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REPORT OF THE <br /> COMMITTEE ON FINANCE <br /> DATE: May 1, 2014 Re: Comm. No. 690/Bill No. 209 <br /> PLACE: Council Chambers <br /> Kona, Hawai`i <br /> TIME: 9:05 a.m. <br /> Council Chair and Members <br /> Hawai`i County Council <br /> Hilo, Hawai`i 96720 <br /> Your Committee on Finance, to which was referred Bill No. 209, reports as follows: <br /> Bill No. 209, transmitted by Mayor William P. Kenoi via Communication No. 690, dated <br /> February 28, 2014, submits for consideration the proposed Capital Budget for Fiscal Year <br /> 2014-15, and the Six-Year Capital Improvements Program for the Fiscal Years 2014-15 to <br /> 2019-20, consisting of 45 projects totaling $95.88 million, of which$3.36 million are Federal <br /> Grants Receivable, $82.025 million are financed in whole or in part through bonds, $1.28 million <br /> to be funded by fair share contributions, and $9.215 million to be funded by the State Revolving <br /> Loan Fund (detailed in Table 1). <br /> Attached to the transmittal are five (5) tables, created to provide a summary of capital budget <br /> projects in different formats: <br /> • List of Projects and Proposed Funding Sources includes proposed projects that are <br /> requesting funds for this fiscal year, what makes them eligible as a capital project, location, <br /> council benefit district, funding source, 6-year forecast of funding needs and total project <br /> costs. <br /> • Capital Project Eligibility List categorizes projects by their eligibility. <br /> • Location of Project by Council Districts indicates the Council district where each project <br /> is located. <br /> • Council Benefit Districts identifies all the Council districts that will benefit from a <br /> particular project. <br /> • Six-Year Capital Program FY 2012-2013 to 2017-2018 lists all projects proposed by an <br /> agency and provides the projected funding forecast for the next six fiscal years and total <br /> estimated cost for each project. This list includes projects that do not require funding next <br /> fiscal year but forecast a funding need within the following five years. <br /> Your Committee originally reviewed the Capital Budget in conjunction with departmental <br /> program reviews on April 2 through April 4, 2014. Pursuant to Section 10-4, Hawai`i County <br /> Charter, the Council also conducted a public hearing on the proposed FY 2014-15 Operating and <br /> Capital Budgets in Kona on April 15, 2014, which was videoconferenced to the Hilo, PThoa, <br /> Kohala and Waimea Council offices. <br /> FC Report No. 171 <br />