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Miami-Dade Homeless Trust adopts $40.2 million operating budget to fund shelters, acquisitions and supportive services
Summary
The Miami‑Dade Homeless Trust approved its Fiscal Year operating budget that maintains reserves, budgets for property acquisitions and capital work, and funds emergency shelter and supportive housing programs, while staff warned of federal funding changes that could affect future revenues.
The Miami‑Dade Homeless Trust adopted an operating budget that Trust staff said projects $40,200,000 in revenues and funds the agency's shelter and supportive‑housing portfolio.
Trust Executive Director Vicky Millett told the board the proposed budget “represents 95% of expected revenues as mandated by the state.” She said the budget includes $16,000,000 in capital expenses, capital reserves of $22,900,000 at the beginning of the year (projected to conclude the year at $9,460,000), and tax equalization reserves of $20,300,000 at the start of the year and $15,200,000 at the conclusion. Millett also said administration is budgeted at $7,500,000 and that about…
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