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Home My WebLink About0331005 attachmentFiscal Year 2005 -06 Capital Funding Options Color Legend Projected Sales Tax Annual Property Tax Dedicated to Retire Debt Service Debt Service Net Available for School and County Capital Projects Recurring Capital Percentage Split Between School and County Capital Projects Restricted County Revenues Major Components Current Policy including Recurring Capital) of Policy Option 1 Option 2 Option 3 Separated Between Schools and County and Reduced by Dedicated Revenues (including Property Tax Dedicated to retire voter approved debt Debt Service service, public school building funds and school construction impact fees) Same as Option 1 Same as Option 1 Same as Optic Cedar Ridge Deb and Peak Deb Service Remain with OCS Removes from OCS Remain with OCS Removes from Net Pay -As -You -G Fund Split 60/40 (60% to Schools and 40% to County) ISame as Option 1 Same as Option 1 Same as Optic 3 Cents Dedicated to School Recurring Capital Along With One Cent 3 Cents Dedicated to School Recurring Capital Remains with Schools; Recurring Capita One Cent Dedicated to County Capital Projects Remains with County Same as Option 1 Dedicated to County Capital Projects Split 60/40 Between School and County Capital Same as Optic Revenue: Projected Sales Tax (March 23, 2005 projections) 9,586,210 Sales Tax March 23, 2005 projections) 9,586,210 Property Tax Dedicated to Retire Debt Service 13,119,933 Property Tax Dedicated to Retire Debt Service - Skills Dev Ctr Rental 85,000 Skills Dev Ctr Rental Inmate Jail Fees 164,000 Inmate Jail Fees Total Revenue 22,955,143 Total Revenue 9.586,210 Debt Service: Debt Service: Debt Service: Debt Service: Debt Service: Existing and Projected 18,311,753 Existing and Projected School Debt 13,213,672 Existing and Projected School Debt 14,925,041 Existing and Projected School Debt 13,213,672 Existing and 1 Less: Public School Building Funds 802,000 Less: Public School Building Funds 802,000 Less: Publ Less: Public School Building Funds 802,000 Less: Property Tax Dedicated to Retire Debt Service - Less: School Construction Impact Fees 2,570,000) Less: School Construction Impact Fees 2,570,000 Less: School Construction Impact Fees 2,570,000 Less: Schc Less: Skills Development Center Rental Net School Debt 9,841,672 Net School Debt 11,553,041 Net School Debt 9,841,672 Net ScIF Less: Inmate Jail Fees Existing and Projected County Debt 5,098,081 Existing and Projected County Debt 5,098,081 Existin and Projected County Debt 5,098,081 Existing and I Less: Public School Building Funds Less: Skills Development Center Rental 85,000 Less: Skills Development Center Rental 85,000 Less: Skills Development Center Rental 85,000 Less: Skill; Less: School Construction Impact Fees - Less: Inmate Jail Fees 164,000 Less: Inmate Jail Fees 164,000 Less: Inmate Jail Fees 164,000 Less: Inma Net County Debt 4,849,081 Net County Debt 4,849 081 Net County Debt 4,849,081 Net Cot Total Debt Service 18,311,753 Net Debt Service 14,690,753 Net Debt Service 16,402,122 Net Debt Service 14,690,753 Less: Property Tax Dedicated to Retire Debt Less: Property Tax Dedicated to Retire Debt Less: Property Tax Dedicated to Retire Debt Less: Properi Revenue Less Debt 4,643390 Service 14,322 698 Service 14,322,698 Service 14,322,696 Service Net Amount Available for School and County Remaining Debt Service to Pay from Sales Tax Remaining Debt Service to Pay from Sales Tax Remaining Debt Service to Pay from Sales Tax Remaining De Capital Projects 4,643,390 Revenues 368,055 Revenues 2,079,424 Revenues 368,055 Projected Sales Tax (March 23, 2005 Projected Sales Tax (March 23, 2005 Projected Sales Tax (March 23, 2005 Projected Sak projections) 9,586,210 projections) 9,586,210 projections) 9,586,210 projections) Net Amount Available for School and County Net Amount Available for School and County Net Amouni Net Amount Available for School and County Capital Projects (Projected Sales Tax less Capital Projects (Projected Sales Tax less Capital Projects (Projected Sales Tax less Capital P y Tax Dedicated (3 cents) to Schools Property Tax I ng Capital (in accordance with BOCC Recurring Cal; ty Tax Dedicated to School /County 1 (1 cent) (in accordance with current Fiscal Year 2005 -06 Capital Funding Options Color Legend Projected Sales Tax Annual Property Tax Dedicated to Retire Debt Service Debt Service Net Available for School and County Capital Projects Recurring Capital Percentage Split Between School and County Capital Projects Restricted County Revenues Major Components Current Policy (including Recurring Capital) of Policy Option 1 Option 2 Option 3 Allocation of Net Amount Available For Schools 1 50% 2,321,695 Allocation of Net Amount Available For Schools 60% 5,530,893 Allocation of Net Amount Available For Schools 60% 4,504,072 Allocation of Net Amount Available (Including Total Property Tax Dedicated to School and County Recurrin Ca ital) For Schools 60% 8,321,253 Allocation of Dedicated to For Schools For Count 50% 2,321,695 For Count 40% 3,687,262 For Count 40% 3,002,714 For Count 40% 5,547,502 For Count Net Amount Available 4,643,390 Net Amount Available 9,218,155 Net Amount Available 7,506,786 Net Amount Available (including Recurring Capital) 13,868,755 Schools Schools Schools Schools Schools From Above _ Transfer from GF in lieu of PSBF Property Tax Dedicated (3 cents) to School Recurring capital (in accordance with BOCC adopted policy) 2,321,695 802,000 3487.950 From Above Property Tax Dedicated (3 cents) to School Recurring capital (in accordance with BOCC adopted policy) 5,530,893 3,487,950 From Above Property Tax Dedicated (3 cents) to School Recurring capital (in accordance with BOCC adopted policy) 4,504,072 3,487 950 From Above 8,321,253 IFrom Above Total Amount for Schools 6,611,645 Total Amount for Schools 9,018,843 Total Amount for Schools 7,992,022 Total Amount for Schools 8,321,253 Tc Allocation - Schools OCS Share of Net 1 38.50%1 2,545,483 Allocation - Schools OCS Share of Net 38.50%1 3,472,255 Allocation - Schools OCS Share of Net 1 38.50%1 3,076,928 Allocation - Schools OCS Share of Net 1 38.50%1 3,203,682 Allocation -: OCS Share of Impact Fees 970,000 Im act Fees - Impact Fees - Impact Fees - Impact Fees Peak Debt Service 275,581 Peak Debt Service 275,581 Peak Debt Service Peak Debt Service 275,581 Peak Debt Se Less: OCS portion of new HS debt (1,711,369 Less: OCS portion of new HS debt 1,711,369 Less: OCS portion of new HS debt Less: OCS portion of new HS debt 1,711,369 Less: OCS Total OCS 2,079,695 Total OCS 2,036,467 Total OCS 3,076,928 Total OCS 1,767,894 CHCCS Share of Net 61.50%1 4,066,162 Sales Tax 61.50% 5,546,588 Sales Tax 1 61.50%1 4,915,093 Sales Tax 61.50%1 5,117,571 Sales Tax Impact Fees Total CHCCS 1,600,000 5,666,162 Im act Fees Total CHCCS - 5,546,588 Impact Fees Total CHCCS - 4,915,093 Impact Fees Total CHCCS - 5,117,571 Impact Fees Allocation - County Allocation - County Allocation - County Allocation - County Allocation - ( Sales Tax 2,321,695 Sales Tax 3,687,262 Sales Tax 3,002,714 Sales Tax 5,547,502 Sales Tax Equivalent of One Cent on property tax 1,162,650 Equivalent of One Cent on property tax 1,162,650 Equivalent of One Cent on property tax 1,162,650 Restricted - County Restricted - County Restricted - County Restricted - County Restricted - ( Transfer from General Fund Human Services 50,000 Transfer from General Fund Human Services Transfer from General Fund Human Services Transfer from General Fund Human Services Transfer from Transfer from General Fund Utilities Extension 50,000 Transfer from General Fund Utilities Extension Transfer from General Fund Utilities Extension Transfer from General Fund Utilities Extension Transfer from Transfer from General Fund for Lands Legacy Total County 100,000 3,684,345 Transfer from General Fund for Lands Legacy Total County 4,849,912 1 Transfer from General Fund for Lands Legacy Total County 4,165,364 Transfer from General Fund for Lands Legacy Transfer from Total County 5,547,502 3/31/2005 8:41 3/31/2005 8:41 3/31 /2005 8:41 3/31 /2005 8:41