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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 $3,800,000 of administration costs are HUD‑reimbursable.
The budget sets aside money for ongoing acquisitions and conversions of hotels and other properties into supportive housing, and for operating costs. Millett listed current and pipeline properties by name and program type, including Verde Gardens (145 supportive units), Hideaway Bay (hotel‑to‑housing conversion, 107 units), recently acquired units from Lotus House, Wynwood North, Miakasa (128 senior units), Blue Village (permitting underway) and a conveyance property that will provide six rehabilitation units next fiscal year.
Allocations in the adopted budget include: 800 beds in homeless assistance centers (plus an additional 670 beds referenced in the presentation); $2,120,000 for hotel‑motel operations; $1,000,000 for supportive‑services teams attached to project‑based housing; $2,200,000 for housing innovations (modular/tiny homes); a $500,000 flexible housing pool; and $1,300,000 for supportive services. Millett said administrative overhead is about 6% of the budget and that food and beverage tax dollars account for a large share of local funding; roughly 76% of food and beverage spending in the Trust's presentation supports emergency housing.
Board discussion touched on funding flexibility for potential increases to emergency shelter capacity, with Millett saying reserve dollars would be used to expand the emergency shelter line if necessary. After discussion the board moved and seconded a motion to adopt the budget; the motion was approved by voice vote.
The board did not change the numbers presented at the meeting. Staff said additional materials—charts, three years of actuals and multi‑year projections—are attached to the budget packet for further review.
Ending: The Trust's executive director and budget manager will continue to brief the board as grant awards and contract negotiations proceed, and staff indicated any future expansions of bed capacity would be funded from reserves or through subsequent budget amendments if required.
