MIAMIDADE EXPRESSWAY AUTHORITY ANNUAL BUDGET WORKSHOP ANNUAL BUDGET

MIAMI-DADE EXPRESSWAY AUTHORITY ANNUAL BUDGET WORKSHOP ANNUAL BUDGET & FUNDING REQUIREMENTS FISCAL YEAR (FY) 2020 JULY 1, 2019 - JUNE 30, 2020

ANNUAL BUDGET SUMMARY FY 2019 Approved Budget Operations FY 2020 Proposed Budget Variance $34, 411, 373 $32, 675, 563 ($1, 735, 810) Maintenance 9, 280, 130 9, 464, 598 184, 467 Administration 5, 707, 107 $49, 398, 611 $47, 847, 268 ($1, 551, 343) 2, 000, 000 - 500, 000 - Operating Expenses Before Park & Ride $51, 898, 611 $50, 347, 268 ($1, 551, 343) Operations - Park & Ride $2, 462, 369 - Total Operating Expenses $54, 360, 980 $52, 809, 637 ($1, 551, 343) Debt Service 101, 475, 533 106, 596, 819 5, 121, 286 Work Program 240, 837, 643 200, 461, 514 (40, 376, 129) 920, 000 $397, 594, 155 $360, 787, 969 Operating Expenses Before Contingency Legal Services - Litigation Contingency Capital (Non-Work Program) Expenditures Total Annual Budget - ($36, 806, 186) 2

BUDGET SUMMARY 3

BUDGET SUMMARY Revenue Toll Revenue - No rate increase Provides for Frequent Driver Rewards of $3. 5 million Expenditures Operating expenses decreased from FY 2019 by $1. 6 million or 2. 9% Work Program of $200. 5 million in FY 2020 Use of previously funded R&R account of $31. 1 million Transfer in from flow of funds of $79. 4 million Use of General Reserves of $90. 0 million No Work Program project will be advertised without confirming availability of funding Debt Service principal and interest for current outstanding debt of $106. 6 million 4

RESERVES Fund Purpose Balance Revenue Fund Trust Indenture Requirement $17, 907, 451 Reserve Sinking Fund Trust Indenture Requirement $64, 507, 971 Payment 07/01/2019 Debt Service Reserve Trust Indenture Requirement $115, 040, 892 Reserve Funds Available for Work Program Projects & Other Incurred Obligations, and under Contracts FY 19 & 20 $121, 084, 704 General Reserve & Work Program FY 21 $40, 306, 398 5

WORK PROGRAM NEEDS & FUNDING 6

PROPOSED MDX WORK PROGRAM FY 2020 -2024 Work Program 5 -Year Total $1. 3 Billion Creates/Maintains over 14, 000 Job Years Design-Build; $1, 078, 830; 82% Right-Of-Way; $76, 755; 6% Construction; $130, 287; 10% Project Development $11, 518 1% Final Design $9, 790 1% 7

FY 2020 -2024 WORK PROGRAM BREAKDOWN PROJECTED COST IN $000’S Project Cost Thru FY 2019 FY 2020 SR 836/I-95 Interchange Improvements $85, 101 SR 836 SW Extension/Kendall Parkway FY 2022 FY 2023 $53, 331 $50, 581 $42, 318 $10, 518 $22, 520 $25, 074 $138, 17 9 $268, 43 4 $277, 29 8 SR 836 Improvements -57 th Ave to 17 th Ave SR 836 Interchange Modifications- 87 th Ave SR 836 New HEFT Ramp Connections $176, 01 7 $19, 438 $195, 456 $90, 988 $13, 942 $104, 930 $1, 083 $12, 648 $20, 140 SR 874 Ramp Connector at SW 128 th St $76, 710 $25, 000 $7, 267 $31, 809 $21, 048 SR 924 Extension West to the HEFT (Only NW 107 th Ave improvements / piers in critical areas) SR 924 Partial Interchange at NW 67 th $1, 776 $7, 902 Ave $24, 054 $1, 000 SR 836 Toll System Conversion $264 $1, 526 Wrong-Way Safety Program th th SR 112 Auxiliary Lanes- 27 Ave /17 $456 $870 Ave SR 924 Operational Improvements at $740 NW 32 nd Ave SR 874/SR 878 Interchange Ramp Improvements SR 878 Operational Improvements to Off $300 $734 -Ramp at Dadeland Station $2, 264 $7, 959 Critical R&R Projects $3, 865 $9, 250 Program Contingencies $54, 673 Projects Completed/Closed in FY 20195 -Year Total $571, 88 $200, 46 $15, 105 FY 2024 Cost Remainin g FY 2021 $241, 800 $187, 42 3 $172, 63 8 $108, 977 $60, 020 $32, 393 $8, 576 $25, 054 $3, 674 $1, 884 $5, 408 $12, 054 $5, 320 $1, 742 $1, 002 $2, 087 $1, 936 $9, 525 $8, 146 $6, 735 $4, 168 $2, 834 $254, 43 $1, 091, 566 $57, 346 $8, 369 $7, 163 $14, 140 Total Project Cost $1, 316, 430 $353, 44 $309, 25 $7, 007 $19, 853 $28, 947 $20, 641 $28, 363 $13, 115 $54, 673 $4, 403 $198, 83 $192, 49 $2, 080, 801 8

STATUS OF PROJECTS FUNDED Project Status SR 836/I-95 Interchange Improvements * Under contract. Construction completion in FY 2023 SR 836 SW Extension/Kendall Parkway * PD&E ongoing. First final design contract award in FY 2020 SR 836 Improvements - 57 th Ave to 17 th Ave Under contract. Construction completion in FY 2020 SR 836 Interchange Modifications at 87 th Ave * Under contract. Construction completion in FY 2020 SR 836 New HEFT Ramp Connections * Design-Build to be advertised in FY 2020 SR 874 Ramp Connector at SW 128 th St * Under contract. Construction completion in FY 2021 SR 924 Extension West to the HEFT * (Only NW 107 th Ave Construction to be advertised in FY 2020 improvements and piers in critical areas) SR 924 Partial Interchange at NW 67 th Ave PD&E ongoing. Design-Build to be advertised in FY 2020 SR 836 Toll System Conversion Under contract. Construction completion in FY 2020 Wrong-Way Safety Program Construction to be advertised in FY 2020 SR 112 Auxiliary Lanes - 27 th Ave to 17 th Ave Design-Build to start in FY 2021 SR 924 Operational Improvements at NW 32 nd Ave Planning to start in FY 2020, construction in FY 2021 SR 874/SR 878 Interchange Ramp Improvements Planning to start in FY 2023, design-build in FY 2024 SR 878 Operational Improvements to Off-Ramp at Dadeland Station Critical R&R Projects Planning to start in FY 2020, design-build in FY 2023 Various stages * Partnership 9

SR 836 DOLPHIN EXPRESSWAY Major Ongoing Construction Projects SR 836 Improvements from 57 th Ave to 17 th Ave Construction complete: FY 2020 SR 836 Interchange Modifications at 87 th Ave Construction complete: FY 2020 SR 836/I-95 Interchange Improvements Construction complete: FY 2023 10

SR 874 DON SHULA EXPRESSWAY Major Ongoing Construction Projects SR 874 Ramp Connector to SW 128 th St Construction complete: FY 2021 11