BIL 030 Draft 02 2010-2012 - Laserfiche WebLink

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��' • +,, . William T. Takaba � �'k Managing Director William P. Kenoi ' • '• • • Mayor ' • = Walter K.M. Lau �r4s %•x•; ? "•��`�= I Deputy Managing Director • • Of County of Hawa Office of the Mayor 25 Aupuni Street, Suite 2603 • Hilo, Hawai`i 96720 • (808) 961 -8211 • Fax (808) 961 -6553 KONA: 74 -5044 Ane Keohokalole Hwy., Bldg. C • Kailua -Kona, Hawai`i 96740 (808) 323-4444 • Fax (808) 323 -4440 - May 5, 2011 - The Honorable Members of the Hawaii County Council J County of Hawaii 25 Aupuni Street Hilo, HI 96720 Dear Council Members: Transmitted herewith is the Capital Budget for FY 2011 -2012 submitted for your review and approval and the Capital Improvements Program for the next six years from FY2011 - 12 to 2016 - 17 for your information. The Capital Budget includes 76 projects requiring a total appropriation of $137,999,000. Funding Sources Capital projects are typically funded by debt (bonds, State Revolving Fund loans), revenue sources (fuel tax, other special revenues), state grants, federal grants or loans, and other financing options (fair share contributions or special financing districts). The Capital Budget presented herein includes capital projects of which approximately $126,705,000 are intended to be funded in whole or part by bonds, $7,515,000 to be funded by State Revolving Fund Loans, $1,140,000 to be funded from Federal Grants Receivable, $2,619,000 to be funded by fair share contributions, and $20,000 to be funded by private donations (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. <at 3a Dr. a Comm. No. 11 2. County of Hawai`i is an Equal Opportunity Provider and Employer. U�Y141 � � �l calms y Ref. To: � i Ref. Date it - 5