HomeMy WebLinkAbout302 Capital Improvement PlanBUDGET/PROGRAM: Capital Improvement Fund 302-000-010
MISSION:
The Capital Improvement Fund pays debt service and transfers monies to various capital construction projects. The primary revenue is the 1/2 of 1% Real Estate Excise Tax.
2016
Actual
2017
Actual
2018
Adopted
2018
Revised
2019
Request
BEGINNING CASH BALANCE 2,737,948 1,896,470 2,020,039 2,020,039 1,082,392
REVENUE:
2016
Actual
2017
Actual
2018
Adopted
2018
Amended
2019
Request Add/<Delete>Memo
Taxes 1,237,754 1,236,519 1,025,000 1,025,000 1,025,000
Intergovernmental 48,750 47,938 47,938 47,125
Other Financing Sources 300,000 0
TOTAL REVENUE 1,537,754 1,285,269 1,072,938 1,072,938 1,072,125
EXPENDITURES:
2016
Actual
2017
Actual
2018
Adopted
2018
Amended
2019
Request Add/<Delete>Memo
Salaries
Benefits
Supplies
Interfund Loan 650,000
Debt Service 629,250 629,200 631,400 631,400 256,000
Interfund Transfers 1,100,000 532,500 1,352,185 1,379,185 500,000
Capital
TOTAL EXPENDITURES 2,379,250 1,161,700 1,983,585 2,010,585 756,000
2016
Actual
2017
Actual
2018
Adopted
2018
Revised
2019
Request
ENDING CASH BALANCE 1,896,470 2,020,039 1,109,392 1,082,392 1,398,517
STAFFING: 2016
Actual
2017
Actual
2018
Adopted
2018
Amended
2019
Request
0.00 0.00 0.00 0.00 0.00
Central Services
JEFFERSON COUNTY 2019 BUDGET REQUEST
BUDGET/PROGRAM: Capital Improvement Fund 302-000-010
GOALS FOR FY2019
1. Assure that all debt services payments are made in a timely manner
2. Review all debt to minimize costs
OBJECTIVES FOR FY2019
1. Check accounting reports on a quarterly basis for debt payments
2. Evaluate potential bond refunding savings/costs
3. Monitor and report REET receipts monthly
PERFORMANCE INDICATORS:
2016
Actual
2017
Actual
2018
Planned
2019
Plan
None Defined
SUMMARY OF KEY FUNDING/SERVICE ISSUES:
Since the Real Estate Transfer Tax revenue has the potential to be volatile, debt service costs should generally not exceed 85% of those revenues. Although there is legal
authority to issue more debt, it is practically limited by the County's ability to pay debt service and complete major maintenance projects. In 2016 the BOC approved a loan
from CIP to the County Road fund for the Undie Road project for the amount $650,000. The loan is to be paid in full by 2036.