City of Miami projects $40M budget surplus
Updated On: Nov 15 2012 03:26:07 PM EST
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.
Copyright 2012 by Post Newsweek. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
$65 million mansion most expensive home on the market in Miami-Dade County
Gov. Rick Scott joined in South Fla. by former NY mayor
John Goodman takes stand, says speech impediment may have been misinterpreted for slurred speech
Jockey Zarella Ore sues Calder Race Course after suffering serious injuries from fall
IRS requests more documents from city of North Miami