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FUNDING GAP
<br />Using the projected revenues and expenditures, a baseline picture was generated of the total revenue
<br />availability based on current financial policies for the next 6 and 20 years. This is shown in Exhibit 12.
<br />Some of the County's transportation revenue sources are specifically earmarked for capital purposes.
<br />These include federal grants, state grants, and any Road Fund allocations to support those grants (an
<br />average of about 20 percent per grant). As shown in Exhibit 12, the transportation program has been
<br />very dependent on federal and state grants. Future revenue projections are based on historical grant
<br />numbers, and it is important to understand that these revenue sources are uncertain and not guaranteed
<br />in the future.
<br />To account for the capital -restricted funds in our analysis, we assume Road Fund allocations to match
<br />grants average 20 percent of grant funds. This estimated minimum match for grants is included under
<br />capital -restricted funds in the exhibit below.
<br />Exhibit 12. Total Projected Transportation Financial Capacity for Operating Expenditures and Capital Projects,
<br />2018 to 2037 (2018$)
<br />Total Available for Operating Expenditures $ 37,430,000 $ 25,294,200: $ 62,724,200 $ 67,087,400 i $ 729,811,600
<br />Total Projected Operating Expenditures $ 48,636,000 $ 33,372,000 $ 82,008,000 $ 88,456,000 $ 170,464,000
<br />Projected Operating Expenditures Surplus $ (11,206,000) $ (8,077,800) $ (19,283,800) $ (21,368,600)' $ (40,652,400)
<br />or Deficit E
<br />Total Available for Capital $ 23,03D,000 $ 15,340,800 $ 38,350,800 $ 38,349,600 $ 76;700,400
<br />Sources: Kittitas County Public Works 2016; BERK Consulting 2018.
<br />Note: These figures are rounded to the nearest 1,000.
<br />After accounting for capital -restricted funds, Exhibit 12 shows that in the 6 -year period, approximately
<br />$23 million in revenue is capital -restricted. This means that only $37 million of the $49 million needed for
<br />operating expenditures is available. This is a starting deficit of $11 million in the 6 -year period for
<br />operating activities, which is an additional funding need of around $2 million annually.
<br />��'� May 22, 2018 Kittitas County Public Works 120 -Year TIP Fiscal Sustainabilify Strategy: Final Report 14
<br />2018-2023
<br />2024-2027
<br />10 -Year Total,
<br />2028-2037 20 -Year Total,
<br />2018 -. 2027
<br />2018-2037
<br />(Years 1- 6)
<br />(Years 7 - 10)
<br />(Years 1-10)
<br />(Years 11- 20)
<br />(Years 1- 20)
<br />Total Revenues
<br />$
<br />60,440,000
<br />$
<br />40,635,000
<br />$
<br />101,075,000
<br />$ 105,437,000 $
<br />206,512,000
<br />Capital Only Funds
<br />Federal Grants
<br />$
<br />11,192,000
<br />$
<br />7,462,000:
<br />$
<br />18,654,000
<br />$ 18,654,000 I $
<br />37,308,000
<br />State Grants
<br />$
<br />7,983,000
<br />$
<br />5,322,000
<br />$
<br />13,305,000
<br />$ 13,304,000 $
<br />26,609,000
<br />Estimated Minimum Match for Grants (20%)
<br />$
<br />3,835,000
<br />$
<br />2,556,800 $
<br />6,391,800
<br />$ 6,391,600 $
<br />12,783,400
<br />Total Restricted to Capital
<br />$
<br />23,010,000
<br />$
<br />15,340,800
<br />$
<br />38,350,800
<br />$ 38,349,600 ! $
<br />76,700,400
<br />Total Available for Operating Expenditures $ 37,430,000 $ 25,294,200: $ 62,724,200 $ 67,087,400 i $ 729,811,600
<br />Total Projected Operating Expenditures $ 48,636,000 $ 33,372,000 $ 82,008,000 $ 88,456,000 $ 170,464,000
<br />Projected Operating Expenditures Surplus $ (11,206,000) $ (8,077,800) $ (19,283,800) $ (21,368,600)' $ (40,652,400)
<br />or Deficit E
<br />Total Available for Capital $ 23,03D,000 $ 15,340,800 $ 38,350,800 $ 38,349,600 $ 76;700,400
<br />Sources: Kittitas County Public Works 2016; BERK Consulting 2018.
<br />Note: These figures are rounded to the nearest 1,000.
<br />After accounting for capital -restricted funds, Exhibit 12 shows that in the 6 -year period, approximately
<br />$23 million in revenue is capital -restricted. This means that only $37 million of the $49 million needed for
<br />operating expenditures is available. This is a starting deficit of $11 million in the 6 -year period for
<br />operating activities, which is an additional funding need of around $2 million annually.
<br />��'� May 22, 2018 Kittitas County Public Works 120 -Year TIP Fiscal Sustainabilify Strategy: Final Report 14
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