FY2023-FY2028 Adopted Capital Improvement Program

FY2023 Adopted Budget Capital Improvement Program

Introduction Tabl e 1 compares debt capacit y availabl e t o th e debt capacit y needed in orde r t o maintai n th e current updated CIP . As Tabl e 1 shows , CIP updat e submission for Capital funds was not within th e County s abilit y t o meet th e needs and still remain within th e established Debt Affordability. Therefore , som e project s were delayed o r eliminated. Table 2 compares debt capacit y availabl e to th e debt capacit y needed to fun d the approved FY2023 202 8 CIP .

NOTE: Update d CIP takes th e current CI P (FY2023 2028) an d update s th e costs base d o n current constructio n costs .

Table 1

Projecte d General Fund Debt Affordabilit y VERSU S Update d CIP Projects for F Y 2023 2028 ($ millions )

Total Debt Cap

F Y 23

FY 24

FY 25

F Y 26

F Y 27

F Y 28

400.14 408.02

Affordabl e Debt Update d Debt Cumulative Excess (Deficit)

99.32

61.1 2

65.37

47.3 5

70.77

56.21

71.98 *

68.87*

74.99 *

68.06* 10.74

61.02 *

63.10 *

27.34

19.5 9

9.97

0.99

7.88

7.88

*adjusted for deficienc y i n pay g o fundin g whic h woul d nee d t o be supplemente d wit h debt fundin g

Table 2

Projecte d General Fund Debt Affordabilit y VERSUS Approve d F Y 2023 2028 CIP ($ millions )

Total Debt Cap

F Y 23

F Y 24

FY 25

FY 26

FY 27

F Y 28

400.14 391.32

Affordabl e Debt Approve d Deb t Cumulative Excess (Deficit)

99.32 84.22 15.12

61.12 71.05

65.37 67.99

47.3 5 51.5 3 1.61

70.77 71.58 2.42

56.21 44.97

5.19

2.5 7

8.82

8.82

30