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CIP Revenues and Transfers
<br />As part of the Mid -Term CIP, staff conducted a review of overall revenues and expenditures
<br />included in the Capital Improvement Program. Adjustments have been made to reflect
<br />construction activity as projected by the City Planning Department, interest earnings and
<br />modified transfers to assure the accuracy of revenue projections. Based on these projections
<br />including development fees and gas taxes, grants and transfers over the next four years of the
<br />program have been amended as follows:
<br />Revenue
<br />Projected Revenue Estimates
<br />FY 2000 01/2003 -04
<br />As indicated above, total estimated revenue for the next four years of the Capital
<br />Improvement Program exceeds projections made for the same period last year by $6,509,881
<br />(9.47 This change results primarily from the following conditions:
<br />The available beginning fund balance has increased by $3,093,275 (27.91 to a total
<br />of $14,174,598. This change results from the close out of previously funded CIP
<br />projects completed under budget, increases in interest earnings and adjustments to
<br />miscellaneous revenues received during this fiscal year. In addition, the fund balance
<br />for Streets projects includes $450,000 from regional TVTD fees. This revenue has
<br />been placed in a TVTD project reserve for programming in future years.
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<br />As Projected
<br />in CIP
<br />Amended
<br />Mid-Tenn
<br />Change
<br />Change
<br />Beginning Balance
<br />$11,081,323
<br />$14,174,598
<br />27.91%
<br />$3,093,275
<br />Gas Tax
<br />$5,793,258
<br />$5,793,258
<br />0.00%
<br />$0
<br />Development Fees- Non Utility
<br />$3,346,959
<br />$3,101,025
<br />-7.93%
<br />$245,934
<br />Development Fees Utility
<br />$612,112
<br />$643,738
<br />5.17%
<br />$31,626
<br />Development Contributions
<br />$1,241,700
<br />$1,241,700
<br />0.00%
<br />$0
<br />Grants
<br />$4,000,000
<br />$4,000,000
<br />0.00%
<br />$0
<br />Donations
<br />$500,000
<br />$500,000
<br />0.00%
<br />$0
<br />Annual General Fund
<br />$22,000,000
<br />$22,000,000
<br />0.00%
<br />$0
<br />Storm Drain
<br />$500,000
<br />$500,000
<br />0.00%
<br />$0
<br />Utility User Fees
<br />$17,720,716
<br />$17,720,716
<br />0.00%
<br />$0
<br />Transfers
<br />$138,000
<br />$363,000
<br />163.04%
<br />$225,000
<br />Interest
<br />$1,807,247
<br />$5,213,161
<br />188.46%
<br />$3,405,914
<br />Total
<br />$68,741,315
<br />$75,251,196
<br />9.47%
<br />$6,509,881
<br />CIP Revenues and Transfers
<br />As part of the Mid -Term CIP, staff conducted a review of overall revenues and expenditures
<br />included in the Capital Improvement Program. Adjustments have been made to reflect
<br />construction activity as projected by the City Planning Department, interest earnings and
<br />modified transfers to assure the accuracy of revenue projections. Based on these projections
<br />including development fees and gas taxes, grants and transfers over the next four years of the
<br />program have been amended as follows:
<br />Revenue
<br />Projected Revenue Estimates
<br />FY 2000 01/2003 -04
<br />As indicated above, total estimated revenue for the next four years of the Capital
<br />Improvement Program exceeds projections made for the same period last year by $6,509,881
<br />(9.47 This change results primarily from the following conditions:
<br />The available beginning fund balance has increased by $3,093,275 (27.91 to a total
<br />of $14,174,598. This change results from the close out of previously funded CIP
<br />projects completed under budget, increases in interest earnings and adjustments to
<br />miscellaneous revenues received during this fiscal year. In addition, the fund balance
<br />for Streets projects includes $450,000 from regional TVTD fees. This revenue has
<br />been placed in a TVTD project reserve for programming in future years.
<br />56
<br />Mat
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