City	
  Council	
  Finance	
  Commi/ee	
  
Thursday,	
  October	
  21,	
  2010	
  
Overall	
  net	
  direct	
  debt	
  will	
  not	
  exceed	
  10%	
  of	
  assessed	
  valua=on.	
  
FY13	
  ESTIMATED	
  A...
 $3,000,900	
  	
  
	
  $32,595,709	
  	
  
	
  $8,896,500	
  	
  
	
  $3,910,000	
  	
  
	
  $20,335,500	
  	
  
	
  $2,4...
 $3,910,000	
  	
  
	
  $1,358,000	
  	
  
	
  $500,000	
  	
  
	
  $6,500,000	
  	
  
	
  $22,516,209	
  	
  
	
  $29,428...
 $377,000	
  	
  
	
  $33,054,609	
  	
  
	
  $7,128,000	
  	
  
	
  $2,121,500	
  	
   	
  $1,772,000	
  	
  
	
  $23,408...
• Planning	
  began	
  in	
  1994	
  under	
  during	
  the	
  Ford	
  administra=on	
  
• Joint	
  Police/Fire	
  facilit...
 $-­‐	
  	
  
	
  $500,000	
  	
  
	
  $1,000,000	
  	
  
	
  $1,500,000	
  	
  
	
  $2,000,000	
  	
  
	
  $2,500,000	
  ...
$0	
  
$500,000	
  
$1,000,000	
  
$1,500,000	
  
$2,000,000	
  
$2,500,000	
  
FY	
  2004	
   FY	
  2005	
   FY	
  2006	
...
Police station presentation for council 10 21-10
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Police station presentation for council 10 21-10

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Police station presentation for council 10 21-10

  1. 1. City  Council  Finance  Commi/ee   Thursday,  October  21,  2010  
  2. 2. Overall  net  direct  debt  will  not  exceed  10%  of  assessed  valua=on.   FY13  ESTIMATED  Assessed  Valua=on:  $  3,339,427,199  x  10%  =  $333,942,720                 Overall  FY13  ESTIMATED    net  direct  debt:  $6,339,045  or  1.7%   Total  General  Fund  general  obligaGon  debt  service  and  capital  spending  (including  debt   exclusion  and  capital  exclusion  overrides)  will  not  exceed  10%  of  General  Fund  opera=ng   revenues.     Total  ESTIMATED    General  Fund  $77,479,577    -­‐    Interfund  Transfers,  Reserves  and  State   Off-­‐set  Receipts  =  $68,746,211.    Debt  to  Opera=ng  Ra=o    8.2%   General  Fund  levy-­‐supported  general  obligaGon  debt  service  and  capital  spending  (exclusive   of  dedicated  revenue  sources  such  as  debt  exclusion  and  capital  exclusion  overrides,  state  reimbursements,  parking   system  receipts,  etc.)  will  not  exceed  5%  of  net  General  Fund  operaGng  revenues.   Levy-­‐Supported  Debt  Service  and  Capital  Spending  (within  Levy  Limit)  as  a  %  of  net   General  Fund  opera=ng  revenues:  2.6%  
  3. 3.  $3,000,900      $32,595,709      $8,896,500      $3,910,000      $20,335,500      $2,443,600      $-­‐          $5,000,000      $10,000,000      $15,000,000      $20,000,000      $25,000,000      $30,000,000      $35,000,000     Culture  and  Recrea=on   Educa=on   General  Government   Human  Services   Public  Safety   Public  Works  
  4. 4.  $3,910,000      $1,358,000      $500,000      $6,500,000      $22,516,209      $29,428,000     CDBG   Comcast  I-­‐net     CPA   Energy  Savings   General  Fund   Override  
  5. 5.  $377,000      $33,054,609      $7,128,000      $2,121,500      $1,772,000      $23,408,600      $1,802,000      $1,518,500     Acquisi=on   Building   Renova=on   Energy   Equipment   Infrastructure   Improvements   New  Building   Repair/Renova=on   Vehicle  
  6. 6. • Planning  began  in  1994  under  during  the  Ford  administra=on   • Joint  Police/Fire  facility  studied  in  1995  as  a  part  of  the  planning  for  the  new  Fire  Sta=on     • ruled  out  because  of  the  cost  of  land  in  the  downtown  area   • City  Council  funded  Police  Facility  Needs  Assessment  in  2003   • Capital  Improvements  Commi/ee  recommends  funding  for  construc=on  in  FY  2006   • City  Council  Funded  Design/Build    process  in  2007   • Cost  of  the  new  sta=on  is  es=mated  at  $17  million  in  2008   • Economic  downturn  impacts  the  City’s  ability  to  fund  the  sta=on’s  construc=on  under  the  City’s   current  Debt  Ceiling   • City  unsuccessfully  looks  for  outside  funding  (e.g.  Federal  s=mulus  grants)   • Council  votes  to  put  the  override  ques=on  to  the  voters  in  2010  
  7. 7.  $-­‐      $500,000      $1,000,000      $1,500,000      $2,000,000      $2,500,000     FY   2004   FY   2005   FY   2006   FY   2007   FY   2008   FY   2009   FY   2010   FY   2011   FY   2012   FY   2013   FY   2014   FY   2015   FY   2016   FY   2017   FY   2018   FY   2019   Debt  Exclusion  Override  (JFK)   Debt  Exclusion  Override  (High  School)   Debt  Exclusion  Override  (Fire  Sta=on)  
  8. 8. $0   $500,000   $1,000,000   $1,500,000   $2,000,000   $2,500,000   FY  2004   FY  2005   FY  2006   FY  2007   FY  2008   FY  2009   FY  2010   FY  2011   FY  2012   FY  2013   FY  2014   FY  2015   FY  2016   FY  2017   FY  2018   FY  2019   FY  2020   Debt  Exclusion  Override  (JFK)   Debt  Exclusion  Override  (High  School)   Debt  Exclusion  Override  (Fire  Sta=on)   Debt  Exclusion  Override  (Police  Sta=on)  

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