City of Miami projects $40M budget surplus

City must have at least $93M in reserve

Published On: Nov 15 2012 10:41:54 AM EST   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:

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.