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o $440,000 for the Steel Ranch Railroad Underpass project (2013-2014, $550,000
<br /> total, including $110,000 from the Storm Drainage Fund. Of this total amount,
<br /> $250,000 will be offset by a contribution from the Takoda Metro District).
<br /> o $400,000 for the McCaslin & Washington Underpass project (2012-2013, $1.2 million
<br /> total, including $600,000 from the Conservation Trust-Land Acquisition Fund and
<br /> $200,000 from the Water Fund).
<br /> The graph below illustrates the long-term financial forecast for the Capital Projects Fund. This
<br /> forecast is part of the City's Long-Term Financial Plan and includes the same assumptions as
<br /> the General Fund for sales tax revenue, salaries and benefits, and other revenue and
<br /> expenditures.
<br /> Capital Projects Fund Forecast
<br /> Bond Proceeds Revenue Increase
<br /> 10,000,000 and Escrow Includes Transfer
<br /> Funding Costs from General
<br /> Fund($2 million) Includes City Shops.
<br /> 9,000,000 Includes Dillon Road McCaslin&Dillon
<br /> (96th to 104th)and Intersection.McCaslin
<br /> 8,000,000 Rec Centerimprovmts Washington
<br /> Underpass.and South
<br /> 7,000,000 ^ . f Street Underpass
<br /> 6,000,000 Revenue
<br /> 5,000,000
<br /> Expenditures
<br /> Fund Balance
<br /> 4,000,000 • )1/
<br /> Revenue Increase
<br /> 3,000,000 Includes New Ponca Cour — Includes RID
<br /> t
<br /> Building, Community Park Contribution for
<br /> 2,000,000 (Phase!),and Dillon Road South Street
<br /> 1,000,000 (88th to 9Gth) includes BN SF Underpass
<br /> Railroad Underpass ($700.000)
<br /> '
<br /> Includes
<br /> Transfer r
<br /> 4oi c cp cbD°) ps, N to General Fund
<br /> bp '1� '4bQ1� b� ' � `44 `Oy44LQL
<br /> 'b ($1 million)
<br /> Water, Wastewater, and Storm Water Funds (Combined Utility Fund)
<br /> • Water Utility Fund expenses (on a budget basis) are projected to decrease by approximately
<br /> $700,000 in 2012 from 2011 estimates due to a decrease in capital projects. Wastewater
<br /> Utility Fund expenses are projected to increase by approximately $840,000 in 2012 from
<br /> 2011 due to an increase in capital projects. The 2012 budget includes a 6.0% rate increase
<br /> in water fees and a 4.0% increase in wastewater fees, but no increase in storm water fees.
<br /> • The current reserves of the Combined Utility Fund are significant, estimated to be nearly
<br /> $11 million, or 110% of annual expenses including capital, by the end of 2012.
<br /> • The Public Works Department is currently conducting, with the help of a consultant, a utility
<br /> Facilities Plan. Once this plan is complete, a longer-term capital improvements plan will be
<br /> developed. From there, staff will be reviewing with the Water Committee, and ultimately the
<br /> entire City Council, whether it will be appropriate to conduct a utility rate study in the near
<br /> future.
<br /> • The Combined Utility Funds will provide 50% of the funding needed in 2012 ($75,000 for
<br /> design) and 2013 ($1,875,000 for construction) for the City Services Facility project. This is
<br /> consistent with the level of equipment and staff devoted to Water, Wastewater and Storm
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