HomeMy WebLinkAboutAssumptions for 5 year forecastAssumptions:
Revenues Permits and fees per 5 year forecast
Granada $10K/lot - 44 in FY 14-15; 40 in FY 15-16
3% - Sales Tax
2% - All remaining revenue
No Entrada revenue
Taxes Avg home value 1,200,000$
Tax Rate $0.15684
Taxes assessed 2 years from year of permit
Bonds 20 year bonds - 2.977% - $70K per $1M
30 year bonds - 3.468% - $56K per $1M
FY 2014-15 CO = $11,750,000 - Includes purchasing land and design for Town Hall/Fire Complex/Roanoke Rd/Phase II
FY 2015-16 CO = $13,600,000 = includes completion of all buildings
$18,350,000 Town Hall/Fire Complex/Roanoke Road - Total payments for both bonds $1,025,714
$7,000,000 WA Phase II - Total payments - Total payments for both bonds $393,886
Expenditures Includes impact to budget regarding all proposed CIP
Reduces Solana and Fire Department current expenditure
Prior year 5-year personnel and IT forecast
Westlake Academy reserve - $300K/annually
3% - All expenditures
Transfers Transfer from GF to CPF of $1M receipts in permits for 14/15-15/16-16/17 (Based on 5 year forecast )
Granada fees in Economic Development Fund and service debt payments for WA Phase II paid for 2 2.25 years
Annual transfers to Maintenance and Replacement Funds
CIP All funded with cash except Municipal Building/Fire Station Complex/WA Phase II/Roanoke Road
Total allocation of CIP - Cash 20%; Contributions 3%; Bonds 77%