Create an Account - Increase your productivity, customize your experience, and engage in information you care about.
(MIAMI, OK.) The City of Miami’s 2022/2023 Fiscal Year Budget has been the topic of several ongoing team meetings and discussions including Miami City Council, Mayor Bless Parker, City staff and Miami’s City Manager Bo Reese.
Reese explained the City’s budget process used to the Miami City Council members at Monday’s City Council meeting with staff. The meeting was open to the public.
Reese said budget sheets were sent to each department director or manager using five-year averages to help calculate revenues and expenses. Subsequently group staff meetings were held to discuss initial budgets, and adjustments were made accordingly. Miami’s Administrative Director Jill Fitzgibbon and staff then updated budget spread sheets before Monday’s initial presentation to the Council members.
“It is a balanced budget,” Reese told the Council and Mayor.
Emphasis was placed on the fact that the 2022/2023 Fiscal Year Budget is still preliminary and a work in progress, and numbers and dollar amounts will change as planning continues. The budget will not be finalized until June when approved by the Council.
General Obligation Fund
Regarding the General Fund, overall projected revenues total $19,971,025 and projected expenditures total $19,963,990, this includes transfers in totaling $8,520,545. With the past two years producing record City Sales and Use Tax revenues in Miami, projected to be around $7,527,500, the primary focus of budget revenue discussions has been whether this level of revenue income is an anomaly and is sustainable, and at what level. Many possible factors influencing the tax revenue growth were discussed including COVID related spending, medical marijuana revenues, and Federal relief spending.
“We’re finishing this fiscal year really, really strong,” Reese said, “We need to bet on ourselves. I am pushing my comfort level and stretching our wings in some areas, but I tend to operate conservatively in fiscal matters.”
Citing focus on employee retention and recruitment as vital with an average of 10 percent overall in job vacancy in employment over the past fiscal year, Reese said, “This has been tough on people, and tough on morale.”
According to Reese, the City of Miami will be using a salary study to apply market adjustments across the organization for wages. Wages, as in most organizations, businesses, and city governments, are the largest expenditure in the City of Miami’s budget. Currently the City has 197 full time positions available with 182 full time filled, 19 part time with 11 filled, and 39 event staff/seasonal employees. The addition of more employees as approved in the next fiscal year will bring the City employee numbers to full time positions of 204 and the new proposed payroll total cost of $14,344,815.
In addition to personnel, other expenses discussed included $743,141 in materials needed, and $1,945,548 in other services and charges expenses, and transfers of $8,520,545, for an overall total projected expense budget of $19,963,990.
Capital Improvement Plans (CIP) requested from the General Fund came in at $2,295,354 of a list of perspective projects that had to be honed and prioritized to fit the budget now at $601,454. Emphasis was placed on life safety issues as first precedence.
The Miami Special Utility Authority Fund is estimated to produce projected revenues of $43,871,96.
Expenditures are currently estimated at $5,116,037 for personnel costs, $18,710,953 for materials, costs of $4,734,774 for other services and charges expenses, capital outlay of $2,591,220, and debt service of $931,008, and transfers of $11,735,410, for an overall total of $43,819,401.
Capital Improvement Plans (CIP) requests from the MSUA Fund came in at $2,900,516 and $2,591,220 is currently being proposed, mostly for needed machinery including various heavy equipment.
Streets projects topped the list of hot topics discussed with initial plans of completing $3.2 million to repair or replace streets and infrastructure in Miami over the next two years. Grant funding is being pursued for projects such as widening Highway 69A from J-M Mushroom Farm to Highway 69, and improvements at the traffic signal at Steve Owens and Highway 69A.
Grant funding is also being pursued for use to raise infrastructure such as bridges at Central and on Rockdale.