FY2021 Adopted Budget

Capital Improvement Program Introduction Table 1 compares debt capacity available to the debt capacity needed in order to maintain the current “updated” CIP. As Table 1 shows, CIP update submission for Capital funds was not within the County’s ability to meet the needs and still remain within the established Debt Affordability. Therefore, some projects were delayed or eliminated. Table 2 compares debt capacity available to the debt capacity needed to fund the approved FY2021-2026 CIP. NOTE: “Updated CIP” takes the current CIP (FY2020-2025) and updates the costs based on current construction costs.

Table 1

Projected General Fund Debt Affordability VERSUS Updated CIP Projects for FY 2021-2026 ($ millions)

Total Debt Cap

FY 21

FY 22

FY 23

FY 24

FY 25

FY 26

362.23 387.04 -24.81

Affordable Debt Updated Debt Cumulative Excess (Deficit)

87.39

51.15

52.52

56.29

59.66

55.22

72.95*

58.85*

50.24*

61.63*

75.78* -12.44

67.59* -24.81

14.44

6.74

9.02

3.68

*adjusted for deficiency in pay-go funding which would need to be supplemented with debt funding

Table 2

Projected General Fund Debt Affordability VERSUS Approved FY 2021-2026 CIP ($ millions)

Total Debt Cap

FY 21

FY 22

FY 23

FY 24

FY 25

FY 26

Affordable Debt Approved Debt Cumulative Excess (Deficit)

87.39 57.95 29.44

51.15 73.61

52.52 55.23

56.29 42.56 18.00

59.66 72.04

55.22 48.26 12.58

362.23 349.65

6.98

4.27

5.62

12.58

493