COM 0124.025 2004-2006 - Laserfiche WebLink

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Honorable Virginia Isbell and Members of [he Committee on Finance Page 4 March 24, 2005 Miscellaneous 1. Debt Service -Why does debt service reflect an increasing trend through FY 2005-06,then decreases in FY 2006-07? Response: The FY 2005-06 budget includes the final payment for the 1999B refunding bond. Because of this payoff, debt service will drop in FY 2006-07. 2. Debt Service -What is the debt service ratio for FY 2003-04 and how does it compare to previous years? Response: 2004 9.9% 1999 9.7% 2003 9.9% 1998 8.9% 2002 9.6% 1997 8.9% 2001 10.4% 1996 8.1 2000 10.5% 1995 8.3% 3. Are there plans to float additional Government Obligation Bonds in FY 2005- 06? How much and what for? Response: Although $800,000 was set aside for debt service during FY 2005-06, the Administration has not discussed specific projects and/or amounts. 4. Government Mandates -Can the Finance Committee be briefly brought up to date on what types of government mandates are required (gang cesspools, workers' compensation, ADA, etc.) Also what is the County's share and what is granted from the state and federal governments' share? Response: (We will leave this question for affected departments to answer.) 5. Fund Balance -How does the projected FY 2004-OS Fund Balance compare with the FY 2003-04 Fund Balance? Response: The Fund Balance for FY 2003-04 was $10,385,457; for FY 2004-OS we have projected needing $3,500,000 to balance our budget. This amount is conservative and may be revised when the amended budget is submitted toward the end ot'the fiscal year when information is available to make a more reliable projection. Thank you for the opportunity to review and respond to the these questions prior to our budget meetings. Should you need anything further, please let me know. cc: Dixie Kaetsu, Managing Director Rodney Oshiro/Susan Caseria