HomeMy WebLinkAboutFIN 2018-06-05 Item 2 - Public Safety Plan - FinancingCity of Tukwila
Allan Ekberg, Mayor
INFORMATIONAL MEMORANDUM
TO: Finance Committee
FROM: Rachel Bianchi
CC: Mayor Ekberg
DATE: May 31, 2018
SUBJECT: Financing the Public Safety Plan (Updated from February 6 Meeting)
NOTE: Because this topic is building on previous Committee meetings, the original
memo has been updated in underline font below. This intent is to continue to preserve
the information from one meeting to the next given that each discussion will build upon
the previous.
ISSUE
Due to market conditions and cost escalation, the City has a significant gap in the Public Safety
Plan budget. The Finance Committee has been tasked with reviewing options and identifying
potential recommendations for the full Council to consider later this spring. The Justice Center
will also finish Schematic Design this spring and will provide for better understanding of the
costs associated with that project. Merging these timelines will provide the necessary
information for the City Council to provide direction on the next steps on the Public Safety Plan.
BACKGROUND
Process:
Due to the gravity and complexity of this issue, staff worked with the Committee Chair to identify
the following schedule for covering the various information associated with tackling the funding
gap:
February 6, 2018 Finance Committee:
• Project costs as known
• Overview of voter -approved bonds
• Debt capacity and term
• Fire Impact Fees
• Land sales and other one-time funds
• REET 1
February 20, 2018 Finance Committee:
• New revenue options
March 6, 2018 Finance Committee:
• General fund and operations
• CIP prioritization
March 20, 2018 Finance Committee:
• Review project schedule
Staff proposes that the Committee review the information presented and provide direction to
staff at each meeting as to which options are of interest to the council. Staff will then use the
intervening time to build an iterative financial model that can be reviewed and added to at
subsequent meetings. For instance, if the Committee is interested in dedicating land sales to
filling the gap, this would be a tool we would build into the model and bring back to show you the
implications as to how that tool — along with others agreed to by the committee — would work
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INFORMATIONAL MEMO
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together to fill the gap. By the end of this process, the goal is to have a collaboratively built
model to inform the full Council and any final decisions.
Staff has provided its recommendations after each tool to inform the Council of its position.
Project costs as known:
Before we discuss tools for filling the gap, it is important that everyone has the same
understanding of the current known project costs.
Below are the current budget estimates for the Public Safety Plan projects. Fire Station 51 has
completed the schematic design phase, allowing for more certainty on the estimates associated
with the fire stations. However, the estimate for the Justice Center is carrying many significant
costs, such as budget allotted for site preparation and the Public Works facility estimate is the
most extreme, assuming none of the buildings on the current site could be reused. The Justice
Center will be done with Schematic Design in May and at that point there will be more certainty
on the budget estimate. The Public Works facility will not hit that stage until toward the end of
this year.
Public Safety Plan Project Cost Estimates as of January, 2018 (in millions)
Project
Initial Budget
Updated
Gap
Fire Station 51
$11,446
$12,509
$1,063
Fire Station 52
$5,657
$17,652
$11,9951
Fire Station 54
$7,329
$14,753
$7,424
Justice Center
$28,629
$68,536
$39,907
Public Works Facility
$29,493
$63,270
$33,777
Total Gap for Projects
$94,166
Utility Fund Gap Obligation for PW
($16,888)
Total Unfunded Gap
$77,278
The cash flow spreadsheet for the projects, on the current schedule, is attached.
Voter -Approved Bonds:
The voters approved a $77.4 million bond measure in November 2016. In December 2016,
$36.7 million, of these bonds were issued. Based on the cash flow analysis provided by SOJ in
December 2017, the remainder of the bond authorization, or $40.6 million, will be needed in
2018 and 2019 to fund property purchases and construction costs. The recommendation is to
issue the bonds in the fall of 2018 so the debt service can be included with the 2019 property
tax assessments.
Debt Capacity and LTGO Bonding:
In order to address the Public Safety Plan funding gap, it is likely that the City would need to
issue additional bonds, this time councilmanic ones.
State law limits the amount of debt the City can carry. For councilmanic/limited tax general
obligation (LTGO) debt, the City is limited to 1.5% of taxable assessed valuation. Total debt
(including voted and non -voted debt) is limited to 2.5% of assessed valuation. As of December
31, 2017, the City had capacity for an additional $59 million in councilmanic debt. This number
will increase as assessed valuation goes up and existing debt is paid off, providing the City
additional capacity in the out years.
The headquarters station was moved from Fire Station 51 to Fire Station 52 during the siting phase, technically
flipping the budgets for Stations 51 and 52, hence the relatively small gap for 51 and huge one for 52.
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Bonds are normally issued for a 20 -year term. However, debt payments can be spread over the
useful life of the underlying asset. In the case of structures such as the Justice Center and the
Fire Stations, the debt payback period could be increased to 30 years since the life of the
structures will be 30 or more years. A longer payback period translates into lower annual debt
service payments, albeit over a longer period of time.
Staff recommendation: Use LTGO bonds to cover the Public Safety Plan gap in a manner that
allows for some cushion in the event of an economic downturn; leverage the fact that some
existing debt drops off in 2020 and 2024 freeing up additional capacity to pay back the bonds.
Fire Impact Fees:
Fire impact fees are charged on residential and commercial development to pay for the impact
of growth on fire facilities. Fire impact fees, on average, have yielded $120K over the past 9
years, excluding the $500K fire impact fee deposit received in 2017 through the Tukwila South
Development Agreement. The City has not increased its fire impacts fees in more than a
decade, and there is additional capacity in these fees to support the new fire stations. The
update of the fire and park impact fees is scheduled to be presented to the Finance Committee
in March, 2018. Should the Council adopt the new impact fees, staff estimates that they would
generate between $200,000 and $400,000 per year that could be used to pay off LTGO bonds.
An additional $1.5 million in fire impact fees exist today that will be dedicated to the fire station
projects.
Staff recommendation: Dedicate current and future Fire Impact Fees to the Fire Stations.
Land Sales and other one-time funds:
The City owns a variety of land that could be sold with the proceeds being dedicated to the
Public Safety Plan. Staff estimates there is approximately $15 million in proceeds that could be
available to fill the gap. Potential land sales include:
• Newporter site
• Tukwila Village Phases 1, 2 and 3
• Longacres site
• Old Fire Station 53 site
• Current Fire Station 51
• Current Fire Station 52
• Current Fire Station 54
• George Long Shops
• Minkler Shops
Additionally, the City currently has $3 million in the 301 fund for parks acquisition from REET 1.
The Council recently gave the authority for REET 1 to be used for the Public Safety Plan and
this funding could be dedicated to the public safety plan in a one-time manner similar to the land
sales.
Staff recommendation: Dedicate land sales identified above and the $3 million in the 301 fund
to the Public Safety Plan.
Ongoing REET 1:
The City also has the opportunity to dedicate REET 1 funding to the Public Safety Plan moving
forward. Given historical REET 1 accruals, staff believes that approximately $500,000 per year
could be dedicated to the Public Safety Plan gap.
Staff recommendation: Dedicate ongoing REET 1 to the Public Safety Plan; funds above
$500,000 per year would go to parks acquisition.
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INFORMATIONAL MEMO
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Outcome of February 6, 2018 Finance Committee
After the February 6, 2018 Finance Committee, staff used the discussion to begin building the
iterative model discussed on page one of this memo. There are two different versions of the
financial framework attached, one that shows 20 -year councilmanic bonds and one that uses a
30 -year span. Both include the full cost of debt service and annual payment necessary to repay
the bonds. Also included in this phase of the model are identified land sales and one-time funds
available to dedicate to the Public Safety Plan, as well as ongoing REET 1.
The new revenue options on the attachment are meant to be potential tools for Council to
deliberate as it considers how to repay councilmanic bonds, should the Council choose to move
forward with those tools. However, it is not the recommendation of staff that the entire bonds be
paid back with new revenues, nor that each of these revenues should be used. As identified in
the schedule above, the Committee will also be reviewing operational changes that could occur
to find existing funds to dedicate to the Public Safety Plan projects. Additionally, the Committee
will review the project's existing schedule to determine whether there should be some deviation.
New Revenue Options
Attached is a spreadsheet of new revenue options available to Council to make decisions
regarding the Public Safety Plan funding gap. Staff recognizes that some options may not be
palatable to the Council but has provided them in order to give a complete picture of the funding
tools available. Where possible, we have provided context for neighboring jurisdictions' rates
and specific information on amount available, mechanisms and types. Staff will discuss each
option with the Committee in detail at the January 21, 2018 Finance Committee meeting.
Outstanding Questions from the February 6, 2018 Finance Committee
The Committee asked for the following information and/or clarification to assist in making
decisions on filling the Public Safety Plan gap:
• Provide the debt chart that Vicky Carlsen has previously shared in order to get a better
understanding of the long-term implications of existing and any future councilmanic
debt. See attached.
• Provide information of what the implications are of 20 -year vs. 30 -year councilmanic
bonds. See two attached versions of the model.
• Report by year on what has been paid to the City for Fire Impact fees since they were
implemented. See attached document.
• Provide an estimate of what the Public Safety Plan would pay in impact fees. Because the
City is in the middle of updating its impact fees, we cannot calculate this information at
this time. Staff will do this once impact fees are updated, scheduled in the first quarter
of 2018.
• Indicate whether an automatic escalator can be included in the impact fees update coming
before Council shortly. An escalator has been included in the impact fees legislation
coming before Council.
• Provide information on Parks' REET 1 expenditures. In 2018, Parks intends to spend
REET 1 funds on the following:
o Second Dog Park
o TCC Lobby Improvements
o Trail Repairs
o Fort Dent Overlay
o TCC Seismic Evaluation
•What is the recommendation for when the Committee brings the full recommendations to
Council? Staff recommends that the Finance Committee initiates the meeting with the
full Council in early May so that there are multiple opportunities to have this discussion
and deliberations.
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INFORMATIONAL MEMO
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Follow Up from the February 21 Finance Committee Meeting
Staff was asked to return with the following additional information and/or address these issue in
subsequent meetings as the Committee deliberates on recommendations as to how to address
the Public Safety Plan financial gap:
• Assurance that there will be a discussion on how the Public Safety Plan financial
framework (20- and 30 -year potential options reviewed on February 21) intersects with
the City's overall six-year financial plan. Staff will bring that information for the
Committee at a subsequent meeting.
• Add Tukwila's various fees to the new revenue matrix. This is done and included on the
updated version attached.
• List the utility taxes the City levies and all of the utilities that the City has franchise
agreements with. This is done and included on the updated version attached.
• Research additional information on the following new revenue options; staff will address at
a subsequent meeting:
o Possibility of structuring a B&O tax because businesses are a large consumer of
public -safety related services and such a tax could provide more parity with the
residential population; any such tax would be levied only on larger businesses
o Local Improvement District
• Identify what Parks has planned for REET 1 distribution in 2018 and explain whether the
projects would come before Council for approval. The Council adopted the Capital
Improvement Plan (CIP) as a part of the 2017/2018 budget, which identified $581,000 in
projects from the 301 fund, of which $567,000 is from REET 1 funds. Any contract
associated with these projects above $40,000 would come before Council for approval.
While Parks is currently reassessing their overall capital projects given the potential for
REET 1 funds being redirected to the Public Safety Plan, below are the projects
identified in the CIP and slated for funding this year:
o Trail improvements: $ 62,000
o Parks improvements: $330,000
o Ft. Dent: $125,000
o Duwamish Hill Preserve: $ 24,000 ($10,000 from REET 1)
o Second Dog Park $ 40,000
o Total 301 Fund Adopted CIP: $581,000
• Provide a list of all City -owned properties. See attachment.
• Staff further acknowledges the concerns raised at the meeting of the ramifications of
potentially limiting future councils due to long-term debt.
Potential Additional New Revenue Source
One new revenue option not addressed at the February 21, 2018 Finance Committee meeting is
a potential increase in the City's gambling tax. The new revenue matrix has been updated to
reflect this potential tool. The City currently levies a 10% tax on cardrooms and in 2017
collected $3.8 million. Basing this analysis on 2017 collections, if the rate was increased to
15%, the City could collect an additional $1.9 million annually. If the rate was increased to 12%
there's the potential for an additional $720,000 per year.
General Fund Operations
Another tool available to fill the gap is to reduce general fund expenditures. The Committee is
not being asked to make a recommendation at this time on specific reductions, rather whether it
wants to consider such a tool as a part of the effort to fill the funding gap for the Public Safety
Plan. If it is a tool to be considered, staff recommends that any reductions would be identified
and approved through the 2019/2020 budget process.
Staff has identified three options to reduce general fund operational expenditures, including (1)
across the board cuts, (2) program reductions using the current budget model, and (3) program
reductions using the Priority Based Budgeting (PBB) model. These three options are outlined
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INFORMATIONAL MEMO
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below. It should be noted that all recommended reductions would come from operating costs,
while all mandated expenses (including debt service) would remain intact.
With all options, an analysis would be completed to determine the level of reduction required
each year.
Option 1 — Across the Board Reductions in all Departments
Once the annual expenditure reduction amount is determined (most likely a percentage of the
total budget; examples provided in attachment), each department would be required to reduce
their budget by that percentage.
Pros:
• Process is easy to communicate
• Appearance of fairness — every department takes the same reduction
• Can be a way to avoid tough decisions
Cons:
• Missed opportunity to cut ineffective and/or low priority programs
• Ignores the differential effectiveness and priority of programs
• Ignores which expenditures/programs generate revenue
• Ignores consumption vs investment
• Reductions are not strategic
• Not considered best practice
Option 2— Reduce/Eliminate Programs Using Current Budget Structure
Pros:
• Lower priority programs (recommended by staff but informed by and ultimately approved
by the Council) are reduced/eliminated
Cons:
• Objective analysis of program efficiency not part of decision
• Objective analysis of program priority not part of decision
• Doesn't consider true cost of program
• Not considered best practice
Option 3— Reduce/Eliminate Programs Using Priority -Based Budgeting (PBB) Model
Pros:
• Lower priority programs (as identified through an objective scoring process) are
reduced/eliminated
• Requires serious discussion of community values, relative benefits of different services,
and long-term implications of reducing/eliminating programs
• Demonstrates strategic approach to managing significant financial issues
• Aligns with current best practice
• True cost of program is known
Cons:
• PBB model not yet fully implemented
Based on the pros and cons of each method identified above, Option 3 would provide the most
efficient and objective method of determining reductions to General Fund expenditures. The
Council has expressed support for PBB, and one of the primary benefits of the PBB model is
that lower level priorities are easily identified, and actual program costs are known.
Capital Improvement Plan Prioritization
One option for the Committee to consider is reprioritizing the Capital Improvement Plan (CIP) to
dedicate General Fund dollars that transfer to the CIP to the Public Safety Plan. Over the past
6 four years the City has budgeted an average of $3 million per year of General Fund dollars to
INFORMATIONAL MEMO
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transfer to the CIP. General Fund dollars go to leverage grant funds and other matching funds
for a variety of capital projects, largely for street work. Below are the budgeted and actual
transfers to the CIP for the past four years.
Year
Budgeted Transfer to CIP
Actual Transfer to CIP
2014
$2,662,000
$3,150,000
2015
$2,674,000
$2,374,000
2016
$3,551,000
$1,151,000
2017
$2,000,000
$2,000,000
In addition, REET 2 funds are currently dedicated to the 104 fund, which covers bridges and
arterial streets. REET 2 funds, like REET 1 discussed on February 6, could be dedicated to
financing the Public Safety Plan as well. If reprioritizing REET 2 for the Public Safety Plan was
of interest to the Council, staff estimates the annual amounts would be the same as the REET 1
estimate of $500,000 per year.
The Council could decide to reduce but not eliminate the General Fund contributions to the CIP
to cover the Public Safety Plan financial gap and identify an amount that would allow the City to
continue to leverage grant funds for capital projects, though at a reduced rate.
Follow Up from the March 6, 2018 Finance Committee Meeting
Staff was asked to follow up on the following from the March 6, 2018 Finance Committee
Meeting:
• Provide the 2017 budget statistics, including trends and forecast for the future. This
information will be provided at the April 3, 2018 Finance Committee Meeting.
• Include a map of Park properties. Attached to the memo.
• Identify proposed Administration recommendations for immediate operational reductions.
These will be provided by the April 17, 2018 Finance Committee meeting.
• Provide a CIP prioritization analysis of the effects of reducing the CIP. An analysis of a
$500,000 annual ongoing reduction in the CIP will be provided at the April 3, 2018
Finance Committee meeting.
• Provide information on market conditions moving forward from the City's current
contractors and the Council's Program Management Quality Assurance (PMQA)
consultant. Steve Goldblatt, the Council's PMQA consultant will be in attendance at the
March 20, 2018 Finance Committee meeting and additional information is provided
below regarding forecasted market conditions.
Project Schedule
As prescribed by the agreed-upon schedule outlined in the beginning of this memo, the
discussion slated for the March 20, 2018 meeting centers on the ramifications of pushing back
the schedules of some of the Public Safety Plan projects in order to spread out funds needed for
construction. Below is a discussion of this option, with some specific assumptions built in.
Assumptions
• Due to the increasing cost of land year over year, as well as the fact that the City has
initiated the acquisition process for all of the necessary properties, staff has assumed
that acquisition of all of the properties would continue on the timeline set forward by the
Public Safety Plan and does not recommend, nor did staff analyze, the ramifications of
waiting on acquisition.
• Because Fire Station 51 is contractually obligated by the Tukwila Valley South
Development Agreement, staff does not recommend, nor did staff analyze, pushing out
the Fire Station 51 project. This project is also the furthest along in the process.
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• With Fire Station 51 moving to the new site at Southcenter Parkway and South 180th, the
need to move Fire Station 52 to the preferred site on the City Hall Campus becomes
critical. As the FACETS study showed, once Fire Station 51 moves it is imperative that
Fire Station 52 also move to the proposed location to ensure equitable response times
across the city. Because the existing Fire Station 54 is within the FACETS identified
location area, it is not subject to the same urgency. Staff does not recommend, nor did
staff analyze, delaying the Fire Station 52 project.
Analysis
For discussion purposes, staff worked with Shiels Obletz Johnsen and Lydig Construction, the
GCCM for the fire stations, to identify the forecasted cost escalation associated with waiting to
construct the Justice Center, Fire Station 54 and the Public Works Shops. For planning
purposes, the team looked at what the ramifications would be if these three projects were
delayed by five years. While there have been questions as to whether the overall construction
market is slowing down, Lydig's forecast indicate continued increased costs over time. Their
forecast analysis shows the following percentage annual increases from 2018 through 2023,
which compound over time, raising the cost of the projects by nearly 25% over that time period:
Year
2019
2020
2021
2022
2023
Annual %
Increase
5%
5.25%
2.2%
5.1%
4%
On the attached conceptual cash flow document, you can see that the projects escalate in the
following ways:
• Justice Center:
o Total cost under current schedule: $68.5 million
o Total cost delaying project five years: $82.5 million
• Fire Station 54:
o Total cost under current schedule: $14.7 million
o Total cost delaying project five years: $18.6 million
• Public Works Shops (most conservative estimate):
o Total cost under current schedule: $63.4 million
o Total cost delaying project five years: $76.8 million
• Public Works Shops (best case estimate):
o Total cost under current schedule: $44.8 million
o Total cost delaying project five years: $52.8 million
As we have done with the previous topics covered in this process, staff is seeking a discussion
with the Committee about this analysis in order to inform the Administration recommendations.
These will be presented at the April 3, 2018 Finance Committee meeting for discussion and will
include the financial framework for review. Staff anticipates there will be discussion and
Committee refinement at the April 3 and April 17 Finance Committee meetings, with a goal of a
Finance Committee recommendation to full Council by the end of April, should Committee
members concur.
Follow Up
Staff was asked to follow up on what savings could be found in the existing Capital
Improvement Program (CIP):
• One-time funding from 2018:
o Cascade View Safe Routes to School savings: $100K
o Small Roadway projects savings: $175K
o S. 144th St. Bridge Sidewalks (grant not received): $190K
o S. 140th St. Intersections (grant not received): $ 75K
8 o TOTAL: $540K
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• Ongoing reduction potential
o The General Fund makes an annual contribution to the Residential Street
Improvement Fund of $750K per year.
Potential Scenarios to Fill the Public Safety Plan Gap
The Committee has requested that staff provide recommendations on potential options for filling
the Public Safety Plan gap. Below is a summary of five options for discussion at the April 3,
2018 Committee meeting. Attached to this memo is the detailed financial framework for each
option, including year -by -year impacts. Staff expects to refine these based on Committee
discussion and return for focused discussion on a smaller number of options for the Committee
to consider as it deliberates on its recommendation to the full council.
The following key assumptions went in to the development of these options:
• One-time funds previously discussed (such as land sales, existing REET, etc.) are
included in all options.
• Dedicated REET1 to PSP projects is included in all options.
• Fire impact fees are included at the projected higher rate and Tukwila South agreement
fire impact fees are also included in all options.
• LTGO bonds are assumed at a 30 -year amortization rate.
• Reducing the PW facilities to $30M would allow for land acquisition, improvements to one
of the existing buildings and a full design program for the PW shops. Future decisions
would need to be made about the Shops, with the ability to use Enterprise funds for
additional financing.
• Two scenarios contemplate reducing eliminating funding for Fire Apparatus and
Equipment after year 10. The City would have five bienniums to identify how to pay for
this needed equipment.
• Two scenarios contemplate reducing or eliminating the construction of FS 54. There
would likely be some costs associated with upgrading the facility.
• Where there is no General Fund obligation, but identified capacity from maturing debt, the
repayment method could be a combination of General Fund contribution and maturing
debt capacity to repay the LTGO bonds.
• Unless eliminated, each scenario contemplates the projects being built on the existing
schedule.
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LTGO Repayment Method
Option
FS 51
FS 52
FS 54
A&E
JC
PW
2020
General Fund
Capacity
LTGO
contribution
from
Bonds
maturing
debt
A
$12M
$17M
$14M
$29M
$68M
$63M
$66M
$1M - $2.5 M
per yr
$830K - $3M
per yr
B
$12M
$17M
$14M
$29M
$68M
$30M
$32M
$1M - $2M
per yr
$830K -
$2.6M per yr
C1
$12M
$17M
$14M
$15M
$68M
$30M
$35M
$1M in 2028
$500K in 2029
$830K -
$1.6M per yr
C2
$12M
$17M
$0
$29M
$68M
$30M
$20M
$0
$830K - $2M
per yr
D
$12M
$17M
$0
$15M
$68M
$30M
$20M
$0
$500K -
$1.2M per yr
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Staff recommends Option 01 for the following reasons:
• The costs associated with building construction will likely rise faster than the costs
associated with procuring apparatus and equipment for Fire, so it makes sense to
prioritize the building over equipment.
• The City would have ample time to identify how to fund apparatus and equipment in the
out -years.
• The City previously did not have an apparatus and equipment fund and has historically
paid for items out of the General Fund.
• Dedicating $30M to shops allows for the City to acquire all of the property, perform
necessary upgrades to one existing facility and fully develop a program and design for
the rest of the facility, allowing the City a better idea of the total budget. This also allows
the City to better identify how it can leverage Enterprise Funds' contribution.
• There is very little obligation to the General Fund in this option and would not use all of the
capacity from maturing debt on an annual basis, allowing for other capital priorities
should the Council wish.
Follow Up and Next Steps
As the Committee continues to deliberate on how to fill the Public Safety Plan financial gap, it
has asked for specific issues to be addressed and information to be provided. Now that the
Schematic Design estimate is in for the Justice Center, there is more certainty in the costs
associated with the Public Safety Plan. However, the Committee has made it clear that more
information is needed on the overall budget forecast for the City and the six-year financial plan.
The City also has the White Birch tool, which will be previewed at the May 8, 2018 Finance
Committee meeting, to assist in the modeling of filling the financial gap.
The City is committed to being transparent with the community on the Public Safety Plan and
has previously indicated it would hold two open houses in 2018. Staff has tentatively scheduled
(though not yet advertised) a community open house for Saturday, June 23. Should the
Committee members desire to keep the open house as currently scheduled, staff propose the
following next steps:
• May 22 Finance Committee: Overview of six-year financial plan "Attachment A" and
discussion of options to model in White Birch
• June 5 Finance Committee: Review models in White Birch, discuss preferred option
• If ready— June 11 COW discussion on the various options
• If ready— June 18 Council action
The City also has the option to move the open house back to ensure that the Committee and
Council have sufficient time to review and decide on a path to fill the Public Safety Plan financial
gap. Staff is seeking direction on the proposed next steps and timeline, as well as any
additional information the Committee deems necessary to make a recommendation to the full
Council.
Committee Options to Model in Whitebirch
Per the agreement on the above described timeline, the May 22 Finance Committee will be an
opportunity for Committee members to propose potential strategies for financing the Public
Safety Plan gap that were not included in the five scenarios provided by staff. Staff will then
return to the June 5 Finance Committee with Committee members' scenarios in Whitebirch for
review and discussion, with the goal of identifying a preferred option to present to the full
Council at the June 11 workshop. No other items will be scheduled for the June 5 Committee
meeting.
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Staff continues to recommend scenario C1, which would:
• Build all three fire stations on the current timeline
• Build the Justice Center on the current timeline
• Invest $30 million in Public Works facilities, allowing for the land purchase, improvements
to two of the existing buildings and the architectural and engineering work needed to
program and design the remaining facility
• Pay for fire apparatus and equipment for ten years, allowing the City to identify how it
would pay for these needed items during this time
All five scenarios are contained in the financial framework documents attached, including C1.
The Administration believes that C1 is the best option because it does not rely on General Fund
contributions (except for years 2028 and 2029, which can be smoothed out by shifting
apparatus purchases), does not utilize all of the capacity from maturing debt, and allows for the
most significant portion of the Public Safety Plan to be achieved in the current timeline.
Staff specifically does not recommend using new revenue to fund the Public Safety Plan
because it is believed that this tool should be saved for the 2019/2020 budget process to
address the flattening of sales tax and the elimination of Streamline Sales Tax mitigation
payments. However, the new revenue matrix is attached for discussion of Committee members'
desired scenarios.
Scenario Overview
Attached are the various scenarios shown in the detailed charts, as well as modeled in
Whitebirch against our six-year financial forecast. In order to facilitate discussion on the pros
and cons of each scenario, the chart below was developed to show the major components of
each scenario.
As a reminder, the following key assumptions went in to the development of these options:
• One-time funds previously discussed (such as land sales, existing REET, etc.) are
included in all options.
• Dedicated REET1 to PSP projects is included in all options.
• Fire impact fees are included at the projected higher rate and Tukwila South agreement
fire impact fees are also included in all options.
• Scenarios were run at both 20 -year and 30 -year amortization schedules.
• Reducing the PW facilities to $30M would allow for land acquisition, improvements to one
of the existing buildings and a full design program for the PW shops. Future decisions
would need to be made about the Shops, with the ability to use Enterprise funds for
additional financing.
• Two scenarios contemplate reducing eliminating funding for Fire Apparatus and
Equipment after year 10. The City would have five bienniums to identify how to pay for
this needed equipment.
• Two scenarios contemplate reducing or eliminating the construction of FS 54. There
would likely be some costs associated with upgrading the facility.
• Unless eliminated, each scenario contemplates the projects being built on the existing
schedule.
11
INFORMATIONAL MEMO
Page 12
Using C-1 as the example, the following is a summary of the major differences between using
20 -year and 30 -year financing. While the numbers will change across the other scenarios, the
basic information is the same for all scenarios when comparing 20- and 30 -year financing:
20 -year financing will:
• Require the City to identify additional funds from the general fund from 2025 to 2037.
• Save $13.2 million in general fund and other funds (REET, impact fees) vs 30 -year
financing starting in 2040.
• Save $11 million total in financing costs.
• Save $5 million in the enterprise funds for their portion of the public works facility.
• Note: 20 -year financing assumes a 3.75% rate; 30 -year financing assumes a 4.00% rate.
In all scenarios, the Public Safety Plan begins to affect the six-year forecast in 2020, when
$831,000 of the general fund maturing debt begins to go toward the Plan.
Revised Scenario - Option E — Financing Apparatus purchases
The State has a specific financing tool with lower rates to allow cities to finance large apparatus
(pumpers and ladders) over 10 years rather than using cash. We have modeled this financing
tool using Option 01 — 20 and 30 years as the base.
Over the life of the Plan, general fund cash requirements are reduced.
• In the 20 -year option, general fund cash requirements are delayed one year, and average
annual costs are reduced $200-$500K for a period of time.
• In the 30 -year option, general fund cash requirements are reduced to $0 in future years.
12
LTGO Repayment
Method
LTGO
Range of
Capacity
from
Total
Total
Option
FS 51
FS 52
FS 54
A&E
JC
PW
Bond
Annual Cash
Contribution
maturing
debt
GF
Cont.
Debt
Service
A-20
$12M
$17M
$14M
$29M
$68M
$63M
$86M
$1M $5M
$830K
$86.4M
$79.9 M
2019-2035
$2.6M per yr
A-30
$12M
$17M
$14M
$29M
$68M
$63M
$86M
$1M - $2.5 M
2019-2038
$830K -
$2.6M per yr
$94.3M
$95.7 M
C1-20
$12M
$17M
$14 ,
$15M
$68M
$30M
$55M
$200K $1.5M
2025-2037
$830K $2M
per yr
$43.2M
$59 M
C1-30
$12M
$17M
$1
$15M
$68M
$30M
$55M
$1M in 2028 &
$500K in 2029
$830K $2M
per yr
$51M
$70.6M
C2-20
$12M
$17M
$0
$291
$68M
$30M
$40M
$500K $1.5M
2031-2037
$830K $2M
per yr
$36.7M
$37 M
C2-30
$12M
$17M
$0
$2911
$68M
$30M
$40M
$283K in 2017
$830K - $2M
per yr
$40.7M
$44.2 M
D-20
$12M
$17M
$0
$15M
$68M
$30M
$40M
$500K $1M
$500K
$21.6M
$37 M
2026-2032
$1.2M per yr
D-30
$12M
$17M
$0
$15M
$68M
$30M
$40M
$283K in 2017
$500K1.2M per yr
$22.8M
$44.2 M
E-20
$12M
$17M
$15M
$68M
$30M
$55M
$100K $1.3M
2026-2038
$830K $2M
per yr
$43.9M
$59 M
$14
E-30
$12M
$17M
$14 .'
$15M
$68M
$30M
$55M
$283K
in 2017
$830K - $2M
per yr
$51.9M
$70.6M
Using C-1 as the example, the following is a summary of the major differences between using
20 -year and 30 -year financing. While the numbers will change across the other scenarios, the
basic information is the same for all scenarios when comparing 20- and 30 -year financing:
20 -year financing will:
• Require the City to identify additional funds from the general fund from 2025 to 2037.
• Save $13.2 million in general fund and other funds (REET, impact fees) vs 30 -year
financing starting in 2040.
• Save $11 million total in financing costs.
• Save $5 million in the enterprise funds for their portion of the public works facility.
• Note: 20 -year financing assumes a 3.75% rate; 30 -year financing assumes a 4.00% rate.
In all scenarios, the Public Safety Plan begins to affect the six-year forecast in 2020, when
$831,000 of the general fund maturing debt begins to go toward the Plan.
Revised Scenario - Option E — Financing Apparatus purchases
The State has a specific financing tool with lower rates to allow cities to finance large apparatus
(pumpers and ladders) over 10 years rather than using cash. We have modeled this financing
tool using Option 01 — 20 and 30 years as the base.
Over the life of the Plan, general fund cash requirements are reduced.
• In the 20 -year option, general fund cash requirements are delayed one year, and average
annual costs are reduced $200-$500K for a period of time.
• In the 30 -year option, general fund cash requirements are reduced to $0 in future years.
12
INFORMATIONAL MEMO
Page 13
STAFF RECOMMENDATION
Staff recommends Option E with LTGO financing over a 30 -year period because:
- Builds all of the facilities within the current timeframe.
- Impact on the six-year financial plan is limited to using maturing debt
- No additional general fund cash contribution necessary over the life of the plan
- Financing apparatus reduces general fund cash requirements on an annual basis
- 30 -year financing provides the greatest flexibility for the general fund; and
o Useful life of the Facilities is greater than the length of the debt service
o People who benefit from the facilities will pay for them
o Cost of the facilities is distributed to more taxpayers over time
o Time value of money — dollars spent in future years have less value than dollars spent
today
Staff is seeking Committee consensus on a preferred scenario to bring to the full Council at the
June 11, 2018 workshop for discussion, with adoption of the preferred scenario on June 18,
2018. The goal is to have a preferred scenario for dealing with the Public Safety Plan financial
gap prior to the June 23, 2018 Open House.
RECOMMENDATION
Staff is seeking committee interest in the various tools presented today. At the next Committee
meeting there will be a full discussion of the various potential new revenue tools the Committee
may want to employ to fill the funding gap. Subsequent to that meeting, the Committee will also
discuss any potential general fund obligations that could be used for the gap. This direction will
allow staff to build a model based on the Council's priorities and Administration
recommendations. Finally, a discussion on the project schedule and potential cost implications
of accelerating/delaying projects, can be placed into the model to understand the cash flow and
facility ramifications.
ATTACHMENT
Public Safety Plan Financial Frameworks
Option A-20
Option A-30
Option C1-20
Option C1-30
Option C2-20
Option C2-30
Option D-20
Option D-30
Whitebirch Analysis of Options Within Six -Year Financial Plan
Option A-20
Option A-30
Option C1-20
Option C1-30
Option C2-20
Option C2-30
Option D-20
Option D-30
13
14
PUBLIC SAFETY PLAN - Financial Framework, Scenario A - 20 Year Debt
01
6/1/2018
Scenario A-20yr a
1 of 2
B
D
F
G
H
I
J
K
L
M
N
0
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
86,000,000
20,000,000
66,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
8,002,134
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
11,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
43,933,709
283,709
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
2,500,000
1,500,000
1,500,000
2,000,000
3,800,000
4,500,000
3,000,000
3,000,000
4,000,000
2,500,000
19
Additional capacity from maturing,
existing debt
42,531,400
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
292,848,088
2,058,992
30,338,000
42,875,046
72,031,000
4,971,000
7,931,000
2,931,000
5,068,000
4,594,000
4,594,000
5,094,000
6,894,000
7,594,000
6,094,000
6,144,000
6,794,000
5,294,000
% Dbt Svc capacity used for PSP
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
14,763,378
142,791
1,554,000
1,978,000
10,274,000
814,587
30
Apparatus & equip
29,932,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
31
Shops
63,410,851
283,709
19,361,000
4,989,000
28,317,000
10,460,142
-
35
Project Expenditures Total
206,867,877
1,847,199
45,536,359
45,438,582
77,545,292
12,585,101
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
126,855,528
750,000
750,000
3,225,000
3,225,000
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
6,793,073
39
Utility Fds pay rent = 50% of dbt svc
(46,911,199)
(375,000)
(375,000)
(1,190,625)
(1,190,625)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
40
GF Debt Service Total
79,944,329
-
375,000
375,000
2,034,375
2,034,375
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
4,267,249
41
Expense Total
286,812,206
1,847,199
45,911,359
45,813,582
79,579,667
14,619,476
4,850,773
4,774,729
6,864,271
4,652,004
4,682,229
5,073,526
6,977,033
7,779,814
5,874,452
5,864,660
7,133,205
5,155,929
42
48
Annual Surplus (Shortfall)
6,035,881
211,793
(15,573,359).
(2,938,536)
(7,548,667)
(9,648,476)
3,080,227
(1,843,729)
(1,796,271)
(58,004)
(88,229)
20,474
(83,033)
(185,814)
219,548
279,340
(339,205)
138,071
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
21,151,561
18,213,025
10,664,357
1,015,881
4,096,108
2,252,379
456,108
398,104
309,875
330,349
247,316
61,501
281,049
560,390
221,184
50
Ending Carryover (Shortfall)
6,035,881
36,724,920
21,151,561
18,213,025
10,664,357
1,015,881
4,096,108
2,252,379
456,108
398,104
309,875
330,349
247,316
61,501
281,049
560,390
221,184
359,255
01
6/1/2018
Scenario A-20yr a
1 of 2
0)
PUBLIC SAFETY PLAN - Financial Framework, Scenario A - 20 Year Debt
6/1/2018
Scenario A-20yr a 2 of 2
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
1
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
85,134
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance
5,000,000
1,500,000
1,800,000
1,000,000
50,000
19
Additional capacity from maturing,
existing debt
1,994,000
2,259,000
2,647,000
2,647,000
2,561,600
2,561,600
2,561,600
2,561,600
23
Revenue Total
7,794,000
4,559,000
5,247,000
4,447,000
3,411,600.
3,361,600
3,361,600
2,646,734
-
-
-
-
-
-
--
-
% Dbt Svc capacity used for PSP
100%
100%
100%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%80%
°
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
3,667,573
243,009
609,751
712,979
--
-
-
-
-
-
-
-
-
-
-
-
31
Shops
35
Project Expenditures Total
3,667,573
243,009
609,751
712,979
-
-
-
-
-
-
-
-
-
-
-
-
-
37
Debt Service
38
Debt service LTGO
6,793,073
6,793,073
6,793,073
6,793,073
5,108,177
5,108,177
-
-
-
--
-
-
-
-
-
-
39
Utility Fds pay rent = 50% of dbt svc
(2,525,825)
(2,525,825)
(2,525,825)
(2,525,825)
(1,683,376)
(1,683,376)
-
-
-
-
-
-
-
-
-
-
40
GF Debt Service Total
4,267,249
4,267,249
4,267,249
4,267,249
3,424,800.
3,424,800-
-
-
-
-
-
-
-
-
-
41
Expense Total
7,934,822
4,510,258
4,877,000
4,980,227
3,424,800
3,424,800
-
-
-
-
-
--
-
-
-
-
i
42
48
Annual Surplus (Shortfall) (140,822)
48,742
370,000
(533,227)
(13,200)
(63,200)
3,361,600
2,646,734
-
-
-
-
-
-
-
-
-
49
Beginning Carryover (Shortfall)
359,255
218,433
267,175
637,176
103,948
90,748
27,547
3,389,147
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
50
Ending Carryover (Shortfall)
218,433
267,175
637,176
103,948
90,748
27,547
3,389,147
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6,035,881
6/1/2018
Scenario A-20yr a 2 of 2
Co
PUBLIC SAFETY PLAN - Financial Framework, Scenario A - 30 Year Debt
CD
6/1/2018
Scenario A-30yr
1 of 2
B
D
F
G
H
1
J
K
L
M
N
O
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
86,000,000
20,000,000
66,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
10,917,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
16,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
28,783,709
283,709
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,500,000
1,500,000
2,000,000
2,000,000
2,000,000
2,000,000
2,000,000
2,500,000
2,500,000
19
Additional capacity from maturing,
existing debt
65,585,800
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
308,667,354
2,058,992
30,338,000
42,875,046
72,031,000
4,971,000
7,931,000
2,931,000
3,568,000
4,594,000
4,594,000
5,094,000
5,094,000
5,094,000
5,094,000
5,144,000
5,294,000
5,294,000
Dbt Svc capacity used for PSP
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
14,763,378
142,791
1,554,000
1,978,000
10,274,000
814,587
30
Apparatus & equip
29,932,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
31
Shops
63,410,851
283,709
19,361,000
4,989,000
28,317,000
10,460,142
-
35
Project Expenditures Total
206,867,877
1,847,199
45,536,359
45,438,582
77,545,292
12,585,101
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
151,919,016
800,000
800,000
3,440,000
3,440,000
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
39
Utility Fds pay rent = 50% of dbt svc
(56,155,421)
(400,000)
(400,000)
(1,270,000)
(1,270,000)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
40
GF Debt Service Total
95,763,595
-
400,000
400,000
2,170,000
2,170,000
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
41
Expense Total
302,631,472
1,847,199
45,936,359
45,838,582
79,715,292
14,755,101
3,864,773
3,788,728
5,878,271
3,666,003
3,696,228
4,087,525
5,991,032
6,793,813
4,888,452
4,878,659
6,147,205
4,169,929
42
48
Annual Surplus (Shortfall)
6,035,881
211,793
(15,598,359)
(2,963,536)
(7,684,292)
(9,784,101)
4,066,227
(857,728)
(2,310,271)
927,997
897,772
1,006,475
(897,032)
(1,699,813)
205,548
265,341
(853,205)
1,124,071
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
21,126,561
18,163,025
10,478,732
694,631
4,760,859
3,903,131
1,592,860
2,520,856
3,418,628
4,425,103
3,528,071
1,828,257
2,033,805
2,299,146
1,445,942
50
Ending Carryover (Shortfall)
6,035,881
36,724,920
21,126,561
18,163,025
10,478,732
694,631
4,760,859
3,903,131
1,592,860
2,520,856
3,418,628
4,425,103
3,528,071
1,828,257
2,033,805
2,299,146
1,445,942
2,570,013
CD
6/1/2018
Scenario A-30yr
1 of 2
N
O
PUBLIC SAFETY PLAN - Financial Framework, Scenario A - 30 Year Debt
6/1/2018
Scenario A-30yr 2 of 2
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
1
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance
2,500,000
1,000,000
-
-
-
-
-
19
Additional capacity from maturing,
existing debt
1,994,000
2,259,000
2,647,000
2,647,000
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
2,561,600
23
Revenue Total
5,294,000
4,059,000
3,447,000
3,447,000
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
3,361,600
% Dbt Svc capacity used for PSP
100%
100%
100%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%
80%
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
3,667,573
243,009
609,751
712,979
-
-
-
-
-
-
-
-
-
-
-
-
31
Shops
35
Project Expenditures Total
3,667,573
243,009
609,751
712,979
--
-
-
-
-
-
-
-
-
-
-
37
Debt Service
38
Debt service LTGO
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
5,212,204
3,960,856
3,960,856
-
39
Utility Fds pay rent = 50% of dbt svc
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,930,956)
(1,305,282)
(1,305,282)
-
40
GF Debt Service Total
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
2,655,574
2,655,574
-
41
Expense Total
6,948,821
3,524,257
3,890,999
3,994,227
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
3,281,248
2,655,574
2,655,574
-
42
48
Annual Surplus (Shortfall) (1,654,821)
534,743
(443,999)
(547,227)
80,352
80,352
80,352
80,352
80,352
80,352
80,352
80,352
80,352
80,352
706,026
706,026
3,361,600
49
Beginning Carryover (Shortfall)
2,570,013
915,192
1,449,935
1,005,936
458,709
539,061
619,413
699,765
780,117
860,469
940,821
1,021,174
1,101,526
1,181,878
1,262,230
1,968,256
2,674,281
50
Ending Carryover (Shortfall)
915,192
1,449,935
1,005,936
458,709
539,061
619,413
699,765
780,117
860,469
940,821
1,021,174
1,101,526
1,181,878
1,262,230
1,968,256
2,674,281
6,035,881
6/1/2018
Scenario A-30yr 2 of 2
N
N
PUBLIC SAFETY PLAN - Financial Framework, Scenario C1 - 20 Year Debt
N
W
6/1/2018
Scenario C1-20yr a 1 of 2
B
D
F
G
H
1
J
K
L
M
N
O
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
i
2027
2028
2029
2030
2031
2032
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
55,000,000
20,000,000
35,000,000
11
Fire Impact fees & deposit - Seale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
9,417,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
14,155,928
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
11,583,709
283,709
-
-
-
-
-
-
-
1,500,000
1,500,000
1,500,000
1,500,000
1,200,000
-
-
-
500,000
19
Additional capacity from maturing,
existing debt
31,710,500
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
222,747,982
2,058,992
29,338,000
41,875,046
40,031,000
3,971,000
6,931,000
1,931,000
2,568,000
4,594,000
4,594,000
4,594,000
4,594,000
4,294,000
3,094,000
3,144,000
2,794,000
3,294,000
% Dbt Svc svgs used for PSP
100%
100%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
14,763,378
142,791
1,554,000
1,978,000
10,274,000
814,587
30
Apparatus & equip
15,000,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
31
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
35
Project Expenditures Total
158,525,026
1,847,199
45,536,359
43,991,582
54,947,292
3,219,250
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
-
-
-
-
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
81,343,214
750,000
750,000
2,062,500
2,062,500
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
39
Utility Fds pay rent = 50% of dbt svc
(22,319,868)
(375,000)
(375,000)
(562,500)
(562,500)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
40
GF Debt Service Total
59,023,346
-
375,000
375,000
1,500,000
1,500,000
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
41
Expense Total
217,548,373
1,847,199
45,911,359
44,366,582
56,447,292
4,719,250
3,747,872
3,671,827
3,761,370
4,549,102
4,579,327
3,970,624
5,874,131
3,937,477
3,164,347
3,164,347
3,164,347
3,164,347
42
48
Annual Surplus (Shortfall)
5,199,609
211,793
(16,573,359)
(2,491,536)
(16,416,292)
(748,250)
3,183,128
(1,740,827)
(1,193,370)
44,898
14,673
623,376
(1,280,131)
356,523
(70,347)
(20,347)
(370,347)
129,653
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
20,151,561
17,660,025
1,243,732
495,482
3,678,611
1,937,784
744,414
789,312
803,985
1,427,361
147,229
503,753
433,406
413,059
42,712
50
Ending Carryover (Shortfall)
5,199,609
36,724,920
20,151,561
17,660,025
1,243,732
495,482
3,678,611
1,937,784
744,414
789,312
803,985
1,427,361
147,229
503,753
433,406
413,059
42,712
172,365
N
W
6/1/2018
Scenario C1-20yr a 1 of 2
N
-P
PUBLIC SAFETY PLAN - Financial Framework, Scenario C1 - 20 Year Debt
1
B
W
2034
X
2035
Y
2036
Z
2037
AA
2038
AB
2039
AC
2040
AD
2041
AE
2042
AF
2043
AG
2044
AH
2045
Al
2046
AJ
2047
AK
2048
AL
2049
AM
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
155,928
17
Investment earnings
18
Annual contribution to balance
200,000
1,500,000
800,000
1,100,000
19
Additional capacity from maturing,
existing debt
1,994,000
1,129,500
1,323,500
1,323,500
1,601,000
1,601,000
23
Revenue Total
2,994,000
3,429,500
2,923,500
3,223,500
2,401,000
2,401,000
800,000
800,000
800,000
800,000
800,000
800,000
155,928
-
-
-
-
% Dbt Svc svgs used for PSP
50%
50%
50%1
24
25
Project Expenditures
26
Justice Center
27
FS51
28
FS 52
29
FS 54
30
Apparatus & equip
0
0
0
0
0
0
0
0
0
0
0
0
0
31
Shops
35
Project Expenditures Total
-
-
-
-
-
--
-
-
-
-
-
-
-
-
-
37
Debt Service
38
Debt service LTGO
4,393,778
4,393,778
4,393,778
4,393,778
2,708,882
2,708,882
-
-
--
-
-
-
-
-
-
39
Utility Fds pay rent = 50% of dbt svc
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(386,983)
(386,983)
-
-
-
-
-
-
-
-
-
-
-
40
GF Debt Service Total
3,164,347
3,164,347
3,164,347
3,164,347
2,321,899
2,321,899
-
-
-
-
-
-
-
-
-
-
41
Expense Total
3,164,347
3,164,347
3,164,347
3,164,347
2,321,899
2,321,899
-
-
-
-
-
-
-
-
-
-
42
48
Annual Surplus (Shortfall) (170,347)
265,153
(240,847)
59,153
79,101
79,101
800,000
800,000
800,000
800,000
800,000
800,000
155,928
-
-
-
49
Beginning Carryover (Shortfall)
172,365
2,018
267,172
26,325
85,478
164,579
243,681
1,043,681
1,843,681
2,643,681
3,443,681
4,243,681
5,043,681
5,199,609
5,199,609
5,199,609
5,199,609
50
Ending Carryover (Shortfall)
2,018
267,172
26,325
85,478
164,579
243,681
1,043,681
1,843,681
2,643,681
3,443,681
4,243,681
5,043,681
5,199,609
5,199,609
5,199,609
5,199,609
5,199,609
6/1/2018
Scenario C1-20yr a 2 of 2
N
0)
PUBLIC SAFETY PLAN - Financial Framework, Scenario C1 - 30 Year Debt
N
6/1/2018
Scenario C1-30yr 1 of 2
B
D
F
G
H
1
J
K
L
M
N
0
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
t
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
55,000,000
20,000,000
35,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
10,917,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
16,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
1,783,709
283,709
-
-
-
-
-
-
-
-
-
-
1,000,000
500,000
-
-
-
-
19
Additional capacity from maturing,
existing debt
49,321,500
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
234,403,054
2,058,992
29,338,000
41,875,046
40,031,000
3,971,000
6,931,000
1,931,000
2,568,000
3,094,000
3,094,000
3,094,000
4,094,000
3,594,000
3,094,000
3,144,000
2,794,000
2,794,000
% Dbt Svc svgs used for PSP
100%
100%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
14,763,378
142,791
1,554,000
1,978,000
10,274,000
814,587
30
Apparatus & equip
15,000,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
31
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
35
Project Expenditures Total
158,525,026
1,847,199
45,536,359
43,991,582
54,947,292
3,219,250
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
-
-
-
-
36
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
97,347,754
800,000
800,000
2,200,000
2,200,000
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
39
Utility Fds pay rent = 50% of dbt svc
(26,669,335)
(400,000)
(400,000)
(600,000)
(600,000)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
40
GF Debt Service Total
70,678,418
-
400,000
400,000
1,600,000
1,600,000
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
41
Expense Total
229,203,445
1,847,199
45,936,359
44,391,582
56,547,292
4,819,250
3,009,588
2,933,543
3,023,086
3,810,818
3,841,043
3,232,340
5,135,848
3,199,193
2,426,063
2,426,063
2,426,063
2,426,063
42
48
Annual Surplus (Shortfall)
5,199,609
211,793
(16,598,359)
(2,516,536)
(16,516,292)
(848,250)
3,921,412
(1,002,543)
(455,086)
(716,818)
(747,043)
(138,340)
(1,041,848)
394,807
667,937
717,937
367,937
367,937
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
20,126,561
17,610,025
1,093,732
245,482
4,166,894
3,164,351
2,709,265
1,992,447
1,245,404
1,107,063
65,216
460,023
1,127,960
1,845,897
2,213,834
50
Ending Carryover (Shortfall)
5,199,609
36,724,920
20,126,561
17,610,025
1,093,732
245,482
4,166,894
3,164,351
2,709,265
1,992,447
1,245,404
1,107,063
65,216
460,023
1,127,960
1,845,897
2,213,834
2,581,771
N
6/1/2018
Scenario C1-30yr 1 of 2
N
co
PUBLIC SAFETY PLAN - Financial Framework, Scenario C1 - 30 Year Debt
1
B
W
2034
X
2035
Y
2036
Z
2037
AA
2038
AB
2039
AC
2040
AD
2041
AE
2042
AF
2043
AG
2044
AH
2045
Al
2046
AJ
2047
AK
2048
AL
2049
AM
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance
-
-
-
-
-
19
Additional capacity from maturing,
existing debt
1,994,000
1,129,500
1,323,500
1,323,500
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
1,601,000
23
Revenue Total
2,794,000
1,929,500
2,123,500
2,123,500
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
2,401,000
% Dbt Svc svgs used for PSP
50%
50%
50%.
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
0
0
0
0
0
0
0
0
0
0
0
0
0
31
Shops
35
Project Expenditures Total
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
36
37
Debt Service
38
Debt service LTGO
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
2,100,454
2,100,454
-
39
Utility Fds pay rent = 50% of dbt svc
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(300,065)
(300,065)
-
40
GF Debt Service Total
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
1,800,389
1,800,389
-
41
Expense Total
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
1,800,389
1,800,389
-
42
48
Annual Surplus (Shortfall) 367,937
(496,563)
(302,563)
(302,563)
(25,063)
(25,063)
(25,063)
(25,063)
(25,063)
(25,063)
(25,063)
(25,063)
(25,063)
(25,063)
600,611
600,611
2,401,000
49
Beginning Carryover (Shortfall)
2,581,771
2,949,707
2,453,144
2,150,581
1,848,018
1,822,955
1,797,892
1,772,829
1,747,766
1,722,703
1,697,640
1,672,577
1,647,514
1,622,451
1,597,388
2,197,998
2,798,609
50
Ending Carryover (Shortfall)
2,949,707
2,453,144
2,150,581
1,848,018
1,822,955
1,797,892
1,772,829
1,747,766
1,722,703
1,697,640
1,672,577
1,647,514
1,622,451
1,597,388
2,197,998
2,798,609
5,199,609
N
CD
6/1/2018
Scenario C1-30yr 2 of 2
W
O
PUBLIC SAFETY PLAN - Financial Framework, Scenario C2 - 20 Year Debt
W
6/1/2018
Scenario C2-20yr a 1 of 2
B
D
F
G
H
1
J
K
L
M
N
0
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032 i
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
40,000,000
20,000,000
20,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
9,672,491
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
14,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
7,783,709
283,709
1,500,000
1,500,000
1,500,000
19
Additional capacity from maturing,
existing debt
28,939,700
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
201,776,745
2,058,992
29,338,000
41,875,046
25,031,000
3,971,000
6,931,000
1,931,000
2,568,000
3,094,000
3,094,000
3,094,000
3,094,000
3,094,000
3,094,000
4,644,000
4,294,000
4,294,000
% Dbt Svc capacity used for PSP
100%
100%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
142,791
142,791
-
-
-
-
30
Apparatus & equip
29,932,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
31
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
35
Project Expenditures Total
158,836,439
1,847,199
43,982,359
42,013,582
44,673,292
2,404,663
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
36
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
59,321,127
750,000
750,000
1,500,000
1,500,000
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
39
Utility Fds pay rent = 50% of dbt svc
(22,319,868)
(375,000)
(375,000)
(562,500)
(562,500)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
40
GF Debt Service Total
37,001,259
-
375,000
375,000
937,500
937,500
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
41
Expense Total
195,837,699
1,847,199
44,357,359
42,388,582
45,610,792
3,342,163
2,586,922
2,510,878
4,600,420
2,388,153
2,418,378
2,809,675
4,713,182
5,515,963
3,610,601
3,600,809
4,869,354
2,892,078
42
48
Annual Surplus (Shortfall)
5,939,046
211,793
(15,019,359)
(513,536)
(20,579,792)
628,837
4,344,078
(579,878)
(2,032,420)
705,847
675,622
284,325
(1,619,182)
(2,421,963)
(516,601)
1,043,191
(575,354)
1,401,922
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
21,705,561
21,192,025
612,232
1,241,069
5,585,147
5,005,269
2,972,849
3,678,696
4,354,318
4,638,643
3,019,461
597,498
80,897
1,124,089
548,734
50
Ending Carryover (Shortfall)
5,939,046
36,724,920
21,705,561
21,192,025
612,232
1,241,069
5,585,147
5,005,269
2,972,849
3,678,696
4,354,318
4,638,643
3,019,461
597,498
80,897
1,124,089
548,734
1,950,656
W
6/1/2018
Scenario C2-20yr a 1 of 2
W
N
PUBLIC SAFETY PLAN - Financial Framework, Scenario C2 - 20 Year Debt
6/1/2018
Scenario C2-20yr a 2 of 2
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
1
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
(44,509)
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance
1,500,000
1,000,000
500,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19
Additional capacity from maturing,
existing debt
1,994,000
1,129,500
1,058,800
1,058,800
960,600
23
Revenue Total
4,294,000
2,929,500
2,358,800
1,858,800
1,760,600
800,000
800,000
800,000
800,000
800,000
800,000
800,000
800,000
(44,509)
-
-
-
24
% Dbt Svc capacity used for PSP
50%
40%
40%
30%
30%
30%
30%
30%
30%
30%
30%
30%'
30%
30%,
30%
30%
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
3,667,573
243,009
609,751.
712,979
-
0
0
0
0
0
0
0
0
0
0
0
0
31
Shops
35
Project Expenditures Total
3,667,573
243,009
609,751
712,979
-
-
-
-
-
-
-
-
-
-
-
-
-
36
37
Debt Service
38
Debt service LTGO
3,232,829
3,232,829
3,232,829
3,232,829
1,547,932
1,547,932
-
-
-
-
-
-
-
-
-
-
-
39
Utility Fds pay rent = 50% of dbt svc
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(386,983)
(386,983)-
-
-
-
-
-
-
-
-
40
GF Debt Service Total
2,003,398
2,003,398
2,003,398
2,003,398
1,160,949
1,160,949
-
-
-
-
-
-
-
-
-
-
41
Expense Total
5,670,971
2,246,406
2,613,149
2,716,376
1,160,949
1,160,949
-
-
-
-
-
-
-
-
-
-
-
42
[
I
48
Annual Surplus (Shortfall) (1,376,971)
683,094
(254,349)
(857,576)
599,651
(360,949)
800,000
800,000
800,000
800,000
800,000
800,000
800,000
(44,509)
-
-
-
49
Beginning Carryover (Shortfall)
1,950,656
573,685
1,256,779
1,002,430
144,854
744,504
383,555
1,183,555
1,983,555
2,783,555
3,583,555
4,383,555
5,183,555
5,983,555
5,939,046
5,939,046
5,939,046
50
Ending Carryover (Shortfall)
573,685
1,256,779
1,002,430
144,854
744,504
383,555
1,183,555
1,983,555
2,783,555
3,583,555
4,383,555
5,183,555
5,983,555
5,939,046
5,939,046
5,939,046
5,939,046
6/1/2018
Scenario C2-20yr a 2 of 2
W
-P
PUBLIC SAFETY PLAN - Financial Framework, Scenario C2 - 30 Year Debt
W
01
6/1/2018
Scenario C2-30yr 1 of 2
B
D
F
G
H
1
J
K
L
M
N
O
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032 i
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
40,000,000
20,000,000
20,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
10,917,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
16,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
283,709
283,709
-
-
-
-
19
Additional capacity from maturing,
existing debt
40,466,900
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
209,048,454
2,058,992
29,338,000
41,875,046
25,031,000
3,971,000
6,931,000
1,931,000
2,568,000
3,094,000
3,094,000
3,094,000
3,094,000
3,094,000
3,094,000
3,144,000
2,794,000
2,794,000
% Dbt Svc capacity used for PSP
100%
100%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
142,791
142,791
-
-
-
-
30
Apparatus & equip
29,932,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
31
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
35
Project Expenditures Total
158,836,439
1,847,199
43,982,359
42,013,582
44,673,292
2,404,663
583,525
507,480
2,597,023
384,755
414,980
806,277
2,709,784
3,512,566
1,607,204
1,597,411
2,865,957
888,681
36
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
70,942,304
800,000
800,000
1,600,000
1,600,000
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
39
Utility Fds pay rent = 50% of dbt svc
(26,669,335)
(400,000)
(400,000)
(600,000)
(600,000)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
40
GF Debt Service Total
44,272,969
-
400,000
400,000
1,000,000
1,000,000
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
41
Expense Total
203,109,408
1,847,199
44,382,359
42,413,582
45,673,292
3,404,663
2,109,393
2,033,348
4,122,891
1,910,624
1,940,849
2,332,146
4,235,653
5,038,434
3,133,072
3,123,279
4,391,825
2,414,549
42
48
Annual Surplus (Shortfall)
5,939,046
211,793
(15,044,359)
(538,536)
(20,642,292)
566,337
4,821,607
(102,348)
(1,554,891)
1,183,376
1,153,151
761,854
(1,141,653)
(1,944,434)
(39,072)
20,721
(1,597,825)
379,451
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
21,680,561
21,142,025
499,732
1,066,069
5,887,676
5,785,328
4,230,436
5,413,813
6,566,964
7,328,818
6,187,165
4,242,731
4,203,659
4,224,380
2,626,555
50
Ending Carryover (Shortfall)
5,939,046
36,724,920
21,680,561
21,142,025
499,732
1,066,069
5,887,676
5,785,328
4,230,436
5,413,813
6,566,964
7,328,818
6,187,165
4,242,731
4,203,659
4,224,380
2,626,555
3,006,005
W
01
6/1/2018
Scenario C2-30yr 1 of 2
W
0)
PUBLIC SAFETY PLAN - Financial Framework, Scenario C2 - 30 Year Debt
W
6/1/2018
Scenario C2-30yr 2 of 2
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
1
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
i
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
19
Additional capacity from maturing,
existing debt
1,994,000
1,129,500
1,058,800
1,058,800
960,600
960,600
960,600
960,600
960,600
960,600
960,600
960,600
960,600
960,600
960,600
960,600
960,600
23
Revenue Total
2,794,000
1,929,500
1,858,800
1,858,800
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
1,760,600
% Dbt Svc capacity used for PSP
50%
40%.
40%
30%
30%
30%
30%
30%;
30%
30%
30%
30%
30%
30%:
30%
30%
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
3,667,573
243,009
609,751
712,979
-
0
0
0
0
0
0
0
0
0
0
0
0
31
Shops
35
Project Expenditures Total
3,667,573
243,009
609,751
712,979
-
-
-
-
-
-
-
-
-
-
-
-
-
36
37
Debt Service
38
Debt service LTGO
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
1,200,260
1,200,260
-
39
Utility Fds pay rent = 50% of dbt svc
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(300,065)
(300,065)
-
40
GF Debt Service Total
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
900,195
900,195
-
41
Expense Total
5,193,442
1,768,877
2,135,620
2,238,847
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
900,195
900,195
-
42
48
Annual Surplus (Shortfall) (2,399,442)
160,623
(276,820)
(380,047)
234,732
234,732
234,732
234,732
234,732
234,732
234,732
234,732
234,732
234,732
860,405
860,405
1,760,600
49
Beginning Carryover (Shortfall)
3,006,005
606,564
767,187
490,367
110,320
345,051
579,783
814,514
1,049,246
1,283,977
1,518,709
1,753,441
1,988,172
2,222,904
2,457,635
3,318,041
4,178,446
50
Ending Carryover (Shortfall)
606,564
767,187
490,367
110,320
345,051
579,783
814,514
1,049,246
1,283,977
1,518,709
1,753,441
1,988,172
2,222,904
2,457,635
3,318,041
4,178,446
5,939,046
W
6/1/2018
Scenario C2-30yr 2 of 2
W
CO
PUBLIC SAFETY PLAN - Financial Framework - Scenario D - 20 Year Debt
1
B
D
TOTAL
F
2017
G
2018
H
i 2019
1
2020
J
2021
K
2022
L
2023
M
2024
N
2025
0
2026
P
i 2027
Q
2028
R
2029
S
2030
T
2031
U
2032
V
i 2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
40,000,000
20,000,000
20,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
8,517,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
12,813,091
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
6,783,709
283,709
-
-
-
-
-
-
-
-
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
500,000
-
19
Additional capacity from maturing,
existing debt
14,858,560
831,000
831,000
498,600
498,600
880,800
1,196,400
717,840
717,840
717,840
717,840
717,840
717,840
717,840
717,840
23
Revenue Total
183,853,205
2,058,992
29,338,000
41,875,046
25,031,000
3,971,000
6,598,600
1,598,600
1,980,800
2,296,400
2,817,840
2,817,840
2,817,840
2,817,840
2,817,840
2,867,840
2,017,840
1,517,840
% Dbt Svc capacity used for PSP
100%
60%
60%
60%
60%
60%
60%
60%
60%
60%
60%
60%
60%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
142,791
142,791
-
-
-
-
30
Apparatus & equip
15,000,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
31
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
35
Project Expenditures Total
143,904,439
1,847,199
43,982,359
42,013,582
44,673,292
2,404,663
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
-
-
-
-
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
59,321,127
750,000
750,000
1,500,000
1,500,000
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
3,232,829
39
Utility Fds pay rent = 50% of dbt svc
(22,319,868)
(375,000)
(375,000)
(562,500)
(562,500)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
40
GF Debt Service Total
37,001,259
-
375,000
375,000
937,500
937,500
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
2,003,398
41
Expense Total
180,905,699
1,847,199
44,357,359
42,388,582
45,610,792
3,342,163
2,586,922
2,510,878
2,600,420
3,388,153
3,418,378
2,809,675
4,713,182
2,776,528
2,003,398
2,003,398
2,003,398
2,003,398
42
48
Annual Surplus (Shortfall)
2,947,506
211,793
(15,019,359)
(513,536)
(20,579,792)
628,837
4,011,678
(912,278)
(619,620)
(1,091,753)
(600,538)
8,165
(1,895,342)
41,312
814,442
864,442
14,442
(485,558)
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
21,705,561
21,192,025
612,232
1,241,069
5,252,747
4,340,469
3,720,849
2,629,096
2,028,558
2,036,723
141,381
182,694
997,136
1,861,579
1,876,021
50
Ending Carryover (Shortfall)
2,947,506
36,724,920
21,705,561
21,192,025
612,232
1,241,069
5,252,747
4,340,469
3,720,849
2,629,096
2,028,558
2,036,723
141,381
182,694
997,136
1,861,579
1,876,021
1,390,464
6/1/2018
Scenario D-20yr a 1 of 2
4
O
PUBLIC SAFETY PLAN - Financial Framework - Scenario D - 20 Year Debt
1
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
313,091
17
Investment earnings
18
Annual contribution to balance-
-
19
Additional capacity from maturing,
existing debt
717,840
903,600
1,058,800
1,058,800
640,400
23
Revenue Total
1,517,840
1,703,600
1,858,800
1,858,800
1,440,400
800,000
800,000
800,000
800,000
313,091
-
-
--
-
-
-
% Dbt Svc capacity used for PSP
60%
40%
40%
30%
20%
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
0
0
0
0
0
0
0
0
0
0
0
0
0
31
Shops
35
Project Expenditures Total
--
-
-
-
-
-
-
-
-
-
-
-
-
-
-
37
Debt Service
38
Debt service LTGO
3,232,829
3,232,829
3,232,829
3,232,829
1,547,932
1,547,932
-
-
-
-
-
-
-
-
-
-
-
39
Utility Fds pay rent = 50% of dbt svc
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(386,983)
(386,983)
-
-
-
-
-
-
-
-
-
-
-
40
GF Debt Service Total
2,003,398
2,003,398
2,003,398
2,003,398
1,160,949
1,160,949
-
-
-
-
-
-
-
-
-
-
-
41
Expense Total
2,003,398
2,003,398
2,003,398
2,003,398
1,160,949
1,160,949
-
-
-
--
-
-
-
-
-
-
42
48
Annual Surplus (Shortfall) (485,558)
(299,798)
(144,598)
(144,598)
279,451
(360,949)
800,000
800,000
800,000
313,091
-
-
-
-
-
-
-
49
Beginning Carryover (Shortfall)
1,390,464
904,906
605,109
460,511
315,913
595,364
234,415
1,034,415
1,834,415
2,634,415
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
50
Ending Carryover (Shortfall)
904,906
605,109
460,511
315,913
595,364
234,415
1,034,415
1,834,415
2,634,415
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
2,947,506
6/1/2018
Scenario D-20yr a 2 of 2
N
PUBLIC SAFETY PLAN - Financial Framework, Scenario D - 30 Year Debt
1
B
D
TOTAL
F
2017
G
2018
H
i 2019
I
2020
J
2021
K
2022
L
2023
M
2024
N
2025
0
2026
P
i 2027
Q
2028
R
2029
S
2030
T
2031
U
2032
V
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
40,000,000
20,000,000
20,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
10,917,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
16,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
283,709
283,709
19
Additional capacity from maturing,
existing debt
22,543,360
831,000
831,000
498,600
498,600
880,800
1,196,400
717,840
717,840
717,840
717,840
717,840
717,840
717,840
717,840
20
Revenue Summary:
21
JC/Fire Revenue -restricted
93,052,000
1,517,000
600,000
41,275,046
600,000 '
600,000
600,000
600,000
600,000
600,000
600,000
600,000
600,000
600,000
600,000
650,000
300,000
300,000
22
Shops/other revenue -unrestricted
98,072,914
541,992
28,738,000
600,000
24,431,000
3,371,000
5,998,600
998,600
1,380,800
1,696,400
1,217,840
1,217,840
1,217,840
1,217,840
1,217,840
1,217,840
1,217,840
1,217,840
23
Revenue Total
191,124,914
2,058,992
29,338,000
41,875,046
25,031,000
3,971,000
6,598,600
1,598,600
1,980,800
2,296,400
1,817,840
1,817,840
1,817,840
1,817,840
1,817,840
1,867,840
1,517,840
1,517,840
% Dbt Svc capacity used for PSP
100%
60%
60%
60%
60%
60%
60%
60%
60%
60%
60%
60%
60%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
142,791
142,791
-
-
-
-
30
Apparatus & equip
15,000,000
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
31
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
35
Project Expenditures Total
143,904,439
1,847,199
43,982,359
42,013,582
44,673,292
2,404,663
583,525
507,480
597,023
1,384,755
1,414,980
806,277
2,709,784
773,130
-
-
-
-
36
37
Debt Service
interest only
interest only
interest only
interest only
full DS
38
Debt service LTGO
70,942,304
800,000
800,000
1,600,000
1,600,000
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
39
Utility Fds pay rent = 50% of dbt svc
(26,669,335)
(400,000)
(400,000)
(600,000)
(600,000)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
40
GF Debt Service Total
44,272,969
-
400,000
400,000
1,000,000
1,000,000
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
41
Expense Total
188,177,408
1,847,199
44,382,359
42,413,582
45,673,292
3,404,663
2,109,393
2,033,348
2,122,891
2,910,624
2,940,849
2,332,146
4,235,653
2,298,998
1,525,868
1,525,868
1,525,868
1,525,868
42
48
Annual Surplus (Shortfall)
2,947,506
211,793
(15,044,359)
(538,536)
(20,642,292)
566,337
4,489,207
(434,748)
(142,091)
(614,224)
(1,123,009)
(514,306)
(2,417,813)
(481,158)
291,972
341,972
(8,028)
(8,028)
49
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
21,680,561
21,142,025
499,732
1,066,069
5,555,276
5,120,528
4,978,436
4,364,213
3,241,204
2,726,898
309,085
(172,073)
119,898
461,870
453,841
50
Ending Carryover (Shortfall)
2,947,506
36,724,920
21,680,561
21,142,025
499,732
1,066,069
5,555,276
5,120,528
4,978,436
4,364,213
3,241,204
2,726,898
309,085
(172,073)
119,898
461,870
453,841
445,813
GJ
6/1/2018
Scenario D-30yr 1 of 2
-P
PUBLIC SAFETY PLAN - Financial Framework, Scenario D - 30 Year Debt
1
B
W
2034
X
2035
Y
2036
Z
2037
AA
2038
AB
2039
AC
2040
E
AD
2041
AE
2042
AF
2043
AG
2044
AH
2045
Al
2046
AJ
2047
AK
2048
.
AL
2049
AM
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance
--
-
-
-
-
-
-
19
Additional capacity from maturing,
existing debt
717,840
903,600
1,058,800
1,058,800
640,400
640,400
640,400
640,400
640,400
640,400
640,400
640,400
640,400
640,400
640,400
640,400
640,400
20
Revenue Summary:
21
JC/Fire Revenue -restricted
300,000
300,000
300,000.
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000 ;
300,000
300,000
300,000
300,000
300,000
300,000
22
Shops/other revenue -unrestricted
1,217,840
1,403,600
1,558,800
1,558,800
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
1,140,400
23
Revenue Total
1,517,840
1,703,600
1,858,800
1,858,800
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
1,440,400
% Dbt Svc capacity used for PSP
60%
40%
40%
30%
20%
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
0
0
0
0
0
0
0
0
0
0
0
0
0
31
Shops
35
Project Expenditures Total
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
36
37
Debt Service
38
Debt service LTGO
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
2,451,607
1,200,260
1,200,260
-
39
Utility Fds pay rent = 50% of dbt svc
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(300,065)
(300,065)
-
40
GF Debt Service Total
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
900,195
900,195
-
41
Expense Total
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
1,525,868
900,195
900,195
-
42
48
Annual Surplus (Shortfall) (8,028)
177,732
332,932
332,932
(85,468)
(85,468)
(85,468)
(85,468)
(85,468)
(85,468)
(85,468)
(85,468)
(85,468)
(85,468)
540,205
540,205
1,440,400
49
Beginning Carryover (Shortfall)
445,813
437,785
615,516
948,448
1,281,379
1,195,911
1,110,442
1,024,974
939,506
854,037
768,569
683,100
597,632
512,163
426,695
966,900
1,507,106
50
Ending Carryover (Shortfall)
437,785
615,516
948,448
1,281,379
1,195,911
1,110,442
1,024,974
939,506
854,037
768,569
683,100
597,632
512,163
426,695
966,900
1,507,106
2,947,506
6/1/2018
Scenario D-30yr 2 of 2
a)
PUBLIC SAFETY PLAN - Financial Framework, Scenario E - C1 20 Year Debt with Apparatus Financed
1
B
D
TOTAL
F
2017
G
2018
H
2019
I
2020
J
2021
K
2022 •
L
2023
M
2024
N
2025
0
2026
P
2027
Q
2028
R
2029
S
2030
T
2031
U
2032
V
i 2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
55,000,000
20,000,000
35,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
9,417,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
14,281,724
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
12,283,709
283,709
-
-
-
-
-
-
-
-
1,000,000
1,000,000
1,000,000
1,000,000
1,000,000
500,000
500,000
1,000,000
19
Additional capacity from maturing,
existing debt
31,710,500
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
223,573,778
2,058,992
24,300,000
46,913,046
40,031,000
3,971,000
6,931,000
1,931,000
2,568,000
3,094,000
4,094,000
4,094,000
4,094,000
4,094,000
4,094,000
3,644,000
3,294,000
3,794,000
% Dbt Svc capacity used for PSP
100%
100%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
14,763,378
142,791
1,554,000
1,978,000
10,274,000
814,587
30
Apparatus & equip
10,075,304
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
287,091
384,755
414,980
806,277
109,936
758,212
31
Apparatus financing
5,750,493
270,250
270,250
270,250
270,250
270,250
575,049
575,049
575,049
575,049
575,049
32
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
36
Project Expenditures Total
159,350,823
1,847,199
45,536,359
43,991,582
54,947,292
3,219,250
583,525
507,480
557,341
655,005
685,230
1,076,527
380,186
1,333,262
575,049
575,049
575,049
575,049
38
Debt Service
interest only
interest only
interest only
interest only
full DS
39
Debt service LTGO
81,343,214
750,000
750,000
2,062,500
2,062,500
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
4,393,778
40
Utility Fds pay rent = 50% of dbt svc
(22,319,868)
(375,000)
(375,000)
(562,500)
(562,500)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
41
GF Debt Service Total
59,023,346
-
375,000
375,000
1,500,000
1,500,000
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
3,164,347
42
Expense Total
218,374,169
1,847,199
45,911,359
44,366,582
56,447,292
4,719,250
3,747,872
3,671,827
3,721,688
3,819,352
3,849,577
4,240,874
3,544,533
4,497,608
3,739,396
3,739,396
3,739,396
3,739,396
43
49
Annual Surplus (Shortfall)
5,199,609
211,793
(21,611,359)
2,546,464
(16,416,292)
(748,250)
3,183,128
(1,740,827)
(1,153,688)
(725,352)
244,423
(146,874)
549,467
(403,608)
354,604
(95,396)
(445,396)
54,604
50
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
15,113,560
17,660,024
1,243,732
495,482
3,678,610
1,937,783
784,095
58,743
303,166
156,292
705,758
302,150
656,754
561,358
115,962
51
Ending Carryover (Shortfall)
5,199,609
36,724,920
15,113,560
17,660,024
1,243,732
495,482
3,678,610
1,937,783
784,095
58,743
303,166
156,292
705,758
302,150
656,754
561,358
115,962
170,566
6/1/2018
Scenario E - 20yr final 1 of 2
co
PUBLIC SAFETY PLAN - Financial Framework, Scenario E - C1 20 Year Debt with Apparatus Financed
6/1/2018
Scenario E - 20yr final 2 of 2
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
1
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
281,724
17
Investment earnings
18
Annual contribution to balance
1,000,000
1,300,000
1,300,000
1,300,000
100,000
-
19
Additional capacity from maturing,
existing debt
1,994,000
1,129,500
1,323,500
1,323,500
1,601,000
1,601,000
-
-
-
-
-
-
-
-
-
-
-
23
Revenue Total
3,794,000
3,229,500
3,423,500
3,423,500
2,501,000
2,401,000
800,000
800,000
800,000
800,000
800,000
800,000
281,724
-
-
-
-
% Dbt Svc capacity used for PSP
50%
50%!
50%
50%
0%
0%;
0%
0%;
0%
0%
0%
0%:,0%
0%
0%
0%
24
25
Project Expenditures
26
Justice Center
27
FS51
28
FS 52
29
FS 54
30
Apparatus & equip
0
0
0
0
0
0
0
31
Apparatus financing
304,799
304,799
304,799
304,799
304,799
32
Shops
36
Project Expenditures Total
304,799
304,799
304,799
304,799
304,799
--
-
-
-
-
-
-
-
-
-
-
38
Debt Service
39
Debt service LTGO
4,393,778
4,393,778
4,393,778
4,393,778
2,708,882
2,708,882
-
-
-
-
-
-
-
-
-
-
-
40
Utility Fds pay rent = 50% of dbt svc
(1,229,431)
(1,229,431)
(1,229,431)
(1,229,431)
(386,983)
(386,983)-
-
-
-
-
-
-
-
-
-
-
41
GF Debt Service Total
3,164,347
3,164,347
3,164,347
3,164,347
2,321,899
2,321,899
-
-
-
-
-
-
-
-
-
-
-
42
Expense Total
3,469,146
3,469,146
3,469,146
3,469,146
2,626,698
2,321,899
-
-
-
-
--
-
-
-
-
-
43
,
49
Annual Surplus (Shortfall) 324,854
(239,646)
(45,646)
(45,646)
(125,698)
79,101
800,000
800,000
800,000
800,000
800,000
800,000
281,724
-
-
-
-
50
Beginning Carryover (Shortfall)
170,566
495,420
255,773
210,127
164,481
38,783
117,885
917,885
1,717,885
2,517,885
3,317,885
4,117,885
4,917,885
5,199,609
5,199,609
5,199,609
5,199,609
51
Ending Carryover (Shortfall)
495,420
255,773
210,127
164,481
38,783
117,885
917,885
1,717,885
2,517,885
3,317,885
4,117,885
4,917,885
5,199,609
5,199,609
5,199,609
5,199,609
5,199,609
6/1/2018
Scenario E - 20yr final 2 of 2
01
O
PUBLIC SAFETY PLAN - Financial Framework, Scenario E - C1 30 Year Debt with Apparatus Financed
C31
6/1/2018
Scenario E - 30yr final 1 of 2
B
D
F
G
H
I
J
K
L
M
N
0
P
Q
R
S
T
U
V
1
TOTAL
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
2033
8
Revenues:
9
UTGO bond proceeds, Voted
77,385,000
40,675,046
10
LTGO bond proceeds, Councilmanic
55,000,000
20,000,000
35,000,000
11
Fire Impact fees & deposit - Segale
4,750,000
500,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
350,000
12
Fire Impact fees - other
10,917,000
1,017,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
3,000,000
3,000,000
14
Property/land sales
15,038,000
5,038,000
3,000,000
2,000,000
5,000,000
15
REET 1
16,500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
707,845
258,283
200,000
100,000
100,000
40,000
18
Annual contribution to balance
283,709
283,709
19
Additional capacity from maturing,
existing debt
51,647,296
831,000
831,000
831,000
831,000
1,468,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
1,994,000
23
Revenue Total
235,228,850
2,058,992
24,300,000
46,913,046
40,031,000
3,971,000
6,931,000
1,931,000
2,568,000
3,094,000
3,094,000
3,094,000
3,094,000
3,094,000
3,094,000
3,144,000
2,794,000
2,794,000
% Dbt Svc capacity used for PSP
100%
100%
24
25
Project Expenditures
26
Justice Center
68,570,005
431,266
17,890,500
26,694,000
23,430,406
-
-
-
27
FS 51
12,540,338
254,484
1,385,000
8,725,500
2,115,501
-
28
FS 52
17,651,306
161,299
890,000
2,512,000
13,046,000
1,033,751
-
-
29
FS 54
14,763,378
142,791
1,554,000
1,978,000
10,274,000
814,587
30
Apparatus & equip
10,075,304
573,651
4,455,859
540,082
362,385
276,621
583,525
507,480
287,091
384,755
414,980
806,277
109,936
758,212
31
Apparatus financing
5,750,493
270,250
270,250
270,250
270,250
270,250
575,049
575,049
575,049
575,049
575,049
32
Shops
30,000,000
283,709
19,361,000
3,542,000
5,719,000
1,094,291
-
36
Project Expenditures Total
159,350,823
1,847,199
45,536,359
43,991,582
54,947,292
3,219,250
583,525
507,480
557,341
655,005
685,230
1,076,527
380,186
1,333,262
575,049
575,049
575,049
575,049
37
38
Debt Service
interest only
interest only
interest only
interest only
full DS
39
Debt service LTGO
97,347,754
800,000
800,000
2,200,000
2,200,000
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
40
Utility Fds pay rent = 50% of dbt svc
(26,669,335)
(400,000)
(400,000)
(600,000)
(600,000)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
41
GF Debt Service Total
70,678,418
-
400,000
400,000
1,600,000
1,600,000
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
42
Expense Total
230,029,241
1,847,199
45,936,359
44,391,582
56,547,292
4,819,250
3,009,588
2,933,543
2,983,404
3,081,068
3,111,293
3,502,590
2,806,249
3,759,325
3,001,112
3,001,112
3,001,112
3,001,112
43
49
Annual Surplus (Shortfall)
5,199,609
211,793
(21,636,359)
2,521,464
(16,516,292)
(848,250)
3,921,412
(1,002,543)
(415,404)
12,932
(17,293)
(408,590)
287,751
(665,325)
92,888
142,888
(207,112)
(207,112)
50
Beginning Carryover (Shortfall)
-
36,513,127
36,724,920
15,088,560
17,610,024
1,093,732
245,482
4,166,894
3,164,351
2,748,946
2,761,878
2,744,585
2,335,994
2,623,745
1,958,420
2,051,308
2,194,196
1,987,083
51
Ending Carryover (Shortfall)
5,199,609
36,724,920
15,088,560
17,610,024
1,093,732
245,482
4,166,894
3,164,351
2,748,946
2,761,878
2,744,585
2,335,994
2,623,745
1,958,420
2,051,308
2,194,196
1,987,083
1,779,971
C31
6/1/2018
Scenario E - 30yr final 1 of 2
01
N
PUBLIC SAFETY PLAN - Financial Framework, Scenario E - C1 30 Year Debt with Apparatus Financed
6/1/2018
Scenario E - 30yr final 2 of 2
B
W
X
Y
Z
AA
AB
AC
AD
AE
AF
AG
AH
Al
AJ
AK
AL
AM
1
2034
2035
2036
2037
2038
2039
2040
2041
2042
2043
2044
2045
2046
2047
2048
2049
2050
8
Revenues:
9
UTGO bond proceeds, Voted
10
LTGO bond proceeds, Councilmanic
11
Fire Impact fees & deposit - Segale
12
Fire Impact fees - other
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
300,000
13
F301, Lnd & Prk Acq contribution
14
Property/land sales
15
REET 1
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
500,000
17
Investment earnings
18
Annual contribution to balance-
-
-
19
Additional capacity from maturing,
existing debt
1,994,000
1,129,500
1,588,200
1,588,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,921,200
1,476,196
23
Revenue Total
2,794,000
1,929,500
2,388,200
2,388,200
2,721,200
2,721,200
2,721,200
2,721,200
r
2,721,200
2,721,200
2,721,200
2,721,200
2,721,200
2,721,200
2,721,200
2,276,196
800,000
% Dbt Svc capacity used for PSP
50%
60%i
60%
60%
50%
50%,
50%
50%
50%
50%€
50%
50%E
50%
50%
50%
50%
24
25
Project Expenditures
26
Justice Center
27
FS 51
28
FS 52
29
FS 54
30
Apparatus & equip
0
0
0
0
0
0
0
31
Apparatus financing
304,799
304,799
304,799
304,799
304,799
32
Shops
36
Project Expenditures Total
304,799
304,799
304,799
304,799
304,799
-
-
-
-
-
-
-
-
-
-
-
-
37
38
Debt Service
39
Debt service LTGO
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
3,351,802
2,100,454
2,100,454
-
40
Utility Fds pay rent = 50% of dbt svc
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(925,739)
(300,065)
(300,065)
-
41
GF Debt Service Total
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
1,800,389
1,800,389
-
42
Expense Total
2,730,862
2,730,862
2,730,862
2,730,862
2,730,862
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
2,426,063
1,800,389
1,800,389
-
43
49
Annual Surplus (Shortfall) 63,138
(801,362)
(342,662)
(342,662)
(9,662)
295,137
295,137
295,137
295,137
295,137
295,137
295,137
295,137
295,137
920,811
475,807
800,000
50
Beginning Carryover (Shortfall)
1,779,971
1,843,109
1,041,746
699,084
356,421
346,759
641,896
937,033
1,232,170
1,527,307
1,822,444
2,117,581
2,412,718
2,707,855
3,002,992
3,923,802
4,399,609
51
Ending Carryover (Shortfall)
1,843,109
1,041,746
699,084
356,421
346,759
641,896
937,033
1,232,170
1,527,307
1,822,444
2,117,581
2,412,718
2,707,855
3,002,992
3,923,802
4,399,609
5,199,609
6/1/2018
Scenario E - 30yr final 2 of 2
01
-P
GENERAL FUND BASELINE
A
B
C
D
E
F
G
H
1
General Fund Budget Projections - Tukwila - 2018 - 2024
Revenues
General Fund Revenues
TAXES
2018
Budget
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2
3
4
5
6
SALES TAX
19,475,000
20,059,250
20,661,028
21,280,858
21,919,284
22,576,863
23,254,168
7
PROPERTY TAX
15,279,302
15,584,888
15,896,586
16,214,518
16,538,808
16,869,584
17,206,976
8
BUSINESS TAX
11,229,927
11,521,339
11,818,769
12,145,985
12,479,787
12,802,514
13,132,498
9
Total TAXES
45,984,229
47,165,477
48,376,382
49,641,360
50,937,879
52,248,960
53,593,642
10
CHARGES FOR SERVICES
3,275,080
3,319,185
3,379,544
3,452,699
3,508,963
3,563,516
3,610,393
11
OTHER INCOME
587,194
599,583
606,380
618,698
629,579
644,462
655,790
12
Licenses & Permits
4,409,090
4,384,780
4,453,059
4,530,979
4,593,484
4,656,958
4,721,418
13
TRANSFERS
2,325,643
2,372,156
2,419,599
2,467,991
4,793,351
2,567,698
2,619,052
14
INTERGOVERNMENTAL REVENUE
4,418,875
4,149,227
3,333,627
3,360,721
3,387,685
3,403,779
3,431,274
15
Fines & Penalties
244,129
246,570
247,803
252,759
254,023
256,563
257,846
16
Total General Fund Revenues
61,244,240
62,236,978
62,816,394
64,325,207
68,104,964
67,341,937
68,889,415
17
18
Expenses
19
General Fund Expenditures
20
Salaries & Benefits
42,943,061
44,067,865
45,224,861
46,754,266
48,355,189
50,031,977
51,789,287
21
OPERATIONS
16,051,952
16,199,599
16,140,253
16,504,666
16,412,203
16,803,217
16,915,861
22
TRANSFERS
23
TRANSFER OUT
24
DEBT SERVICE
25
TRANSFERS OUT -FUND 208
246,000
0
0
0
0
0
0
26
TRANSFER OUT -FUND 217
549,250
548,700
545,300
546,300
551,500
545,900
0
27
TRANSFER OUT -FUND 200
690,000
711,956
709,591
711,577
2,995,144
652,634
649,246
28
TRANSFERS OUT -FUND 218
113,130
113,130
113,130
113,130
113,130
0
0
29
TRANSFER OUT -FUND 211
809,100
810,900
0
0
0
0
0
30
TRANSFER OUT -FUND 209
672,000
557,700
558,250
553,500
553,600
558,400
557,750
31
TRANSFER OUT -FUND 214
519,100
517,500
515,068
516,637
515,814
514,462
517,583
32
Total DEBT SERVICE
3,598,580
3,259,886
2,441,339
2,441,144
4,729,188
2,271,396
1,724,579
33
Other
369,041
355,000
355,000
355,000
355,000
355,000
300,000
34
Total TRANSFER OUT
3,967,621
3,614,886
2,796,339
2,796,144
5,084,188
2,626,396
2,024,579
35
Total TRANSFERS
3,967,621
3,614,886
2,796,339
2,796,144
5,084,188
2,626,396
2,024,579
36
Unallocated Budget Adjustment EOM
(1,770,750)
(2,250,000)
(2,250,000)
(2,250,000)
(2,250,000)
(2,500,000)
(2,500,000)
37
Total General Fund Expenditures
61,191,884
61,632,351
61,911,453
63,805,076
67,601,580
66,961,591
68,229,727
38
39
Operating Results
40
Net Operating Result
52,356
604,628
904,942
520,131
503,384
380,346
659,688
41
Capital Inflows
3,800,000
0
0
0
0
0
0
42
Capital Outflows
43
CAPITAL
30,000
0
0
0
0
0
0
44
TRANSFERS
45
TRANSFER OUT
46
Capital
47
000.20.597.303.00 - TRANSFER OUT -FUND 303
200,000
300,000
300,000
300,000
300,000
300,000
300,000
48
000.20.597.301.00 - TRANSFERS -OUT FUND 301
122,000
0
0
0
0
0
0
49
000.20.597.103.00 - TRANSFER OUT -FUND 103
0
100,000
465,000
465,000
465,000
465,000
465,000
50
000.20.597.104.00 - TRANSFER OUT -FUND 104
2,460,000
500,000
2,279,000
2,931,000
2,065,000
1,500,000
1,500,000
51
Total Capital
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
52
Total TRANSFER OUT
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
53
Total TRANSFERS
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
54
Total Capital Outflows
2,812,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
55
56
Fund Balance
57
Starting Fund Balance
12,795,650
13,836,006
13,540,634
11,401,576
8,225,707
5,899,090
4,014,437
58
Surplus/Deficit
1,040,356
(295,372)
(2,139,058)
(3,175,869)
(2,326,616)
(1,884,654)
(1,605,312)
59
Ending Fund Balance
13,836,006
13,540,634
11,401,576
8,225,707
5,899,090
4,014,437
2,409,124
60
01
CD
SCENARIO A - 20 YEAR
A
B
C
D
E
F
G
H
1
General Fund Budget Projections - Tukwila - 2018 - 2024
Revenues
General Fund Revenues
TAXES
2018
Budget
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2
3
4
5
6
SALES TAX
19,475,000
20,059,250
20,661,028
21,280,858
21,919,284
22,576,863
23,254,168
7
PROPERTY TAX
15,279,302
15,584,888
15,896,586
16,214,518
16,538,808
16,869,584
17,206,976
8
BUSINESS TAX
11,229,927
11,521,339
11,818,769
12,145,985
12,479,787
12,802,514
13,132,498
9
Total TAXES
45,984,229
47,165,477
48,376,382
49,641,360
50,937,879
52,248,960
53,593,642
10
CHARGES FOR SERVICES
3,275,080
3,319,185
3,379,544
3,452,699
3,508,963
3,563,516
3,610,393
11
OTHER INCOME
587,194
599,583
606,380
618,698
629,579
644,462
655,790
12
Licenses & Permits
4,409,090
4,384,780
4,453,059
4,530,979
4,593,484
4,656,958
4,721,418
13
TRANSFERS
2,325,643
2,372,156
2,419,599
2,467,991
4,793,351
2,567,698
2,619,052
14
INTERGOVERNMENTAL REVENUE
4,418,875
4,149,227
3,333,627
3,360,721
3,387,685
3,403,779
3,431,274
15
Fines & Penalties
244,129
246,570
247,803
252,759
254,023
256,563
257,846
16
Total General Fund Revenues
61,244,240
62,236,978
62,816,394
64,325,207
68,104,964
67,341,937
68,889,415
17
18
Expenses
19
General Fund Expenditures
20
Salaries & Benefits
42,943,061
44,067,865
45,224,861
46,754,266
48,355,189
50,031,977
51,789,287
21
OPERATIONS
16,051,952
16,199,599
16,140,253
16,504,666
16,412,203
16,803,217
16,915,861
22
TRANSFERS
23
TRANSFER OUT
24
DEBT SERVICE
25
TRANSFERS OUT -FUND 208
1,246,000
1,000,000
1,831,000
1,831,000
1,831,000
1,831,000
3,968,000
26
TRANSFER OUT -FUND 217
549,250
548,700
545,300
546,300
551,500
545,900
0
27
TRANSFER OUT -FUND 200
690,000
711,956
709,591
711,577
2,995,144
652,634
649,246
28
TRANSFERS OUT -FUND 218
113,130
113,130
113,130
113,130
113,130
0
0
29
TRANSFER OUT -FUND 211
809,100
810,900
0
0
0
0
0
30
TRANSFER OUT -FUND 209
672,000
557,700
558,250
553,500
553,600
558,400
557,750
31
TRANSFER OUT -FUND 214
519,100
517,500
515,068
516,637
515,814
514,462
517,583
32
Total DEBT SERVICE
4,598,580
4,259,886
4,272,339
4,272,144
6,560,188
4,102,396
5,692,579
33
Other
369,041
355,000
355,000
355,000
355,000
355,000
300,000
34
Total TRANSFER OUT
4,967,621
4,614,886
4,627,339
4,627,144
6,915,188
4,457,396
5,992,579
35
Total TRANSFERS
4,967,621
4,614,886
4,627,339
4,627,144
6,915,188
4,457,396
5,992,579
36
Unallocated Budget Adjustment EOM
(1,770,750)
(2,250,000)
(2,250,000)
(2,250,000)
(2,250,000)
(2,500,000)
(2,500,000)
37
Total General Fund Expenditures
62,191,884
62,632,351
63,742,453
65,636,076
69,432,580
68,792,591
72,197,727
38
39
Operating Results
40
Net Operating Result
(947,644)
(395,372)
(926,058)
(1,310,869)
(1,327,616)
(1,450,654)
(3,308,312)
41
3,800,000
0
0
0
0
0
0
42
Capital Outflows
43
CAPITAL
30,000
0
0
0
0
0
0
44
TRANSFERS
45
TRANSFER OUT
46
Capital
47
000.20.597.303.00 - TRANSFER OUT -FUND 303
200,000
300,000
300,000
300,000
300,000
300,000
300,000
48
000.20.597.301.00 - TRANSFERS -OUT FUND 301
122,000
0
0
0
0
0
0
49
000.20.597.103.00 - TRANSFER OUT -FUND 103
0
100,000
465,000
465,000
465,000
465,000
465,000
50
000.20.597.104.00 - TRANSFER OUT -FUND 104
2,460,000
500,000
2,279,000
2,931,000
2,065,000
1,500,000
1,500,000
51
Total Capital
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
52
Total TRANSFER OUT
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
53
Total TRANSFERS
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
54
Total Capital Outflows
2,812,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
55
56
Fund Balance
57
Starting Fund Balance
12,795,650
12,836,006
11,540,634
7,570,576
2,563,707
(1,593,910)
(5,309,563)
58
Surplus/Deficit
40,356
(1,295,372)
(3,970,058)
(5,006,869)
(4,157,616)
(3,715,654)
(5,573,312)
59
Ending Fund Balance
12,836,006
11,540,634
7,570,576
2,563,707
(1,593,910)
(5,309,563)
(10,882,876)
60
01
W
SCENARIO A - 30 YEAR
A
B
C
D
E
F
G
H
1
General Fund Budget Projections - Tukwila - 2018 - 2024
Revenues
General Fund Revenues
TAXES
2018
Budget
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2
3
4
5
6
SALES TAX
19,475,000
20,059,250
20,661,028
21,280,858
21,919,284
22,576,863
23,254,168
7
PROPERTY TAX
15,279,302
15,584,888
15,896,586
16,214,518
16,538,808
16,869,584
17,206,976
8
BUSINESS TAX
11,229,927
11,521,339
11,818,769
12,145,985
12,479,787
12,802,514
13,132,498
9
Total TAXES
45,984,229
47,165,477
48,376,382
49,641,360
50,937,879
52,248,960
53,593,642
10
CHARGES FOR SERVICES
3,275,080
3,319,185
3,379,544
3,452,699
3,508,963
3,563,516
3,610,393
11
OTHER INCOME
587,194
599,583
606,380
618,698
629,579
644,462
655,790
12
Licenses & Permits
4,409,090
4,384,780
4,453,059
4,530,979
4,593,484
4,656,958
4,721,418
13
TRANSFERS
2,325,643
2,372,156
2,419,599
2,467,991
4,793,351
2,567,698
2,619,052
14
INTERGOVERNMENTAL REVENUE
4,418,875
4,149,227
3,333,627
3,360,721
3,387,685
3,403,779
3,431,274
15
Fines & Penalties
244,129
246,570
247,803
252,759
254,023
256,563
257,846
16
Total General Fund Revenues
61,244,240
62,236,978
62,816,394
64,325,207
68,104,964
67,341,937
68,889,415
17
18
Expenses
19
General Fund Expenditures
20
Salaries & Benefits
42,943,061
44,067,865
45,224,861
46,754,266
48,355,189
50,031,977
51,789,287
21
OPERATIONS
16,051,952
16,199,599
16,140,253
16,504,666
16,412,203
16,803,217
16,915,861
22
TRANSFERS
23
TRANSFER OUT
24
DEBT SERVICE
25
TRANSFERS OUT -FUND 208
1,246,000
1,000,000
1,831,000
1,831,000
1,831,000
1,831,000
2,468,000
26
TRANSFER OUT -FUND 217
549,250
548,700
545,300
546,300
551,500
545,900
0
27
TRANSFER OUT -FUND 200
690,000
711,956
709,591
711,577
2,995,144
652,634
649,246
28
TRANSFERS OUT -FUND 218
113,130
113,130
113,130
113,130
113,130
0
0
29
TRANSFER OUT -FUND 211
809,100
810,900
0
0
0
0
0
30
TRANSFER OUT -FUND 209
672,000
557,700
558,250
553,500
553,600
558,400
557,750
31
TRANSFER OUT -FUND 214
519,100
517,500
515,068
516,637
515,814
514,462
517,583
32
Total DEBT SERVICE
4,598,580
4,259,886
4,272,339
4,272,144
6,560,188
4,102,396
4,192,579
33
Other
369,041
355,000
355,000
355,000
355,000
355,000
300,000
34
Total TRANSFER OUT
4,967,621
4,614,886
4,627,339
4,627,144
6,915,188
4,457,396
4,492,579
35
Total TRANSFERS
4,967,621
4,614,886
4,627,339
4,627,144
6,915,188
4,457,396
4,492,579
36
Unallocated Budget Adjustment EOM
(1,770,750)
(2,250,000)
(2,250,000)
(2,250,000)
(2,250,000)
(2,500,000)
(2,500,000)
37
Total General Fund Expenditures
62,191,884
62,632,351
63,742,453
65,636,076
69,432,580
68,792,591
70,697,727
38
39
Operating Results
40
Net Operating Result
(947,644)
(395,372)
(926,058)
(1,310,869)
(1,327,616)
(1,450,654)
(1,808,312)
41
3,800,000
0
0
0
0
0
0
42
Capital Outflows
43
CAPITAL
30,000
0
0
0
0
0
0
44
TRANSFERS
45
TRANSFER OUT
46
Capital
47
000.20.597.303.00 - TRANSFER OUT -FUND 303
200,000
300,000
300,000
300,000
300,000
300,000
300,000
48
000.20.597.301.00 - TRANSFERS -OUT FUND 301
122,000
0
0
0
0
0
0
49
000.20.597.103.00 - TRANSFER OUT -FUND 103
0
100,000
465,000
465,000
465,000
465,000
465,000
50
000.20.597.104.00 - TRANSFER OUT -FUND 104
2,460,000
500,000
2,279,000
2,931,000
2,065,000
1,500,000
1,500,000
51
Total Capital
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
52
Total TRANSFER OUT
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
53
Total TRANSFERS
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
54
Total Capital Outflows
2,812,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
55
56
Fund Balance
57
Starting Fund Balance
12,795,650
12,836,006
11,540,634
7,570,576
2,563,707
(1,593,910)
(5,309,563)
58
Surplus/Deficit
40,356
(1,295,372)
(3,970,058)
(5,006,869)
(4,157,616)
(3,715,654)
(4,073,312)
59
Ending Fund Balance
12,836,006
11,540,634
7,570,576
2,563,707
(1,593,910)
(5,309,563)
(9,382,876)
60
O
O
SCENARIOS C1, C2 - 20 and 30 YR, E - 20 and 30 YR
A
B
C
D
E
F
G
H
1
General Fund Budget Projections - Tukwila - 2018 - 2024
Revenues
General Fund Revenues
TAXES
2018
Budget
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2
3
4
5
6
SALES TAX
19,475,000
20,059,250
20,661,028
21,280,858
21,919,284
22,576,863
23,254,168
7
PROPERTY TAX
15,279,302
15,584,888
15,896,586
16,214,518
16,538,808
16,869,584
17,206,976
8
BUSINESS TAX
11,229,927
11,521,339
11,818,769
12,145,985
12,479,787
12,802,514
13,132,498
9
Total TAXES
45,984,229
47,165,477
48,376,382
49,641,360
50,937,879
52,248,960
53,593,642
10
CHARGES FOR SERVICES
3,275,080
3,319,185
3,379,544
3,452,699
3,508,963
3,563,516
3,610,393
11
OTHER INCOME
587,194
599,583
606,380
618,698
629,579
644,462
655,790
12
Licenses & Permits
4,409,090
4,384,780
4,453,059
4,530,979
4,593,484
4,656,958
4,721,418
13
TRANSFERS
2,325,643
2,372,156
2,419,599
2,467,991
4,793,351
2,567,698
2,619,052
14
INTERGOVERNMENTAL REVENUE
4,418,875
4,149,227
3,333,627
3,360,721
3,387,685
3,403,779
3,431,274
15
Fines & Penalties
244,129
246,570
247,803
252,759
254,023
256,563
257,846
16
Total General Fund Revenues
61,244,240
62,236,978
62,816,394
64,325,207
68,104,964
67,341,937
68,889,415
17
18
Expenses
19
General Fund Expenditures
20
Salaries & Benefits
42,943,061
44,067,865
45,224,861
46,754,266
48,355,189
50,031,977
51,789,287
21
OPERATIONS
16,051,952
16,199,599
16,140,253
16,504,666
16,412,203
16,803,217
16,915,861
22
TRANSFERS
23
TRANSFER OUT
24
DEBT SERVICE
25
TRANSFERS OUT -FUND 208
246,000
0
831,000
831,000
831,000
831,000
1,468,000
26
TRANSFER OUT -FUND 217
549,250
548,700
545,300
546,300
551,500
545,900
0
27
TRANSFER OUT -FUND 200
690,000
711,956
709,591
711,577
2,995,144
652,634
649,246
28
TRANSFERS OUT -FUND 218
113,130
113,130
113,130
113,130
113,130
0
0
29
TRANSFER OUT -FUND 211
809,100
810,900
0
0
0
0
0
30
TRANSFER OUT -FUND 209
672,000
557,700
558,250
553,500
553,600
558,400
557,750
31
TRANSFER OUT -FUND 214
519,100
517,500
515,068
516,637
515,814
514,462
517,583
32
Total DEBT SERVICE
3,598,580
3,259,886
3,272,339
3,272,144
5,560,188
3,102,396
3,192,579
33
Other
369,041
355,000
355,000
355,000
355,000
355,000
300,000
34
Total TRANSFER OUT
3,967,621
3,614,886
3,627,339
3,627,144
5,915,188
3,457,396
3,492,579
35
Total TRANSFERS
3,967,621
3,614,886
3,627,339
3,627,144
5,915,188
3,457,396
3,492,579
36
Unallocated Budget Adjustment EOM
(1,770,750)
(2,250,000)
(2,250,000)
(2,250,000)
(2,250,000)
(2,500,000)
(2,500,000)
37
Total General Fund Expenditures
61,191,884
61,632,351
62,742,453
64,636,076
68,432,580
67,792,591
69,697,727
38
39
Operating Results
40
Net Operating Result
52,356
604,628
73,942
(310,869)
(327,616)
(450,654)
(808,312)
41
Capital Inflows
3,800,000
0
0
0
0
0
0
42
Capital Outflows
43
CAPITAL
30,000
0
0
0
0
0
0
44
TRANSFERS
45
TRANSFER OUT
46
Capital
47
000.20.597.303.00 - TRANSFER OUT -FUND 303
200,000
300,000
300,000
300,000
300,000
300,000
300,000
48
000.20.597.301.00 - TRANSFERS -OUT FUND 301
122,000
0
0
0
0
0
0
49
000.20.597.103.00 - TRANSFER OUT -FUND 103
0
100,000
465,000
465,000
465,000
465,000
465,000
50
000.20.597.104.00 - TRANSFER OUT -FUND 104
2,460,000
500,000
2,279,000
2,931,000
2,065,000
1,500,000
1,500,000
51
Total Capital
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
52
Total TRANSFER OUT
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
53
Total TRANSFERS
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
54
Total Capital Outflows
2,812,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
55
56
Fund Balance
57
Starting Fund Balance
12,795,650
13,836,006
13,540,634
10,570,576
6,563,707
3,406,090
690,437
58
Surplus/Deficit
1,040,356
(295,372)
(2,970,058)
(4,006,869)
(3,157,616)
(2,715,654)
(3,073,312)
59
Ending Fund Balance
13,836,006
13,540,634
10,570,576
6,563,707
3,406,090
690,437
(2,382,876)
60
6)
N
SCENARIO D - 20 and 30 YEAR
A
B
C
D
E
F
G
H
1
General Fund Budget Projections - Tukwila - 2018 - 2024
Revenues
General Fund Revenues
TAXES
2018
Budget
2019
Projected
2020
Projected
2021
Projected
2022
Projected
2023
Projected
2024
Projected
2
3
4
5
6
SALES TAX
19,475,000
20,059,250
20,661,028
21,280,858
21,919,284
22,576,863
23,254,168
7
PROPERTY TAX
15,279,302
15,584,888
15,896,586
16,214,518
16,538,808
16,869,584
17,206,976
8
BUSINESS TAX
11,229,927
11,521,339
11,818,769
12,145,985
12,479,787
12,802,514
13,132,498
9
Total TAXES
45,984,229
47,165,477
48,376,382
49,641,360
50,937,879
52,248,960
53,593,642
10
CHARGES FOR SERVICES
3,275,080
3,319,185
3,379,544
3,452,699
3,508,963
3,563,516
3,610,393
11
OTHER INCOME
587,194
599,583
606,380
618,698
629,579
644,462
655,790
12
Licenses & Permits
4,409,090
4,384,780
4,453,059
4,530,979
4,593,484
4,656,958
4,721,418
13
TRANSFERS
2,325,643
2,372,156
2,419,599
2,467,991
4,793,351
2,567,698
2,619,052
14
INTERGOVERNMENTAL REVENUE
4,418,875
4,149,227
3,333,627
3,360,721
3,387,685
3,403,779
3,431,274
15
Fines & Penalties
244,129
246,570
247,803
252,759
254,023
256,563
257,846
16
Total General Fund Revenues
61,244,240
62,236,978
62,816,394
64,325,207
68,104,964
67,341,937
68,889,415
17
18
Expenses
19
General Fund Expenditures
20
Salaries & Benefits
42,943,061
44,067,865
45,224,861
46,754,266
48,355,189
50,031,977
51,789,287
21
OPERATIONS
16,051,952
16,199,599
16,140,253
16,504,666
16,412,203
16,803,217
16,915,861
22
TRANSFERS
23
TRANSFER OUT
24
DEBT SERVICE
25
TRANSFERS OUT -FUND 208
246,000
0
831,000
831,000
498,600
498,600
880,800
26
TRANSFER OUT -FUND 217
549,250
548,700
545,300
546,300
551,500
545,900
0
27
TRANSFER OUT -FUND 200
690,000
711,956
709,591
711,577
2,995,144
652,634
649,246
28
TRANSFERS OUT -FUND 218
113,130
113,130
113,130
113,130
113,130
0
0
29
TRANSFER OUT -FUND 211
809,100
810,900
0
0
0
0
0
30
TRANSFER OUT -FUND 209
672,000
557,700
558,250
553,500
553,600
558,400
557,750
31
TRANSFER OUT -FUND 214
519,100
517,500
515,068
516,637
515,814
514,462
517,583
32
Total DEBT SERVICE
3,598,580
3,259,886
3,272,339
3,272,144
5,227,788
2,769,996
2,605,379
33
Other
369,041
355,000
355,000
355,000
355,000
355,000
300,000
34
Total TRANSFER OUT
3,967,621
3,614,886
3,627,339
3,627,144
5,582,788
3,124,996
2,905,379
35
Total TRANSFERS
3,967,621
3,614,886
3,627,339
3,627,144
5,582,788
3,124,996
2,905,379
36
Unallocated Budget Adjustment EOM
(1,770,750)
(2,250,000)
(2,250,000)
(2,250,000)
(2,250,000)
(2,500,000)
(2,500,000)
37
Total General Fund Expenditures
61,191,884
61,632,351
62,742,453
64,636,076
68,100,180
67,460,191
69,110,527
38
39
Operating Results
40
Net Operating Result
52,356
604,628
73,942
(310,869)
4,784
(118,254)
(221,112)
41
Capital Inflows
3,800,000
0
0
0
0
0
0
42
Capital Outflows
43
CAPITAL
30,000
0
0
0
0
0
0
44
TRANSFERS
45
TRANSFER OUT
46
Capital
47
000.20.597.303.00 - TRANSFER OUT -FUND 303
200,000
300,000
300,000
300,000
300,000
300,000
300,000
48
000.20.597.301.00 - TRANSFERS -OUT FUND 301
122,000
0
0
0
0
0
0
49
000.20.597.103.00 - TRANSFER OUT -FUND 103
0
100,000
465,000
465,000
465,000
465,000
465,000
50
000.20.597.104.00 - TRANSFER OUT -FUND 104
2,460,000
500,000
2,279,000
2,931,000
2,065,000
1,500,000
1,500,000
51
Total Capital
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
52
Total TRANSFER OUT
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
53
Total TRANSFERS
2,782,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
54
Total Capital Outflows
2,812,000
900,000
3,044,000
3,696,000
2,830,000
2,265,000
2,265,000
55
56
Fund Balance
57
Starting Fund Balance
12,795,650
13,836,006
13,540,634
10,570,576
6,563,707
3,738,490
1,355,237
58
Surplus/Deficit
1,040,356
(295,372)
(2,970,058)
(4,006,869)
(2,825,216)
(2,383,254)
(2,486,112)
59
Ending Fund Balance
13,836,006
13,540,634
10,570,576
6,563,707
3,738,490
1,355,237
(1,130,876)
60