Agenda - 12-12-2006-8b - Laserfiche WebLink

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iD/1 i106 Readers Guides to Anrnrai Deht Servlee Capacity and Tar Rafe Impact .Genera! Fund Onrv Chart Col- Column Title pescripUon of Contents umn A Ffscal Year The County's fiscal year runs from Juiy 1 through June 30. For years 1999-00 through 2006-07, th{s column reflects the original B Total General Fund Budget BOCC approved General Fund Budget In accordance with 8000 direction provided at the August 31, 2D06 work session, fiscal years beginning with 2007-06 reflect a 7 percent annual increase. For years 1999.OD through 2006.07, this column reflects the actual percentage increase in the County's total General Fund. in C Annual % Increase accordance with 80CC direction provided at the August 31, 2006 work session, fiscal years beginning with 2007-OB reflect a 7 percent annual increase. in accArdance 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 years total General Fund budget ' (column B multiplied by 15%} Note: 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 Commissroners on September 14, 2006) E General Fund Debt Service for Currently Amounts in ihis column reflect the total General Fund debt service Issued Oebt payments for debt chat the County issued on or before June 30, 2006. Amounts in This column reflect projected debt service payments for ih projects ($92.2 million face value debU that the BOCC endorsed for F Projected Addiflonai Debt Service by Fisgl 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 financtng period with fixed principal payments. G Total Debt Service This column reflects a total of debt service far curtenfly issued debt plus protected additional debt service (column E plus column F) Remaining Debt Service Capacity After Amounts m this column reflect the debt service capacity that remains H Issuing Additional Proposed Debt after issuing the additional proposed $922 million in face value debt. (column D minus column G) Note: Columns ! and J re(ale to projected tax rate impacts of projected addiliona! debt service, operating and slatting of new fara7ities. Slatf is currently working on developing operational co-etTicrencies to determine lutura operating, maintenance and staffing needs of Individual capital projects. Amounts m this column reflect the protected tax rate Increase I Tax Rate Impact of Additional Debt Service attributed to addiflanai debt issued ($922 million) in accordance wish BOCC direction on September 14, 2006 (column F divided by column J} Amounts reflected in this column pro/ect how much money each J 1 Cent Equivalent penny on the tax rate would generate each year. Staff anttctpates that assessed property valuation in non-Ravaluafian years would increase at 3 percent and at 15 percent in Revaluation years. Nate: Columns K through M identify a range of debt ser-nce and borrowing capacii beyond the currently Jssued debt and debt planned far issuance between fiscal years 2006.07 Utrough 2009-i0 Amounts in this column reflect the amount of debt service capacity K Debt Service that would remain each year after the debt service amounts identified in column G were paid. For presentation purposes, it is assumed that 100 percent of prior year debt capacity is issued. Amounts in ihis column represent the face value debt that the County L Bonawing Capacity Range would be able to borrow with the annual debt service capacity identified In column K V Page 4 of 5