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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%