Res-2018-177 Distressed Sales and Use Tax Cle Elum

Home Browse Search

Car,,ltal Facilities 1. County enterprise fimds have been established for certain County Deparbnents such as the Solid Waste Department. Euterprise funds are financing from: • Debt to be repaid by user fees and charges and/or connection or capacity fees for enterprise services. • Current assets (i.e., reserves, equity or surpluses, and current revenue, including grants, loans, donations and interlocal agreements). • A combination of debt and current assets. 2. Non-enterprise funds are financed from: • Current assets: (i.e., current revenue. fund equity and reserves) • Debt (see County's debt management policy) • Combination of current assets and debt. The: County is guided by the following three principles in selecting a funding source tor public facility improvements: 1. Equity: Whenever appropriate, the beneficiaries of a project or service will pay for it. For example, if a project is a general function of government that benefits the entire community, such as a school, police station, or libnuy, the project will be paid for with general tax revenues or fin811Cled with general obligation bonds. I( however, the project benefits specific users, such as water and sewer facilities, the revenues will be derived through user fees or charges, targeted taxes, and assessments. 2. Effectiveness: In selecting a source or sources for financing projects, the County will select one or more that effectively funds the total cost of the project. For example, fimding a capital project, or the debt service on a project, with a user fee that does not provide sufficient funds to pay for the project is not an effective means of ftmding the project. 3. E.lflcla,cy: If grants or current revenues are not available to fund a project, the County will select a financing technique that provides for the lowest total cost consistent with acceptable risk factors and principals of equity and effectiveness. These methods currently consist of fixed~rate general obligation or revenue bonds issued by the County, special funding programs funded by state or federal agencies, or special pool financing. When public facility improvements are located both in the City and Urban Growth Areas, the County and City can jointly sponsor the formation of Local Improvement Dis1ricts, Road Improvement Districts. and other benefit areas for the construction or reconstruction of infrastructure to a common standard. When Funding is Unavailable If revenues that require voter approval in a local referendum that has not been held or is held and is not successful, the CIP will be revised at the next annual amendment to adjust for the lack of such revenues, in any of the following ways: • Reduce the level of service for one or more public facilities; • Increase the use of other sources of revenue; • Decrease the cost, and therefore the quality of some types of public facilities while retaining the quantity of the facilities that is inherent in the standard for level of service; • Decrease the demand for and subsequent use of public facilities; • A combination of the above alternatives. Kittitas County Comprehensive Plan 5.7 December 2016