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^ INCREASE OF 8.9% OVER 2003 <br />^ LEADING EXPENDITURES INCLUDE <br />EDUCATION, HUMAN SERVICES <br />AND PUBLIC SAFETY (89%} <br />$62.6 MILLION GENERAL FUND DOLLARS FOR EDUCATION <br />48.5°I° of Expenditures <br />^ Current Expense $44.6 million <br />^ Capital $ 3.7 million <br />^ Debt Service $ ~ 4.3 million <br />^ Number ~ in the State According to Most Recent Public School Forum Report <br />FUND BALANCE POSITION <br />^ $12.5 Million "Available" as of 6/30/2004. <br />^ 9.6% of 2004 Expenditures. <br />^ Exceeds L G C 8 % Recommended Minimum <br />^ $9.7 M1lkon Appropriated 2004-2005 <br />DEBT POSITION <br />^ OUTSTANDING DEBT @ 6/30/04 $936.6 MILLION. <br />^ DEBT EVIDENCED BY <br />BONDS $907.5 MILLION <br />ALTERNATIVE $ 29.9 MILLION <br />^ $55.8 MILLION BONDS AUTHORIZED AND UNISSUED A T 6/30104 <br />DEBT POLICY PARAMETERS <br />^ Debt Wil! Nof Exceed 3% of Assessed Value <br />-Actual Debt = 1.4°10 of Assessed Value <br />^ Debt Service Payments Will Not Exceed 95% of Operating Expenses <br />-Actual Pymts =13% of Operating Expenses <br />DEBT SUBSEQUENT YEAR <br />^ ISSUED $25.9 MILLION IN BONDS JULY 04 <br />(INCLUDED $99.7 MILLION 2001 BONDS $9.2 MILLION 9997 SEWER BONDS <br />AND $4.2 MILLION TWO-THIRDS BONDS} <br />^ REVISIONS TO THE DEBT ISSUANCE SCHEDULE CURRENTLY UNDERWAY <br />^ $35 MILLION 2009 BONDS UNISSUED <br />OTHER FUNDS <br />^ SOLID WASTE ENTERPRISE FUND <br />^ SPECIAL REVENUE FUNDS <br />Solid Waste Enterprise Fund <br />^ OPERATING REVENUES OF$4.6 MILLION <br />