Agenda - 09-01-2015 - 6a - Laserfiche WebLink

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16 1 June 25, 2015). Also, includes funds of$169,575 in Year 1 (FY 2015-16) for the replacement of 2 outdated ADA voting equipment, as part of an IT Governance Council initiative. 3 • Life Safety—ADA (CIP page 35) — includes moving $60,000 from Year 2 to Year 1 (FY 4 2015-16) for elevator improvements at the Historic Courthouse. 5 • Conservation Easements (CIP page 48) — includes additional County funds of$125,000 6 and matching State/Federal grant funds and landowner donations of$125,000 beginning in 7 Year 1 (FY 2015-16) and continuing each year throughout the CIP. Due to the County's 8 increase in funds, staff recommends debt financing instead of Pay-As-You-Go funding. 9 • CIP Plan Summary(CIP pages 6-7), County Capital Projects Summary(CIP pages 16- 10 17), and County Capital Operating Impact Summary (CIP pages 18-19) —to reflect the revised 11 County Capital Projects listed above. 12 Note: A revised County Debt Service and Debt Capacity— General Fund Only (CIP pages 133- 13 134) affected by these revised projects was provided at the June 9 work session, along with 14 information related to Debt Capacity and Debt Affordability. 15 16 Proprietary Project 17 • Solid Waste - Sanitation (CIP page 81) — removes $296,035 from Year 1 (FY 2015-16) 18 for the replacement of a front end loader. Solid Waste Department was able to purchase this in 19 the current fiscal year with unanticipated funds within the department's budget. 20 • Solid Waste Capital Projects Summary(CIP page 79) —to reflect the revised Sanitation 21 Capital Project listed above. 22 Paul Laughton said at the Commissioners' places are the revised County Debt Service 23 and Debt Capacity, with changes highlighted in yellow. He said on the second page of the 24 handout, in bold print, it is shown that the County does stay under the 15% Debt Service policy. 25 Paul Laughton said on the second page of his hand out, one can see a bump in 2017-18 26 and 2018-19. He said those are the years that revenue sources must be closely reviewed. He 27 said the County would still need to look at additional revenue sources and tax revenue 28 implications to pay for this additional debt. He said the County may have to look at raising 29 taxes to cover the debt in these latter years. He said though the capacity looks okay now the 30 projected debt service payments going forward need to be studied closely. 31 Commissioner Dorosin asked if these numbers include a potential bond. 32 Paul Laughton said no. 33 Commissioner Dorosin said as a bond could change the debt service picture in a 34 negative way, he would like to see this information. 35 Commissioner Jacobs said as the Board pursues the discussion of the bond package, it 36 would be good to have a clear picture of the debt capacity so the Board can make informed 37 decisions. 38 Chair McKee asked for clarification regarding the projected annual debt. He asked if 39 this pertained to affordability, and not capacity. 40 Paul Laughton said yes. 41 Chair McKee asked if the bond goes on the ballot and passes in 2016 when would the 42 debt payments begin. 43 Paul Laughton said the payments would begin one year after the first debt is issued. 44 45 Adjournment 46 A motion was made by Commissioner Rich, seconded by Commissioner Dorosin to 47 adjourn the meeting at 10:12 p.m. 48 49 VOTE: UNANIMOUS 50