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Ails <br /> William P. Kenoi >'r,.`! /, • William T. Takaba <br /> Mayor 'mss Managing Director <br /> IjrF <br /> Walter K.M. Lau <br /> County of Hawa ° "`rMnnng,rrgD;,e" <br /> 25 Aupuni Street,• Milo, Hawaii 96720 • (808) 961 -8211 • Fax (808) 961-6553 <br /> KONA: 75-5722 Hanama Place, Suite 102 • Kailua -Kona, Hawai'i 96740 <br /> (808) 329-5226 • Fax (808)326 -5663 <br /> 0 ° <br /> March 1, 2010 :—+ P <br /> The Honorable J Yoshimoto, Chair <br /> and Members of the County Council - ' 171 <br /> • Hawai'i County Council <br /> 25 Aupuni Street r <br /> Hilo, HI 96720 <br /> Dear Chairman Yoshimoto and Council Members: <br /> Transmitted herewith is the Capital Budget for FY 2010 -2011 submitted for your review and <br /> • approval, and the Capital Improvements Program for the next six years from FY 2010 - 11 to <br /> • 2015 - 16 for your information. The Capital Budget includes 39 projects requiring a total <br /> appropriation of $127,603,000. <br /> Funding Sources <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 $113,426,100 is <br /> intended to be funded in whole or part by bonds, $14,175,000 to be funded from Federal <br /> Grants Receivable, and $1,900 to be funded by fair share contributions (see Table 1). <br /> Debt Service <br /> Every year, we strive to present a budget that is fiscally constrained (in terms of prudent debt <br /> service planning) and selective based on rational criteria. The Government Finance Officers <br /> Association, a professional organization of government officials, recommends a prudent debt <br /> service limit to be 15% of general expenditures. <br /> County of Hawai'i is an Equal Opportunity Provider and Employer <br /> K$;\ a+a") <br /> Comm, No. <br /> 3 Ref. To: F <br /> Ref. Date MAR 0 1 Vila <br />