COM 0605.000 2010-2012 - Laserfiche WebLink

Home

Honorable Members of the County Council March 1, 2012 Page 2 The lower the interest rate and the greater the revenues, the more can be borrowed while staying within the prudent debt service limits. The proposed operating budget for this coming fiscal year includes debt service for short term bond anticipation notes, which are used to reduce carrying cost and insure that cash will be available for projects as needed. As budgeted, the resulting total debt service is estimated at 8.92% of the general expenditures. If all debt that has been authorized by the County Council was issued, the debt service percentage would be 11.35% of the general expenditures. What is a Capital Improvement Project? A project is eligible for funding from the capital budget if it is a major nonrecurring expenditure, such as: 1. Land acquisition; 2. Infrastructure improvement other than buildings that add value to the land or improves utility (roads, drainage, sewer lines, parking, landscape or similar construction); 3. New buildings or structures or additions to buildings, including related equipment and appurtenances which are integral to the new structure; • 4. Nonrecurring rehabilitation, remodeling or expansion of infrastructure and buildings; 5. Planning, feasibility, engineering, or design studies related to capital improvement projects; 6. Information and communications technology infrastructure. Tables Five (5) tables were created to provide a summary of capital budget projects in different formats: Table 1. List of Projects and Proposed Funding Sources includes proposed projects that are requesting funds for this fiscal year, what makes them eligible as a capital project, location, council benefit district, funding . source, 6-year forecast of funding needs and total project costs. Table 2. Capital Project Eligibility List categorizes projects by their eligibility. Table 3. Location of Project by Council District indicates the Council District that the project is located in. County of Hawaii is an Equal Opportunity Provider and Employer.