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<br /> <br /> <br /> ,MYY Oi N4 <br /> <br /> <br /> William P. Kenoi i. William T. Takaba <br /> Mayor _ Maneging Director' <br /> <br /> Walter K.M. Lau <br /> County of Hawai`I Depun, Managing Director <br /> 891 Ululani Street • Hilo, liawai`i 96720-3982 • (808) 961-8211 • Fax (808) 961-6553 <br /> KONA: 75-5706 Kuakini Highway. Suite 103 • Kailua-Kona, Hawaii 96740 <br /> (808) 329-5226. Fax (808) 326-5663 <br /> N <br /> G.. <br /> C] <br /> l) co <br /> May 5, 2009 0 <br /> > -c <br /> The Honorable J Yoshimoto, Chair ' <br /> and Members of the County Council <br /> Hawaii County Council ? 3 <br /> 333 Kilauea Avenue <br /> Hilo, HI 96720 ' c <br /> Dear Chairman Yoshimoto and Council Members: <br /> <br /> Transmitted herewith is the Capital Budget for FY 2009-2010 submitted for your review and <br /> approval, and the Capital Improvements Program for the next six years from FY 2009 - 10 to <br /> 2014 - 15 for your information. The Capital Budget includes 52 projects requiring a total <br /> appropriation of $203,386,000. <br /> <br /> <br /> Funding Sources <br /> <br /> Capital projects are typically funded by debt (bonds, State Revolving Fund loans), revenue <br /> sources (fuel tax, other special revenues), state grants, federal grant or loans, and other <br /> financing options (fair share contributions or special financing districts). The Capital Budget <br /> presented herein includes those capital projects of which approximately $173,717,000 is <br /> <br /> intended to be funded in whole or part by bonds, $8,219,000 to be funded by the State <br /> Revolving Fund and $21,900,000 to be funded from Federal Grants Receivable (see Table 1). <br /> <br /> <br /> Debt Service <br /> <br /> Every year, we strive to present a budget that is fiscally constrained (in terms of prudent debt <br /> service planning) and selective based on rational criteria. The Government Finance Officers <br /> Association, a professional organization of government officials, recommends a prudent debt <br /> service limit to be 15% of general expenditures. <br /> <br /> <br /> County of Hawaii is an Equal Opportunity Provider and Employer Comm. `io._ I <br /> Ref. To: tl <br /> <'et It 3-7 j at-A~-4 D Ref. Date MAY 0 6 NO <br /> 3 <br />