Agenda - 11-02-2006-8a - Laserfiche WebLink

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20 Rnarlarc [~nrrrw to Onnual r~wFst Sarvir_a Caeacity and Tax Rate imeaet .General Fund oniv Chan COi~ Column Title Description of Contents umn A Fiscal Year The County's fiscal year runs from Jufy 1 through June 30. For years 1999-00 through 2006-07, this column reflects the original B Total General Fund budget EOCC approved General Fund t3udget. in accordance with BOCC direction provided at the August 31, 2006 work session, fiscal years beginning with 2007-OS reflect a 7 percent annual increase. Far years 1999-00 through 2006-07, this column reflects the actual percentage Increase in the County's total General Fund. In C Annual % Increase accordance with t30CC direction provided at the August 31, 2006 work session, fiscal years beginning with 2007-OS reflect a 7 percent annual increase. In accordance with the County's current Debt Management Policy, annual General Fund debt service payments are to be no more than D Total Debt Service Capacity 15 percent of total General Fund. The amounts shown in this column equate to 15 percent of each year's total General Fund budget {column B multiplied by 15°!0} Nola: columns E through J are relevant to currently issued debt and debt planned for issuance between fiscal years 2006- 07and 2009-10 (as endorsed by Commissioners on September 94, 2006) E General Fund Debt Service for Currently Amounts in this column reflect the total General Fund debt service Issued Debf payments for debt that the County issued on or before June 30, 2006. Amounts in this column reflect projected debt service payments forth prgjecis ($92.2 million face value debt) that the BOCC endorsed for F Projected Additional Debt Service by Fiscal future debt funding at the September 14, 2006 work session. Chart 1, Year above, provides a list of individual projects. Debt payback projections are based on 6 percent annual interest over a twenty year financing period with fixed principal payments. G Total Debt Service This column reflects a total of debt service for currently issued debt plus projected additional debt service (column E plus column F} Remaining Debt Service Capacity After Amourits rn this column reflect the debt service capacity that remains H Issuing Additional Proposed Debt after rsswng the additional proposed $922 million in face value debt (column D minus column G} Note: Columns 1 and J reface fa projected tax rate impacts of projected additional debt service, operating and staffing of new facilities. Staff is curren#ly working an deve%ping operaGonat ca-efilcrencies to determine future operating, maintenance and staffing needs of individual capital projects. Amounts 1n this column reflect the projected tax rate increase Tax Rate Impact of Additional Debt Service aftributed to additional debt issued ($92.2 million} in accordance wish BOCC direction on September i4, 2006 (column F divided by column J) Amounts'reflected in this column project how much money each J i Cent Equivalent penny on the tax rate would generate each year. Staff anticipates that assessed property valuation in non-Revaluation years would increase at 3 percent and at 15 percent in Revaluation years. Note: Columns K through M identify a range of debt service and borrowing capacity beyond the currently Issued debt and debt planned for issuance between fiscal years 2006-07 through 2009-90 Amounts to this column reflect the amount of debt service capacity that would remain each year after the debt service amounts identified K Debt Service in column G were paid. For presentation purposes, it is assumed that 100 percent of prior year debt capacity is issued. Amounts in this column represent the face value debt that the County L Borrowing Capacity Range would be able to txrrraw with the annual debt service capacity ident~ed in column K 10/i1106 Page 4 of 5