COM 0712.002 2008-2010 - Laserfiche WebLink

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;#1 " William P. Kenoi *E6:1.:** ,:ft William T. Takaba Mayor '�r ,. Managing Director • Walter K.M. Lau C OWI o f (` . 1aknn t Deputy Managing DireGOr 25 Aupuni Street,• Hilo, Hawaii 96720 • (808) 961 -8211 • Fax (808) 961 -6553 KONA: 75 -5722 Hanama Place, Suite 102 • Kailua -Kona, Flawai`i 96740 (808) 329 -5226 • Fax (808) 326 -5663 7 O o n May 5, 2010 The Honorable J Yoshimoto, Chair and Members of the County Council `7.7 (T o Hawai'i County Council t 0 25 Aupuni Street Hilo, HI 96720 Dear Chairman Yoshimoto and Council Members: Transmitted herewith is the Capital Budget for FY 2010 -2011 submitted for your review and approval, and the Capital Improvements Program for the next six years from FY 2010 -11 to 2015 - 16 for your information. The Capital Budget includes 80 projects requiring a total appropriation of 5144,666,000. Funding Sources Capital projects are typically funded by debt (bonds, State Revolving Fund loans), revenue sources (fuel tax, other special revenues), state grants, federal grant or loans, and other financing options (fair share contributions or special financing districts). The Capital Budget presented herein includes those capital projects of which approximately $139,739,100 is intended to be funded in whole or part by bonds, $4,925,000 to be funded from Federal Grants Receivable, and $1,900 to be funded by fair share contributions (see Table 1). Debt Service • Every year, we strive to present a budget that is fiscally constrained (in terms of prudent debt service planning) and selective based on rational criteria. The Government Finance Officers Association, a professional organization of government officials, recommends a prudent debt service limit to be 15% of general expenditures. <a,;� ai a, Or a�County of Hawaii is an Equal Opportunity Provider and Employer Comm. No 1 Ref. To: U3•tA1U 3 Ref. pore MAY 0 6 10tH