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3 7km q 0_ <br /> 9 6/18/02 <br /> Proposed Decision Points for June 20, 2002 Budget Work Session <br /> At the June 11, 2002 work session, the Board <br /> discussed possibly deferring certain County <br /> initiatives or capital projects as a way to make up a <br /> Decision Point 1 (highlighted in light blue on portion of the $3.1 million in State withholdings in <br /> Attachment 1) fiscal year 2002-03. Staff requests that the Board <br /> confirm the deferral of these items (highlighted in <br /> purple on the attached sheet). The amount of <br /> these deferrals totals approximately$2.3 million. <br /> Should the Board confirm all of the items included <br /> in Decision Point 1, there would still be a deficit of <br /> Decision Point 2(highlighted in yellow on approximately$807,000 in meeting the total $3.1 <br /> Attachment 1) shortfall. Staff has outlined potential projects, that <br /> are included in the FY 2002-03 Manager's <br /> Recommended CIP pay-as-you-go funding (totaling <br /> $1.28 million), that could be deferred for one year. <br /> Projects outlined in Decision Point 3 have been <br /> approved by the BOCC in prior fiscal years. For <br /> one reason or another, certain funds have not yet <br /> been expended or obligated. As the Board <br /> deliberates the property tax rate for fiscal year <br /> 2002-03, Commissioners may wish to use <br /> ("borrow")these funds to offset the Manager's <br /> Decision Point 3(Attachment 2, color coded in Recommended tax rate increase of 4.5 cents. It is <br /> mint green, light yellow and pink) important to note that, should the BOCC decide to <br /> use monies from any of these projects for the <br /> upcoming fiscal year, the funds would need to be <br /> "repaid"to the individual projects over the next few <br /> years, unless the BOCC decides to permanently <br /> discontinue certain specified projects. As staff <br /> prepares future Capital Investment Plans (CIP), a <br /> "repayment plan"would be included and outlined <br /> for the Board's consideration. <br /> The Board may wish to provide guidance now <br /> regarding the Proposed Bond and Alternative <br /> Financing Issuance Plan—particularly as it relates <br /> to Lands Legacy, Farmland/Conservation <br /> Easements, and School related projects. During <br /> July and August, staff can re-configure the <br /> Decision Point 4. proposed plan to incorporate the BOCC's <br /> suggested changes and present a revised Issuance <br /> Plan at the August 29 BOCC work session. This <br /> would allow sufficient time in early fall 2002 for staff <br /> to work with the LGC and meet the required <br /> timelines for a late December/early January <br /> issuance. <br /> Pagel <br />