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City of Key West

City of Key West. Key West Bight Fund Fiscal Year 2008-09 1 st Quarter Budget Review. March 10, 2009. City of Key West Key West Bight Fund. Focus on 5 Major Operating Activities : 1) Marina Revenues Projected to Make Budget 2) Parking Revenues 1.79% 1 st Qtr Loss Approx. $10K

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City of Key West

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  1. City of Key West Key West Bight Fund Fiscal Year 2008-09 1st Quarter Budget Review March 10, 2009

  2. City of Key West Key West Bight Fund Focus on 5 Major Operating Activities: 1) Marina Revenues • Projected to Make Budget 2) Parking Revenues • 1.79%1st Qtr Loss Approx. $10K • Projected Annual Loss Approx. $52K 3) Upland Revenues • Projected to Make Budget 4) Fuel Profit (Marina Only) • 50.0% Projected Annual Loss Approx. $300K 5) Ferry Terminal • 4.87% 1st Qtr Loss - Approx. $12K • Projected Annual Loss Approx. $53K FY 2009 1st Qtr Loss / Gain as Compared to Average of Last Two (2) FY 1st Qtrs.

  3. City of Key West Key West Bight Fund Recovery Plan: Projected FY 2009 Operating Loss: $400K Approx. 3.8% Unfavorable Variance to Operating Budget Expenditure Reductions: Reduction of Overtime Salary Savings from Parking Lot Conversion Manned to Equipment – Second Half of FY 2009 Lapsed Salary from Unfilled Positions Reduction in Landscape Service Expense Misc. Expenditure Eliminations / Reductions Project “Outside” Need of 4 – 5 Days Reserve

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