• Abstract and Figures
• Public Full-text

CITY OF MIA M I G A R D E N S 2 0 0 8 PO P U L A R A N N U A L F I N A N C I A L RE P ORT CITY COUNCIL Honorable Shirley Gibson, Mayor Barbara Watson, Vice Mayor, Seat 2 Aaron Campbell Jr., Seat 1 André Williams, Seat 3 Melvin L. Bratton, Seat 4 Oliver Gilbert III, At Large Sharon Pritchett, At Large CITY MANAGER Dr. Danny O. Crew CITY ATTORNEY Sonja K. Dickens, Esq. CITY CLERK Ronetta Taylor, MMC EXECUTIVE STAFF Renee C. Farmer, Deputy City Manager Vernita Nelson, Assistant City Manager General Services Daniel Rosemond, Assistant City Manager for Business Services William Alonso, CPA, CGFO, Finance Director INDEPENDENT AUDITORS Harvey, Covington & Thomas, LLC 3816 Hollywood Blvd., Suite 203 Hollywood, Florida 33021 A BOUT THIS FINAN C I A L R EPORT he City of Miami Gardens is proud drawn from information found in of its accomplishments over the the 2008 Comprehensive Annual T past year; this is why we are equal- Financial Report (CAFR). The CAFR ly proud to present our residents was prepared in conformance with and businesses with the City’s Generally Accepted Accounting second Popular Annual Financial Principles (GAAP) and includes Report (PAFR) for the fiscal year financial statements audited by the ended September 30, 2008. City’s independent auditor, Harvey, Covington, and Thomas LLC. This report provides a summary of the City’s major financial and non- Unlike the CAFR, the PAFR is un- financial accomplishments during audited and presented on a non- fiscal year 2008. As stewards of GAAP basis. The GAAP basis pre- your money, we believe that it is sentation in the CAFR includes the important to share this information presentation of individual funds, as with you so that you will have con- well as full disclosure of all material fidence that your elected officials events, financial and non-financial, and City staff are doing their best in notes to the financial state- to make Miami Gardens a great ments. Copies of the CAFR, PAFR, place to live and work. and the Financial Trends Reports are available for public viewing The PAFR is a summary of the at City Hall and online at www. financial activities of the City’s miamigardens-fl.gov. governmental funds, and was 2 0 0 8 P o P ular annual financial re P o r t • CITY OF MIA M I G A R D E N S 1 H I G HLI G HTS FOR FIS C AL YEAR 2008 Fiscal year 2008 was another significant year in the City’s short history. Great strides were made in all areas that will provide immediate and future benefits to our residents. Although accomplishments were numerous, we have attempted to capture below those accomplishments with the most impact on City operations and levels of service to our residents: • Completed Phase II of the US 441 of receipt of emergency calls from • Received the following grant beautification project from Wal- Miami-Dade County, and dis- funds: $6.8 Million for the Neigh- Mart to NW 183rd Street. patch of calls to Miami Gardens borhood Stabilization Program Police Department units. During from the U.S. Department of • Began operation of the City’s Red FY2008, over 70,000 calls for ser- Housing and Urban Development Light Camera Program in order vice were processed. (HUD), $2.375 million in State/ to save lives and reduce injuries County Hurricane assistance, from automobile accidents. • During the last quarter of $414,000 from Homeland Se- FY2008, the Police Department curity, $1.4 Million Block Grant • The City’s new police depart- recruited 26 specialized detec- from HUD, $417,000 from the ment took over from Miami-Dade tives and crime scene personnel State Housing Initiatives Pro- County Police in December 2007. in addition to purchasing equip- gram (SHIP), $820,000 from The In its first full year, the new Police ment relevant to the take-over Children’s Trust Fund, $200,000 Department achieved a 17% of Specialized Services from the in Police grants, $170,000 from decrease in Part I crimes (serious Miami-Dade Police Department. AutoNation for beautification, and crimes) as compared to the same These included homicide and $58,714 in other miscellaneous period during the previous year. sexual assault investigations, beautification grants. crime scene investigations, traf- • The Police Department organized, fic enforcement, K-9, and eco- • Prepared a Fifth Anniversary designed, and implemented a nomic crimes investigations. The Booklet for mailing to all residenc- non-emergency Communications Miami Gardens Police Depart- es and businesses highlighting Call Center for processing of all ment now performs all law en- the City’s accomplishments from non-emergency calls, coordination forcement services for our City. 2003 thru 2008. 2 CITY OF MIA M I G A R D E N S • 2 0 0 8 P o P ular annual financial re P o r t • Began substantial construction of • Completed draft of new mixed use total of 63 home rehabilitation the Miami Gardens Community Planned Corridor Development projects have been completed Center, the City’s premier indoor/ Zoning District, in part funded providing decent, safe and sani- outdoor recreation facility. through a $25,000 Technical As- tary housing for 237 residents sistance Grant from the Florida (24 additional projects are under • The City Clerk’s office initiated a Department of Community Affairs. construction), Provided $60,000 service enhancement by process- in funding to assist 3 families ing passport applications for its • Developed and Adopted a New become First Time Homebuyers, residents as well as residents of Sign Code for businesses. and Provided over $350,000 in surrounding areas. funding for the façade beautifi- • Completed first phase of a Subsi- cation of two (2) existing busi- • School Concurrency Amendment to dized Housing Study that identi- ness with the benefit of creating Comprehensive Development Mas- fies and maps Section 8 voucher seven local jobs. ter Plan declared compliant with and project-based subsidized State Growth Management Laws. housing in City. • Installed three state of the art playgrounds including acces- • Negotiated Joint Participation • Implemented a Citywide zero tol- sible poured in place surfacing at Agreement with Florida Depart- erance program for the enforce- Rolling Oaks, Bunche, and Vista ment of Transportation to install ment for illegal snipe signs: code Verde Parks. decorative intersection/crosswalk enforcement officers removed pavers and irrigation conduit for over 12,000 signs in 2008 and • As a result of the increased adver- landscape islands as part of 2010 prosecuted two (2) major viola- tising, the Shining Stars After-School Resurfacing Project; Implements tors and thereby improved the program has increased by 30%, and State Road 7 Livable Community City’s appearance. the Teen Leadership Academy has Study adopted 2007; total project increased by over 400%. cost $1.1 Million, city’s share will • Code enforcement removed 611 be approx. $675,000. abandoned vehicles from the • Implemented “Buckle Up Miami public rights-of-way over a two Gardens” Child Passenger Safety • Completed Miami Gardens Transit month period as a result of a city- Program. Circulator Feasibility Study through wide towing project. the Miami Dade County Metropoli- tan Planning Organization ($70,000 • Since the Community Develop- study, no cost to City) ment Department’s creation, a 2 0 0 8 P o P ular annual financial re P o r t • CITY OF MIA M I G A R D E N S 3 F INAN C I A L H I G HLI G HTS The financial summaries presented on Tables #1 and 2 are based upon a condensed view of the City’s assets and liabilities for all funds as of September 30, 2008, the end Construction in progress of the City’s fiscal year. Improvements other than buildings Table #1 Infrastructure NET ASSETS Machinery & Equipment As of September 30, 2008 and 2007 Land (net of depreciation) Buildings Governmental Activities $ Increase % Increase 2008 2007 (Decrease) (Decrease) Current Assets $ 34,680,584 $ 32,310,232 $ 2,370,352 7.34% Capital Assets 337,505,497 335,456,585 2,048,912 0.61% Total Assets 372,186,081 367,766,817 4,419,264 1.20% Long Term Liabilities Outstanding 53,057,840 48,821,776 4,236,064 8.68% Other Liabilities 7,058,455 5,204,034 1,854,421 35.63% Total Liabilities 60,116,295 54,025,810 6,090,485 11.27% Net Assets $ 312,069,786 $ 313,741,007 $ (1,671,221) -0.53% Current Assets are highly liquid and include cash, Long term liabilities represent debt obligations of the investments and receivables. City from long term financing. The proceeds of these debt issues are used to finance capital improvements. Capital Assets are the City’s long term investments Long term liabilities increased by approximately $4 mil- in land, buildings, equipment and machinery, infra- lion during FY2008 due to the issuance of a $4.7 million structure, and construction in progress. Capital as- revenue bond for the purchase of vehicles, machinery, sets are shown at their original cost less accumulated and equipment for all departments citywide. depreciation. The City uses these capital assets to provide services to the residents, consequently these Net assets represent assets less liabilities. The larg- assets are not available for future spending. Capital est portion of the City’s net assets reflects its invest- assets (net of depreciation) increased from $335.5 mil- ment in capital assets net of related debt ($288.6 lion in FY2007 to $337.5 million in FY2008. This year’s million). Although the City’s investment in its capital major capital asset additions before depreciation for assets are reported net of related debt, it should be the governmental activities equaled approximately noted that the resources needed to repay this debt $16 million and includes the following: must be provided from other resources, since capital assets themselves cannot be used to liquidate these • $4.1 million for the purchase of new vehicles and liabilities.

Load more

  16

Copy Link