City Council Agenda and Packet 2012 10 09 SP

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Conservation Trust Fund • Staff projects total fund revenue will increase at an average annual rate of 1.9% from 2012 through 2017. Operating expenditures are proposed to increase from a 2012 estimate of $1.12 million to a 2013 proposed budget of $1.18 million. From 2012 through 2017, operating expenditures (excluding capital) are projected to increase at an average annual rate of 4.8 %. • The Conservation Trust Fund will provide 25% of the funding needed in 2012 ($37,500 for design) and 2013 ($1,623,650 for construction) for the City Services Facility project. This is consistent with the level of equipment and staff devoted to Open Space, Parks and Trails operations and maintenance that is currently and will continue to be stored and based at that Facility. • The Conservation Trust Fund will provide 50% of the funded needed in 2012 ($85,000 for design) and 2013 ($700,000 for construction) for the McCaslin /Washington Underpass. This is consistent with the significant connection that the underpass will provide between the Davidson Mesa Open Space, the Harper Lake /Leon A. Wurl Wildlife Sanctuary, and the Coyote Run Open Space • Other than contributing a portion of the funding for the City Services Facility, McCaslin /Washington Underpass, and other smaller capital projects, staff has either eliminated or shifted to the General Fund other expenditures that would cause Conservation Trust Fund expenditures to exceed anticipated revenue. As a result, staff expects the Conservation Trust Fund reserves to remain at approximately $4 million through the end of 2017 and provide sufficient resources to fund high priority open space land acquisitions that may become possible during this period. The graph below illustrates the long -term financial forecast for the Conservation Trust — Land Acquisition Fund. This forecast is part of the City's Long -Term Financial Plan and includes the same assumptions as the General Fund for sales and use tax revenue, salaries and wages, and employee benefits. This graph assumes the reauthorization by voters of the existing 0.375% tax for open space and parks. 9,000,000 8,000,000 7,000,000 6,000,000 5.000,000 4,000,000 3,000,000 2,000,000 1,000,000 Conservation Trust- Cpen Space & Parks Fund Forecast Northwest Parkway IGA Grant & Land L Acquisition Northwest Parkway IGA Grant Includes City Services _ ; lncluc i Remodel & McCaslin Ai 'ras In on Underpass Undel Revenue Expenditures Fund Balance es overlook pass 2013 & 2014 12