COM 0112.000 2010-2012 - Laserfiche WebLink

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William P. Kenoi Mayor County of Hawaii 25 Aupuni Street,* Hilo, Hawaii 96720 • (808) 961 -8211 • Fax (808) 961 -6553 KONA: 75 -5722 Hanama Place, Suite 102 • Kailua -Kona, Hawaii 96740 (808) 329 -5226 • Fax (808) 326 -5663 March 1, 2011 The Honorable Dominic Yagong, Chair and Members of the County Council Hawai'i County Council 25 Aupuni Street Hilo, HI 96720 Dear Chairman Yagong and Council Members: William T. Takaba Managing Director Walter K.M. Lau Deputy Managing Director 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 FY 2011- 12 to 2016 - 17 for your information. The Capital Budget includes 45 projects requiring a total appropriation of $177,085,000. 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 $168,980,000 are intended to be funded in whole or part by bonds, $5,715,000 to be funded by State Revolving Fund Loans, $1,140,000 to be funded from Federal Grants Receivable, and $1,250,000 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. County of Hawai'i is an Equal Opportunity Provider and Employer t 13 a ( 3 0 1 Comm. No. J Ref. To; Ref, Dw-e 0 1 2 011