Agenda - 03-05-2015 - 3 - Laserfiche WebLink

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u Appendices — Highlights County Debt Service and Debt Capacity — Based on the Manager's recommended funding, the County's annual debt service as a percent of the General Fund budget would remain under the 15% Debt Service Policy throughout the 5 -year CIP period, with the highest percentage in Year 4 (FY 2018 -19) at 14.08 %. Given the funding scenarios in the CIP for Years 6 -10, the highest percentage in those years would reach 13.92% in Year 7 (FY 2021 -22). Note: Even though there is new debt assumed in Years 6 -10, it is offset by the retirement of some of the County's existing debt. Water and Sewer Projects Debt Service (to be paid with Article 46 Sales Tax proceeds) — based on the current allocation for debt service for Economic Development initiatives, the accumulated amount of revenue earmarked for debt service is adequate to cover debt service payments through the 5 -year CIP period. FINANCIAL IMPACT: There is no immediate financial impact associated with the presentation of the FY 2015 -20 Capital Investment Plan. It is a long -range financial planning tool with a financial impact in FY 2015 -20, if the first year of the CIP is approved by the Board of County Commissioners with the adoption of the Annual Budget. RECOMMENDATION(S): The Manager recommends the Board receive the presentation of the Manager's Recommended FY 2015 -20 Capital Investment Plan and provide direction to staff in preparation of the April 9, 2015 Budget work session.