua. G Fiscal Year Rate Increase FY 2021 0.0% FY 2022 1.0 % FY 20 23 FY 2024 FY 20 25 3.6% 3.6 % 3.7% • Some Water & Sewer capital needs will be addressed as part of NIPs and FDOT projects • Funding for these projects will require future rate increases that will depend on the projects selected and timing of implementation 77 77 Update to Critical Needs W&S Plan (75% Underway) Total Updated Budget Appropriated to Date Grants Remaining to be Appropriated 22 2.2 M (88.0M) (14.6M) 119 .6M @ .8 78 39 $29M awarded for construction/ rehabilitation • >$8M in design for pipelines and pump stations - construction budget estimated at $139M I I ' ,/4t¢ ""- jl--- r [! I f~ /:. ·;,!. • j ] [ he I i i I 'z-: I #=i i ±. ] '';;''i - on going Potable Water System Project , !-Ongoing Sewer System Project - Ongoing W ater and Sewer System Proj ect " r 1/ l ±@ i ¥1 ·q i I ,1 ·4%4, # "l k/,# Mp,, .4 , I 'y!; . < tO ,:;:,11 . ij I l!\N ~.··'rfi'· ·*1/ u w·• 11 I', ### + d' l:ql :\:1, ·· '. .J! 'l 'il' i /1g I: +' ii'j '\ 79 C u rre nt Neighborhood Projects @ Indian Creek • Phase Ill - Road raising and utilities scope complete • Seawall construction work - Near complete - Fully Funded • Landscape - Construction to start summer 2023 West Avenue • Phase II - North Segment - Fully Funded • Phase Ill - South Segment - Anticipated Budget - $46M 8 80 4 0 Current Neighborhood Projects @ First Street Total Funding: $46M (funded) + $20M (Grant) + $5M (GO Bond) = Total funded $71 M • Total Project Needs Preliminary Estimate: $ l 68M • Next step: Complete 60% Design, Independent Estimate Validation and Project Phasing North Beach Town Center • $10M grant funded design + $4M (GO Bond -- above ground) + Construction Unfunded • Design Negotiations are Ongoing 81 { L Legend l cont course [Jessa» [war sea+ coy ums Projects in Progress 1. West Ave 2. Indian Creek 3. First St. 4. North Shore Town Center +y 0 Mau t lot +-- _' -· % /l v I [ es> {$"""""2."",", lloo+slloss.s El s no»+l o «c l'w o o+ ll "+o···oo « "on+ Potion ser«a» lcorcvs l o s s lass«« as s ls »,o la o««. ·os» ssso or s nor»so so s«e a».+ c oo «o »o.+s a »so+oc ss o c loss ·s o«c loss«r » o r »el » woos+s on+c +so»A sso+ors·e l o +o·so Roa l oss.m s ·o vs. ova aw «c n so s« w so,«+ «so+s ssrose loo less·+ luoco» sews·s n+coo »vows +uoo« »«so+A lore a rowe r s« o. row»u se » woo»a l o o «e o s o«es , ts«s sssos»so+A 82 41 O th er S t o rm w a t er Projects Master Plan Update completion end of 2023 • Ongoing Drainage Water Quality improvement designs: -Drainage Pump Station 10 $200k (permitting, construction funded) -Drainage Pump Station 24 $2M (60% design, construction funded) -Drainage Pump Station 32 $400k (construction procurement, unfunded) @- • Upcoming designs with unfunded needs: -Parkview Outfalls Water Quality, $200k design funded, $2M construction FY25 unfunded -North Nautilus F, $400k design funded, $5M construction FY 26 unfunded 83 83 Public S ea w a lls 53 Miles of Seawall • 4.15 Miles are Public • l .2 Mile completed and 1 8 segments in progress Seawall Prioritization plan completed (66 Seawalls identified which includes 3 Living Shoreline projects) $49Min Design/Construction/CE! Cost $5.5M available from GO Bond • $1 l M available from Citywide Seawalls Funding Gap= $32.5M in future years "maim I "mwM. 8 84 42 24 Vehicular Bridges Citywide Assessment Completed 2022 ■Design complete, in construction procurement -77th St.(876719) over Tatum Waterway -Henedon Ave.(876721) over Biscayne Point Canal -73rd St.(876732) over Tatum Waterw ay ■$ l l M R&R for 12 bridges (3 per year, FY25- FY28, unfunded) 6 Pedestrian ride, F€. • ■6 Pedestrian Bridges - Assessment complete ' Liberty Ave. in construction, August 2023 Completion ($500k, funded) • Lincoln Ct. design/permitting in progress ($30k, funded) • 4others planned FY24-FY26 ($800k construction unfunded).......... 85 85 Sidewalk, Pavement & Lighting • Sidewalk GOB Project #37 : $13 Million 605,000 SF(26%) of sidewalk have been replaced across the city at a cost of about $3.5M. ■Streets GOB Project #38 : $30 Million 39.3 miles (16%) of roadway have been repaved across the city at a cost of about $5.4M. Street Lighting Improvements GOB Tl $3.5M in Design, construction in FY2A s» ie"Tf 7",,.·1.:. -~;;_ .. L.; _:j_~:~ ~ =-~ ' s f • ea • ear «- ?3 - fl g° ±l id. , 9 I'?~ : =· ·:ii:~' • L- "e,'! ? bpgg - $js if±i = hi--- 5 ..»ult_s i.,e "area : i_ ¾I_•. ' •1··• lw.7i. ,. ==== 7-} T#/j =- is.'«%? {{ L @ :3 -= # Pe.. 86 86 43 C a pi tal Project Gaps -Ula, @ Project Total Approved Available FY 2024 Future Description Budget Budget Budget Request Needs Convention $6.4M Center /Lincoln $60.5M $57.6M $54.lM $6.4M $0.0M recommended in Rd. Connector FY 2024 17th Street $2.0M Renovations $48.0M $2.0M $2.0M $2.0M $44.0M recommended in FY 2024 West Ave $10M grant Phase Ill $46.4M $0 $10.0M $10.0M $26.4M match recommended in FY 2024 8 87 Private Adaptation @ Program ,t% a - , I a gf y i ........... 88 44 Private A da ptation Progra m - -- a --- a a a FY 2023 FY 2024 FY2025 TOTAL Revenues Available Funding $1,998,000 $897,900 $475,425 $1,998,000 FY 2024 Requested Appropriation 666,000 666,000 1,332,000 Total Revenue $1,9 9 8 ,0 0 0 $1,5 6 3 ,9 0 0 $1,14 1,4 2 5 $3 ,3 30,0 0 0 Expenditures Assessments, Administration: Total ($333,300) ($175,825) ($175,825) ($684,950) Improvements ($17,500 each) (735,000) (875,000) (87 5,000) (2,485,000) Construction Oversight/Contingency (31,800) (37,650) (37,650) (107,100) Total Expenditures ($1,10 0,10 0) ($1,0 8 8,4 7 5) ($1,0 8 8 ,4 7 5 ) ($3,27 7 ,050) Balance Remaining $897,900 $475,425 $52,950 $52,950 Number of properties 42 50 50 142 ............... 89 89 ), . M] Nf , . r ~ ~ •-~ ~ ~ -. a g @? 9 : gr, r · .. =--c=---.@ ~ : @ S S@? • - . ········ ... ······················································································· 90 45 FY 2024 Preliminary General Fund CSL Budget Fiscal Year 2024 Revenues Expenditures $396.lM $ 406.7M Surplus / (Gap) ($10.6M) Property Value Increase Necessary to Balance: Estimated l % Increase in Property Value: Preliminary General Fund surplus/{gap] above does not take into account any enhancements to be considered for FY 2024 @ 4.8% $2.2M * *Based on Certified FY 2023 Values, pending. receipt of Preliminary FY 2024 Values to be provided by Property Appraiser on Joly 1, 2023 91 91 FY 2024 Preliminary 2% Resort Tax Fund CSL Budget @ ,- Currently assuming revenues remain flat for FY 2024 over FY 2023 projections Fiscal Year 2024 Revenues Expenditures $ 79.5M $ 74.6M Surplus / (Gap) $4.9M Note: Does not include $4.9M in enhancements to be considered for FY 2024 92 92 46 Lv tv6 ••••• ••••• ••••• s de 4g p aN ••••• ••••• ••••• 8v 7 $4u 04 L .1 :- G6 ·························· q8 aaquuaidas spa~pnoq po4dp pup buy1ado puny 4dop o sap1 abpppuu pouy 4dop o ONI83H I18n 4 0N O 3 S • q tv L aaquu aidos spa~p n q pj dp pup buy1ado any4uor 4dop o soy1 abpyuu any4uo4 4dop o ONIIV3H I78nd ISI · 4sn~ny 1a~p g pasodon4 oz1puy 8WO pup 1ab u w 4) ••••• ••••• •••••