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<br />Public Safety Plan - Financial Framework Summary
<br />Public Works Shops
<br />Current Plan
<br />w/19-20 budget
<br />Net Changes
<br />Revised as of
<br />10/8/19
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<br />IL
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<br />IL)
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<br />Revenues
<br />LTGO Bond Proceeds
<br />Transfer Fund 301
<br />Interfund transfer in (out)
<br />Investment Earnings
<br />General Fund Contributions
<br />Utility Fund Contributions
<br />Total Revenues
<br />Project Expenses
<br />Public Works Shops
<br />Addt'I Tenant Improvements
<br />27,674,036
<br />3,000,000
<br />(2,033,709)
<br />243,426
<br />141,854
<br />3,141,854
<br />(2,000,000)
<br />2,033,709
<br />2,200,000
<br />32,167,461 2,233,709
<br />30,000,000
<br />4,400,000
<br />30,000,000 4,400,000
<br />25,674,036
<br />3,000,000
<br />243,426
<br />2,341,854
<br />3,141, 854
<br />34,401,170
<br />30,000,000
<br />4,400,000 (C)
<br />Total Expenses 34,400,000
<br />Increase/(Decrease) 2,167,461 (2,166,291) 1,170
<br />Debt Service
<br />2018 LTGO
<br />2019 LTGO
<br />()
<br />28,720,676 28,720,676
<br />10,734,241 (3,549,008) 7,185,233 (
<br />General Fund Debt Service
<br />Utility Fund Debt Service
<br />19,727,459 (2,874,504) 16,852,955
<br />19,727,459 (674,504) 19,052,955
<br />Reduce PW Shops 2019 LTGO Bond allocation from $7.5M to $5.5M.
<br />Increase PSP 2019 LTGO Bond allocation from $17.5M to $19.5M.
<br />Budget included $2.033M transfer from PW Shops to PSP. Remove budget transfer in/out of $2.033M
<br />from PW Shops to PSP. Settlement Costs not eligible for bond procceds.
<br />(C) Increase PW Shops project budget by $4.4M to complete Phase 1 (estimate).
<br />Debt Service updated to current information; GF/Utility contributions adjusted to maintain 50/50
<br />H split. Cost of debt is less due to lower interest rates, conservative budgetting, and the City's improved
<br />debt rating of AA+.
<br />Combined General Fund contributions to PSP plan decreases by $236k; $2.2M incrase to operating
<br />(C) transfer plus a reduction of $2.436M for debt service.
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<br />Printed: 10/8/2019
<br />Page: 1 of 2
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