HomeMy WebLinkAboutCity of South Miami - Public Financial Report
POPULAR ANNUAL
FINANCIAL REPORT
CITY OF SOUTH MIAMI, FLORIDA
FISCAL YEAR ENDING SEPTEMBER 30, 2021
CITY OF SOUTH MIAMI www.southmiamifl.gov
ABOUT THE POPULAR ANNUAL FINANCIAL REPORT (PAFR)
The financial information presented in the Popular Annual Financial Report (PAFR) is
derived from the City’s Annual Comprehensive Financial Report (ACFR) and is presented
here in summarized form. The ACFR outlines the City’s financial position and operating
activities for fiscal year 2021 in great detail and may be obtained via the City’s website at
HTTP://WWW.SOUTHMIAMIFL.GOV/140/ANNUAL-REPORTS. It is prepared in conformance with
accounting principles generally accepted in the United States (GAAP) and it also includes
financial statements audited by Caballero, Fierman, Llerena and Garcia LLP. Information on
governmental funds is presented using the current financial resources measurement focus
and the modified accrual basis of accounting. Governmental activities are those primarily
supported by tax dollars for services such as parks and recreation, public safety, and physical
environment.
Measurement focus refers to what is being measured; basis of accounting refers to when
revenues and expenditures are recognized in the accounts and reported in the financial
statements. Basis of accounting relates to the timing of the measurement made, regardless
of the measurement focus applied. The accounting and financial reporting treatment applied
to a fund is determined by its measurement focus. All governmental funds are accounted
for using a “current financial resources” measurement focus. With this measurement
focus, only current assets and current liabilities generally are included on the balance sheet.
Operating statements of these funds’ present increases (i.e. revenues and other financing
sources) and decreases (i.e., expenditures and other financing uses) in fund balances.
The modified accrual basis is the accrual basis adapted to the governmental fund-type
measurement focus. Under it, revenues are recognized when they become susceptible to
accrual, that is when they become both “measurable” and “available to finance expenditures
of the current period.” “Available” revenues are those that are collectible in the current
period or within sixty (60) days thereafter, which will be used to pay liabilities of the current
period. Expenditures generally are recorded when the fund liability is incurred, except for
debt service expenditures and the expenditures related to compensated absences and
claims and judgments, which are recorded only when payment is due. All governmental
funds with the exception of fiduciary fund types which use full accrual accounting are
accounted for using the modified accrual basis of accounting.
This report is presented in two sections. The first provides an overview of the City and its
government form and structure. The second provides a brief analysis of the City’s various
revenue streams and how they are spent, as well as economic information. It is unaudited
and not presented in the GAAP format. For an audited presentation please refer to the
ACFR on the City website. The PAFR of the City of South Miami is presented to increase
public awareness about the City's financial condition through a more user-friendly
presentation and can be found on the Cit’s website at
HTTPS://WWW.SOUTHMIAMIFL.GOV/141/POPULAR-REPORTS.
CITY OF SOUTH MIAMI www.southmiamifl.gov
“THE CITY OF PLEASANT LIVING”
TABLE OF CONTENTS
LETTER FROM THE CITY MANAGER ........................................................................................ I
CITY OF SOUTH MIAMI HISTORY ............................................................................................ 1
AWARDS AND CERTIFICATIONS ............................................................................................ 2
ORGANIZATIONAL CHART ....................................................................................................... 3
THE GOVERNMENT ....................................................................................................................... 4
PROPERTY TAXES ........................................................................................................................... 5
NET POSITION ................................................................................................................................. 6
GOVERNMENTAL FUNDS – REVENUES ................................................................................. 6
GOVERNMENTAL FUNDS – EXPENDITURES ....................................................................... 8
GENERAL FUND – REVENUES .................................................................................................... 9
GENERAL FUND – EXPENDITURES ........................................................................................ 10
FINANCIAL POSITION STATEMENT ...................................................................................... 11
SUMMARY OF CAPITAL ASSETS .............................................................................................. 13
DEBT STRUCTURE ........................................................................................................................ 14
OTHER INFORMATION .............................................................................................................. 15
DEMOGRAPHIC INFORMATION ............................................................................................ 17
CITY OF SOUTH MIAMI DIRECTORY .................................................................................... 19
CITY OF SOUTH MIAMI www.southmiamifl.gov i
LETTER FROM THE CITY MANAGER
Dear Citizens of South Miami,
We understand and value the importance of being accountable for the proper
management of public funds. As such, I am pleased to present the City’s Popular
Annual Financial Report (PAFR) for the year ended September 30, 2021. This
report, written for the non-financially inclined reader, contains valuable and
summarized information for every resident. By making the financial report easier
to understand and user friendly, the PAFR is another example of our commitment
to improve communications with our citizens and increase public confidence in the
governing body for the City of South Miami.
The vision of the City of South Miami is to be “The City of Pleasant Living” and is committed to its mission
“To create continuous superior service while enhancing a sense of community, a meaningful quality of life, and
a safe environment.” In pursuit of our goals, we faced significant economic challenges due to COVID-19
pandemic–induced market instability and lockdown. In spite of these difficult economic times and being in a
pandemic, the City can be proud of the many accomplishments that were achieved through the combination
of an impassioned City Commission, a professional executive team, dedicated staff, and a caring supportive
citizenry.
The City is spearheading many exciting initiatives on behalf of our residents: economic development,
streamlining processes, building infrastructure, sustainable initiatives, and updating technology to provide more
efficient services in a more effective way. We continue to upgrade to an increasingly sophisticated level of
technology throughout the City to assist in the provision of our services.
During fiscal year 2021, the City installed protected bike lanes, began several new initiatives to improve
communication and keep residents better informed, installed new placemaking signs, planned and designed
the new Police Headquarters and Emergency Operations Center, began services with Freebee shuttle service,
installed new LED lighting at Dante Fascell Park, and completed various roadway improvements, including
resurfacing, sidewalks repairs, and repair of roadways. These are just a few excellent examples of our 2021
endeavors.
The PAFR summarizes the financial activities of the City of South Miami’s government and was drawn from
the more detailed financial information appearing in the 2021 Annual Comprehensive Financial Report (ACFR).
Both reports may be viewed on and downloaded from the City’s website at HTTP://WWW.SOUTHMIAMIFL.GOV.
I would like to give thanks to the finance staff, all City Departments and the City’s Auditors, which helped
provide the necessary information in creating the City’s Popular Annual Financial Report. Please review the
ACFR online, or email Alfredo Riverol, ARIVEROL@SOUTHMIAMIFL.GOV, to request a copy.
On behalf of the City Commission, I thank you for taking the time to read our Popular Annual Financial
Report. This report is one of our opportunities to let you know how the City is doing financially and to
showcase the City’s various programs and projects.
Sincerely,
Shari Kamali, ICMA-CM
City Manager
CITY OF SOUTH MIAMI www.southmiamifl.gov 1
CITY OF SOUTH MIAMI HISTORY
Known as “The City of Pleasant of Living,” this
proud community has a diverse population and a
history of accomplishments stretching back to its
earlier pioneer days. It overcame adversity and
showed a resilience and determination that
make it one of South Florida’s more remarkable
cities.
It began as a settlement named Larkins, after
Wilson A. Larkins, who established a post office
and trading post with that name in 1898 at the
east end of Sunset Drive at Ingraham Highway.
The settlement already had a school building
erected two years earlier by A. H. Ramsey and
John Burtashaw, and in the next few years more
families began moving into the area.
Much of the business in the earlier settlement was geared toward farming supplies and
services, and when Henry Flagler’s railroad grew south from Miami in 1903, it passed to the
west of Larkins. The people of the settlement began relocating the center of their business
district toward the train depot at today’s intersection of US1 and Sunset Drive. Real estate
developers were already beginning to profile for plats of subdivisions in 1914 and by 1917
phone service came to Larkins.
After the fantastic real estate boom of 1925 and with a population of 3000 residents, area
leaders decided to incorporate as the Town of South Miami on March 2, 1926. W. A. Foster
was elected Mayor and a storeroom was rented for $10 a month as Town Hall.
The year 1926 saw the first incoming class of freshmen at the newly chartered University
of Miami campus, which abuts the City of South Miami eastern boundary along Red Road
(SW 57th Avenue). Also founded with a university theme that same year was the Cambridge
Lawns neighborhood of South Miami, situated just 0.7 miles from the university campus.
The neighborhood's Cambridge Lawns Historic District, some 30 homes in the Tudor
Revival and Mediterranean revival style completed in 1928, were granted historic
recognition by the City of South Miami in 2005.
On June 24, 1927, the Town of South Miami officially became the City of South Miami and
a new charter was approved.
In 2001, the City of South Miami was awarded the All-America City Award which is given
by the National Civic League annually to ten cities in the United States. This award is the
oldest community recognition program in the nation and recognizes communities whose
citizens’ work together to identify and tackle community-wide challenges and achieve
uncommon results.
CITY OF SOUTH MIAMI www.southmiamifl.gov 2
AWARDS AND CERTIFICATIONS
The Governmental Finance Officers Association of the United States and
Canada (GFOA) awarded a Certificate of Achievement for
Excellence in Financial Reporting to the City for its Annual
Comprehensive Financial Report for the fiscal year ended September 30,
2020. In order to be awarded a Certificate of Achievement; a
government must publish an easily readable and efficiently organized
Annual Comprehensive Financial Report. This report must satisfy both
generally accepted accounting principles and applicable legal
requirements.
A Certificate of Achievement is valid for a period of one year only. We believe that our current
report continues to conform to the Certificate of Achievement Program requirements, and we
are submitting it to the GFOA to determine its eligibility for another certificate.
GFOA presented a Distinguished Budget Presentation Award to City of
South Miami, Florida for its annual budget for the fiscal year beginning October
1, 2020. In order to receive this award, a governmental unit must publish a
budget document that meets program criteria as a policy document, as an
operations guide, as a financial plan, and as a communications device.
This award is valid for a period of one year only. We believe our current budget
continues to conform to program requirements, and we are submitting it to
GFOA to determine its eligibility for another award.
GFOA has given an Award for Outstanding Achievement in
Popular Annual Financial Reporting to City of South Miami, Florida
for its Popular Annual Financial Report for the fiscal year ended September
30, 2020. The Award for Outstanding Achievement in Popular Annual
financial Reporting is a prestigious national award recognizing
conformance with the highest standards for preparation of state and local
government popular reports.
In order to receive an Award for Outstanding Achievement in Popular
Annual financial reporting, a government unit must publish a Popular
Annual Financial Report, whose contents conform to program standards of creativity,
presentation, understandability, and reader appeal.
An Award for Outstanding Achievement in Popular Annual Reporting is valid for a period of
one year only. We believe our current report continues to conform to the Popular Annual
financial Reporting requirements, and we are submitting it to GFOA to determine its eligibility
for another Award.
CITY OF SOUTH MIAMI www.southmiamifl.gov 3
ORGANIZATIONAL CHART
City of South Miami
Residents
Mayor & Commission
City
Clerk
City
Manager
Finance Department
Procurement Division
Information
Technology Division
Parking Division
Building Department Public Works
Department
Office of the Director
Streets & Landscaping
Maintenance Division
Motor Pool Division
Building Maintenance
Division
Solid Waste Division
Engineering &
Construction
Parks & Recreation
Department
Community Center
Landscape (Parks)
Maintenance Division
Community Pool
Tennis
Planning & Zoning Police Department
Personnel Division Code Enforcement
Division
City
Attorney
CITY OF SOUTH MIAMI www.southmiamifl.gov 4
THE GOVERNMENT
South Miami uses a City Manager form of
government. The Commission sets the
policies and the City Manager acts as the Chief
Executive Officer. Commissioners are
elected to four-year terms and the Mayor is
elected to a two-year term. Elections are held
on the second Tuesday in November in even
numbered years for the Mayor and half of the
Commissioners. The Commissioner receiving
the most votes for that respective election is
provided the title of Vice Mayor for the first
two years of the term. The next city election
is on November 8, 2022.
South Miami is a city in Miami-Dade County, Florida, United States. The population was
12,026 at the 2020 census and as of 2021, according to the University of Florida Bureau of
Economic & Business Research is 12,071. South Miami is served by the Miami Metrorail at
the South Miami Station. The station is in the section US-1 and Sunset Dr., and services
the surrounding South Miami neighborhood, including South Miami Hospital and the South
Miami city government offices.
Mayor
Sally B. Philips, EdD
Commissioner
Luis Gil
Commissioner
Josh Liebman
Commissioner
Brian Corey
Commissioner
Walter Harris
CITY OF SOUTH MIAMI www.southmiamifl.gov 5
PROPERTY TAXES
The Miami-Dade County Property Appraiser’s Office provided that the average taxable
value for residential properties within the City of South Miami is $305,651. Based on that
taxable residential average, a property owner with the average residential average home
paid $109.52 each month for General Fund City services. The below monthly breakdown
illustrates how this amount is divided among various City Departments.
DEPARTMENT
MONTHLY
BREAKDOWN
City Commission $0.78
City Manager $11.63
City Clerk $2.53
Legal $2.06
Finance $9.26
Building & Planning $7.78
Police $42.51
Public Works $19.43
Parks & Recreation $13.54
Non-Departmental $0.00
$109.52
Beginning in fiscal year 2010 through fiscal year 2013, the City’s property tax revenue
decreased due to property tax relief implemented by the State of Florida and an overall
decline in the real estate market. However, for fiscal year 2021, the property tax revenue
of $9,066,449 represented a 2% increase over the fiscal year 2020 property tax revenue.
4.1000
4.2000
4.3000
4.4000
4.5000
4.6000
4.7000
0
1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
Mi
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Ta
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e
Fiscal Year
City Property Tax Revenue in Recent Years
(Amounts Expressed in Thousands)
Revenue Millage
CITY OF SOUTH MIAMI www.southmiamifl.gov 6
NET POSITION
Net position represents the difference in total assets and total liabilities. Increases and
decreases in net position over time may serve as a useful indicator of whether the City’s
financial position is improving or deteriorating. Net positions are comprised of three
categories: net investment in capital assets, restricted net position, and unrestricted net
position.
Net investment in capital assets is the value of capital assets, less any outstanding debt
attributed to the acquisition, construction, or improvement of capital assets. As of
September 30, 2021, the City’s net investment in capital amounted to $31,412,504.
Restricted net position is that portion of net assets that have constraints that are
externally imposed by creditors, grantors, contributors, law/regulation of other
governments or imposed by law through constitutional provisions/enabling legislation. As
of September 30, 2021, the City’s restricted net position amounted to $4,556,303.
Unrestricted net position is the remaining net assets that is neither restricted nor
invested in capital assets - net of related debt. Unrestricted net position represents that
portion of net assets that is available for spending in the future. As of September 30, 2021,
the City’s unrestricted net position amounted to $19,201,671.
Total net position amounted to $55,170,478, an increase of $4,042,592 from the previous
year. The majority of the increase in governmental activities net position is due to the
increase in government wide revenues in excess of government wide operating expenses,
due to savings resulting from management efficiencies resulting in less spending.
Net investment in capital assets
57%
Restricted
8%
Unrestricted
35%
CITY OF SOUTH MIAMI www.southmiamifl.gov 7
GOVERNMENTAL FUNDS – REVENUES
The City maintained 13 individual governmental funds during 2021 totaling $24,369,960.
The governmental funds reflect the City’s basic services, including public safety,
transportation, general government administration, physical environment, and culture and
recreation. The majority of services are financed through shared state sales tax, local utility
tax, property tax and direct charges for services. The largest revenue source for the City
is taxes (45.8%) totaling $11,149,988. The second largest revenue source is
intergovernmental (20.3%) totaling $4,952,437.
Taxes The taxes category includes property tax collected from
property owners based upon the assessed valuation of the
property and the tax rate; utility tax, taxes on the purchase of
utility services including electric, water, gas, and
telecommunications; and local business tax receipts.
Franchise Fees Fees charged to providers for the privilege of having the
franchise. Franchise fees are billed for electric, solid waste, gas,
and towing.
Licenses and Permits Revenues received for occupational building and planning
permits.
Intergovernmental The combined resources received from other governments in
the form of grants, entitlements, state shared revenue, sales tax
and gas tax.
Charges for Services The combined resources of various departments for fees paid
by the public, such as recreation fees and parking fees.
Interest Income Interest earned on investments. The City invests in certificates
of deposits, treasuries and federal agencies as allowed by state
statutes and City policy.
Other Revenues received that do not fall into the above designated
categories, such as insurance proceeds and sale of surplus
property.
45.8%
4.5%4.6%
20.3%
13.4%
5.3%1.3%0.9%3.9%
Taxes
Franchise FeesLicenses and PermitsIntergovernmentalCharges for Services
Fines & Forfeitures
Interest Income
Rents & Royalties
Other
CITY OF SOUTH MIAMI www.southmiamifl.gov 8
GOVERNMENTAL FUNDS – EXPENDITURES
Shown in the graph below are the City of South Miami’s expenditures during 2021 totaling
$22,385,640. Public Safety accounted for the largest part of the expenditures at $7,822,103
or 34.9% of the total expenditures. General Government accounted for $4,367,004, or
19.5% of the total expenditures.
General Government Expenditures that are incurred for administrative services
including the City Commission, City Manager, City Attorney,
Finance, Information Technology,
Human Resources, and City Clerk.
Public Safety Expenditures associated with
providing public safety services
including police, building
inspections, and code enforcement.
Public Works Expenditures reflect the costs
incurred for planning functions and
the costs associated with maintaining public infrastructure
such as City roads, medians, parks and City facilities.
Culture and Recreation Expenditures reflect the expenses associated with services
that enhance the culture of the community, such as
recreation, sports, fitness, and special events.
Debt Service Expenditures to pay the principal
and interest payments related to
the City’s long-term debt.
Capital Outlay Expenditures associated with
acquiring, maintaining, repairing or
upgrading capital assets such as,
machinery, facilities and land.
19.5%
34.9%17.7%
9.4%
14.0%4.5%General Government
Public Safety
Public Works
Culture and Recreation
Capital Outlay
Debt Service
CITY OF SOUTH MIAMI www.southmiamifl.gov 9
GENERAL FUND – REVENUES
GENERAL FUND: The General Fund is the general operating fund of the City of South
Miami. It is used to account for all financial resources except those required to be
accounted for in another fund. These activities are funded principally by property taxes
from individuals and businesses, and charges for services.
Revenues 2019 2020 2021
Ad Valorem $ 7,109,103 $ 7,439,135 $ 8,391,916
Utility Tax 2,170,006 2,088,871 2,109,859
Business Tax 656,815 676,521 647,786
Franchise Fees 1,112,140 1,073,313 1,092,988
License & Permits 691,726 1,236,396 917,143
Intergovernmental 1,829,057 5,148,836 2,838,601
Charges for Services 3,432,605 2,647,049 3,279,362
Fines & Forfeitures 1,169,094 1,083,626 1,278,808
Interest Income 273,197 237,786 262,653
Rents and Royalties 278,229 230,040 210,045
Other 472,515 461,121 178,285
$19,194,487 $22,322,694 $21,207,446
The above graph illustrates revenue for the General Fund during FY 2019, 2020 and 2021.
Property taxes accounted for the majority of the revenue in the General Fund followed by
Charges for Services. In 2020 the reason for the significant increase in Intergovernmental is
due to the CARES Act funding provided by the Federal Government.
From 2020 to 2021, property tax revenues have increased by 12.8%. This increase in
property tax revenue is attributed to increasing assessed values of existing properties by
the Miami-Dade County Property Appraiser’s Office.
Ad Valorem
Utility Tax
Business Tax
Franchise Fees
License & Permits
Intergovernmental
Charges for Services
Fines & Forfeitures
Interest Income
Rents and Royalties
Other
2021
2020
2019
CITY OF SOUTH MIAMI www.southmiamifl.gov 10
GENERAL FUND – EXPENDITURES
The General Fund accounts for the normal recurring activities of the City (including general
government, public safety, public works, and parks and recreation). The General Fund is
used to fund police services, parks maintenance, among other essential functions of the City
of South Miami.
Expenses 2019 2020 2021
General Government $ 3,960,548 $ 4,185,441 $ 4,367,004
Public Safety 7,663,188 9,608,701 7,715,322
Public Works 2,925,930 2,963,525 3,170,736
Parks and Recreation 2,256,473 1,996,021 2,105,303
Debt Service 0 0 0
Capital Outlay 310,000 0 0
$ 17,116,139 $ 18,753,688 $ 17,358,365
Compared to the previous year, FY 2021 expenditures decreased approximately 7.4% to
$17,358,365. In 2021, Public Safety saw a decrease of 19.7% when compared with 2020,
despite increases in salaries for officers based on their union agreement. This is mainly due
to the one-time amount paid for COLA on pension benefits that occurred in 2020.
The graph below illustrates expenditures for the General Fund during 2019, 2020 and 2021.
Public Safety accounted for approximately 44.5% of expenditures in the General Fund and
General Government making up 25.1% of General Fund Expenditures.
General Government
Public Safety
Public Works
Parks and Recreation
Debt Service
Capital Outlay 2021
2020
2019
CITY OF SOUTH MIAMI www.southmiamifl.gov 11
FINANCIAL POSITION STATEMENT
Summary
The Financial Position, known as the Balance Sheet, in accounting terms, provides a picture
of the City of South Miami’s financial position as of September 30, 2021. The city has a very
healthy or positive financial position.
Cash is the amount of physical cash held
in City of South Miami bank accounts for
the purpose of paying expenses.
Investments are made up of securities
such as certificates of deposits and U.S.
Treasuries purchased to earn interest on
excess/reserved cash.
Receivables represent the amounts
which are owed to the City of South
Miami and are expected to be paid to the
City over the course of the next twelve
months.
93%
5%2%0%
Cash and Cash
Equivalents
Receivables
Due From Other Funds
Prepaid Expenses
TOTAL GOVERNMENTAL FUNDS
ASSETS:
Cash and Cash Equivalents $ 23,117,267
Receivables 1,202,202
Due from Other Funds 440,890
Prepaid Expenses 0
Total Financial Assets $ 24,760,359
LIABILITIES:
Amounts Due to Employees & Vendors $ 1,052,924
Due to Other Funds 440,890
Deferred Revenue 601,545
Other Financial Obligations 265,327
Total Financial Liabilities $ 2,360,686
TOTAL GOV. FUNDS: BALANCES $22,399,673
CITY OF SOUTH MIAMI www.southmiamifl.gov 12
Due from Other Governments
represent the amounts that are owed to
the City of South Miami from other
government agencies and are expected to
be paid to the City over the course of the
next twelve months.
Prepaid Expenses represent expenses
prepaid by the City.
Amounts due to employees and
vendors are those items that the City of
South Miami owes to individuals and
companies who supply services or goods
and the expected payments are to be
made within twelve months.
Deferred Revenue represents the Local
Business Tax License revenues, which are
collected in the existing fiscal year and
reflected as revenue in the following fiscal
year.
Other Financial Liabilities represents
the amount that the City of South Miami
borrowed to undertake capital projects.
This amount is estimated to be paid within
one year.
Fund Balance represents the difference
between the assets and liabilities of a in a
governmental fund.
CITY OF SOUTH MIAMI www.southmiamifl.gov 13
SUMMARY OF CAPITAL ASSETS
Capital Assets are defined as land, buildings, improvements, equipment, and infrastructure
owned by the City of South Miami and purchased by each department as needed. This
summary presents the assets net of depreciation and is the total dollar amount held by the
City of South Miami as of September 30, 2021.
CAPITAL ASSET 2020 2021
Land $ 13,649,468 $ 13,649,168
Building & Improvements 15,445,917 15,134,952
Machinery & Equipment 2,265,709 2,308,475
Land Improvements 1,399,248 1,619,463
Infrastructure 6,256,877 6,398,095
Construction in Progress 0 671,351
Intangible Assets 0 0
$39,017,219 $39,781,504
Land
The amount listed is the total amount of
land purchased and owned by the City of
South Miami for government use.
Building & Improvements
The amount listed is the value of
permanent structures such as City Hall,
Public Works building, Recreation
Complex, Community Center etc.
Land Improvements
The value of improvements made to City
land and buildings.
Machinery & Equipment
Includes the value of all machinery,
vehicles, office furniture, computers, etc.
with a normal expected life of one year or
more.
Infrastructure
Includes things like the value of all roads,
medians, drainage systems, water and
sewer systems, lighting systems, and other
permanent improvements that add value
to the land.
Land
34%
Building &
Improvements
38%
Machinery &
Equipment
6%
Land Improvements
4%
Infrastructure
16%
Construction in Progress
2%
CITY OF SOUTH MIAMI www.southmiamifl.gov 14
DEBT STRUCTURE
The City of South Miami in September 2020 issued a $4,988,000 Capital Improvement
Revenue Refunding Note, Series 2020, with Chase to refund $1,145,000 and $ 3,714,000 of
the then remaining balance of Florida Municipal Loan Council Bonds, Series 2006 and
Refunding Revenue Note, Series 2015, respectively. The Refinancing was completed with
the intention of reducing the overall interest paid over the course of loans, saving the City
over $500,000 and reducing the number of years of all debt.
The table and graph below illustrate the City’s long-term obligations as of September 30,
2020 and September 30, 2021.
The table below represents the City’s annual financial obligations for our outstanding
revenue loans/notes payable and loans/notes payable.
Total Debt Service Requirements
The following is a summary of changes in long-term liabilities of the City for governmental
activities for the year ended September 30, 2021:
Governmental Activities
Beginning
Balance Additions Reductions
Ending
Balance
Due
within
One Year
Taxable Revenue Note, Series 2011 $ 4,165,000 $ 0 $ 520,000 $ 3,645,000 $ 540,000
Capital Improvement Revenue
Refunding Note, Series 2020 4,988,000 0 264,000 4,724,000 292,000
Notes payable 0 0 0 0 0
Compensated Absences 1,473,821 769,625 744,362 1,499,084 374,771
$10,626,821 $ 769,625 $1,528,362 $9,868,084 $1,206,771
4,724,000
3,645,000
Capital ImprovementRevenue Note 2020
Taxable Revenue Note2011
2021
2020
Long Term debt/bond Obligations 2020 2021
Taxable Revenue Note 2011 $ 4,165,000 $ 3,645,000
Capital Improvement Revenue Refunding Note 2020 4,988,000 4,724,000
$ 9,153,000 $ 8,369,000
CITY OF SOUTH MIAMI www.southmiamifl.gov 15
OTHER INFORMATION
TOP 10 PRINCIPAL PROPERTY TAXPAYERS
(amounts expressed in thousands)
2021
Taxpayer
Assessed
Valuation Rank
% Total
Valuation
SCG Atlas Red Road Commons LLC $ 77,000 1 3.65%
FRIT Shops At Sunset Place 65,205 2 3.09%
US RV VI Sunset Drive LLC 30,750 3 1.46%
Florida Power & Light Company 23,847 4 1.13%
Larkin Community Hospital Inc 22,102 5 1.05%
HR Acquisition I Corportation 22,013 6 1.04%
S Miami Hospital Dev Fund Inc 20,467 7 0.97%
South Miami Corp 19,786 8 0.94%
MHS Real Estate Capital LLC 16,492 9 0.78%
Kimco South Miami 634 Inc 15,590 10 0.74%
$ 313,251 14.86%
PROPERTY TAX RATES
FY City County School Other TOTAL
2012 4.6662 8.2322 8.0050 0.4708 21.3742
2013 4.3639 8.1237 7.9980 0.4634 20.9490
2014 4.3639 8.3330 7.9740 0.4187 21.0896
2015 4.3000 8.3302 7.6120 0.3871 20.6293
2016 4.3000 8.2791 7.3220 0.3627 20.2638
2017 4.3000 8.2464 6.9940 0.3420 19.8824
2018 4.3000 8.2775 6.7330 0.3256 19.6361
2019 4.3000 8.3176 7.1480 0.3115 20.0771
2020 4.3000 8.3003 7.1290 0.2995 20.0288
2021 4.3000 8.3791 7.0090 0.2892 19.9773
PROPERTY ASSESSED VALUE
(amounts expressed in thousands)
FiscalYear
Real
Property
Personal
Property
Total
Assessed
Value
2012 1,362,014 64,823 1,426,837
2013 1,372,600 60,743 1,433,343
2014 1,411,443 69,158 1,480,601
2015 1,500,767 69,981 1,570,748
2016 1,624,996 67,414 1,692,410
2017 1,727,379 65,832 1,793,211
2018 1,843,033 75,134 1,918,167
2019 1,917,804 69,268 1,987,072
2020 1,999,537 73,599 2,073,136
2021 2,037,154 71,322 2,108,476
CITY OF SOUTH MIAMI www.southmiamifl.gov 16
OTHER INFORMATION (CONT)
TOP TEN INDUSTRIES
1
PROFESSIONAL, SCIENTIFIC, AND
TECHNICAL SERVICES
2 HEALTH CARE AND SOCIAL ASSISTANCE
3 EDUCATIONAL SERVICES
4 REAL ESTATE AND RENTAL AND LEASING
5 RETAIL TRADE
6 FINANCE AND INSURANCE
7 TRANSPORTATION AND WAREHOUSING
8 CONSTRUCTION
9 ACCOMODATION AND FOOD SERVICES
10 PUBLIC ADMINISTRATION
For fiscal year 2021, the total property tax rate for each property owner in the City was
19.9773. The majority of the property tax paid went to Miami-Dade County 41.9% with
the second most going to the School Board 35.1%. As illustrated below, the City’s tax rate
represents 21.5% of the total property tax bill. This demonstrates that for every dollar of
property tax spent only twenty-one cents goes to the City of South Miami.
City, 21.5%
County, 41.9%
School, 35.1%
Other, 1.5%
CITY OF SOUTH MIAMI www.southmiamifl.gov 17
DEMOGRAPHIC INFORMATION
Quick Facts 2020 Census
Population: 12,026
Pop. Change: 3.17%
State: Florida
Metro Area:
Miami-Fort Lauderdale-
Miami Beach Metro Area
County: Miami-Dade County
City: South Miami
*As per Bureau of Economic & Business Research at UF, the City Population for FY 2021 is 12,071.
This is the number which will be used for State Revenue Sharing calculations.
Information provided above was obtained at https://www.census.gov/quickfacts/southmiamicityflorida
Category 2020 Census % of Total 2010 Census % of Total % Change from
2010-2020
Total Population 12,026 100.00% 11,657 100.00%3.17%
Male 5,809 48.30% 5,721 49.08%1.53%
Female 6,217 51.70% 5,936 50.92%4.74%
Median Age 37.00 36.7
Total Housing Units 5,297 100.00%5,174 100.00%2.38%
Total: Occupied Housing Units 4,879 92.11%4,699 90.82%3.83%
Total: Vacant Housing Units 418 7.89%475 9.18%-12.00%
Population in occupied housing units: Owner-occupied 7,468 7,052 5.90%
Population in occupied housing units: Renter-occupied 4,341 4,507 -3.68%
Total Households 4,329 4,127 4.89%
Average Household Size 2.73 2.46 10.98%
Average Family Size 3.52 3.16 11.39%
Median Household Income 66,769$ 57,180$ 16.77%
Mean Household Income 131,312$ 77,761$ 68.87%
CITY OF SOUTH MIAMI www.southmiamifl.gov 18
DEMOGRAPHIC INFORMATION (CONT)
DEMOGRAPHIC AND ECONOMIC STATISTICS
LAST TEN FISCAL YEARS
Personal
Income
(Amounts Per Capita
Expressed
in Personal Median School Unemployment
Fiscal Population Thousands) Income Age Enrollment Rate
Year (1) (2) (2) (2) (3) (4) 2012 13,576 $ 96,658.00 $ 37,834.00 36.7 2,854 8.8
2013 13,778 $ 100,689.00 $ 38,860.00 36.7 2,820 6.7
2014 13,623 $ 104,373.00 $ 39,880.00 37.1 2,799 6.5
2015 13,656 $ 111,528.00 $ 41,883.00 37.7 2,774 6.3
2016 12,912 $ 116,553.00 $ 43,278.00 38.3 2,786 5.4
2017 12,645 $ 123,276.00 $ 45,440.00 39.0 2,787 4.6
2018 12,664 $ 126,716.00 $ 46,048.00 38.9 2,657 4.6
2019 12,965 $ 138,139.00 $ 50,022.00 38.9 2,550 4.1
2020 12,900 $ 149,166.00 $ 54,902.00 36.9 2,524 8.5
2021 12,026 $ 154,892.00 $ 57,213.00 36.9 2,394 3.8
Source:
(1) Bureau of Economic and Business Research - University of Florida
(2) U.S. Department of Commerce, Bureau of Economic Analysis and
Bestplaces.net/city/South_Miami.
(3) Miami-Dade County Public Schools Registrar's Office (private schools excluded).
(4) Miami Dade County Labor Market Report
FULL-TIME EQUIVALENT CITY GOVERNMENT EMPLOYEES BY FUNCTION
LAST TEN FISCAL YEARS
2012 2013 2014 2015 2016 2017 2018 2019 2020 2021
FUNCTION:
General government 18 21 21 21 31 31 27 28 25 21
Public safety:
Police:
Officers 51 48 50 52 54 52 52 52 52 49
Civilians 9 8 9 9 7 7 8 7 7 5
Building and zoning 14 12 4 4 4 4 4 4 4 6
Public works 25 24 17 17 19 20 17 16 14 13
Recreation and
social and services 10 10 10 10 18 13 14 14 13 13
Sanitation 9 9 11 11 10 10 10 9 8 8
Total 136 132 122 124 143 137 132 130 123 115
CITY OF SOUTH MIAMI www.southmiamifl.gov 19
CITY OF SOUTH MIAMI DIRECTORY
Contact Us
CITY OF SOUTH MIAMI CITY HALL 6130 Sunset Drive
South Miami, FL 33143
General Information/Receptionist:
Tel: (305) 663-6338 Fax: (305) 663-6345
CITY MAYOR & COMMISSION
City Hall, 1st Floor Tel: (305) 663-6340
Fax: (305) 663-6348
OFFICE OF THE CITY MANAGER
Shari Kamali, City Manager City Hall, 1st Floor
Tel: (305) 668-2510
Fax: (305) 663-6345
SKAMALI@SOUTHMIAMIFL.GOV
OFFICE OF THE CITY ATTORNEY
Thomas F. Pepe, Esq.
Tel: 305-667-2564 TPEPE@SOUTHMIAMIFL.GOV
OFFICE OF THE CITY CLERK
Nkenga Payne, City Clerk
City Hall, 1st Floor
Tel: (305) 663-6340
Fax: (305) 663-6348
NPAYNE@SOUTHMIAMIFL.GOV
BUILDING DEPARTMENT Sylva Martin Building (North of City Hall)
Tel: (305) 663-6355
Fax: (305) 666-4591
BUILDING@SOUTHMIAMIFL.GOV
CODE ENFORCEMENT
Sylva Martin Building (North of City Hall)
Tel: (305) 668-7335 Fax: (305) 666-4591
CODE@SOUTHMIAMIFL.GOV
DEPARTMENT OF FINANCE
City Hall, 1st Floor Tel: (305) 663-6343
Fax: (305) 663-6346
FINANCE@SOUTHMIAMIFL.GOV
PROCUREMENT DIVISION
City Hall, 1st Floor
Tel: (305)663-6339
Fax: (305) 663-6346 PROCUREMENT@SOUTHMIAMIFL.GOV
PERSONNEL DIVISION
City Hall, 2nd Floor
Tel: (305) 668-2516
Fax: (305) 668-3877
HR@SOUTHMIAMIFL.GOV
PARKS & RECREATION DEPARTMENT 5800 S.W. 66th Street
Tel: (305) 668-3876
Fax: (305) 668-7388
PARKS@SOUTHMIAMIFL.GOV
PLANNING & ZONING DEPARTMENT
Sylva Martin Building (north of City Hall)
Tel: (305) 663-6331 Fax: (305) 666-4591
PLANNINGZONING@SOUTHMIAMIFL.GOV
POLICE DEPARTMENT
6130 Sunset Drive South Miami, FL 33143
Tel: (305) 663-6301 (Central Dispatch)
Fax: (305) 663-6353
ADMINSTAFF@SOUTHMIAMIPDFL.GOV Emergency Call 911
PUBLIC WORKS & ENGINEERING
4795 S.W. 75th Avenue Miami, FL 33155
Tel: (305) 403-2067
Fax: (305) 668-7208
PUBLICWORKSDEPT@SOUTHMIAMIFL.GOV
INTERESTED IN MORE FINANCIAL INFORMATION?
The information in this report is drawn from the City of South Miami Annual Comprehensive
Financial Report (ACFR) for the fiscal year ended September 30, 2021 which may be accessed at
WWW.SOUTHMIAMIFL.GOV. This report’s financial data is consistent with Generally Accepted
Accounting Principles (GAAP).
The City’s financial statements are designed to provide South Miami citizens, taxpayers, customers,
investors, and creditors with a general overview of City finances and to demonstrate the City’s
accountability of the resources it receives and expends.
City Commission meetings are held the first and third Tuesday of every month.
South Miami Sustainability
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