City of Miami projects $40M budget surplus

Published On: Nov 15 2012 10:41:54 AM EST
Updated On: Nov 15 2012 03:26:07 PM EST
The City Of Miami Seal
MIAMI -

The City of Miami is projecting a $40 million surplus in its budget.

According to Budget Manager Danny Alfonso, the surplus breakdown is below:

  • $16 million in reserves
  • $12 million in unanticipated revenue, including $4 million reimbursed from FEMA
  • $4 million from the Miami Police Department
  • $8 million previously projected

Alfonso said the city is required to have at least $93 million in reserve and cannot use the surplus until the city commission decides it's needed.

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