Agenda 09/13/2011 Item #16C 1r
9/13/2011 Item 16.C.1.
EXECUTIVE SUMMARY
Recommendation to authorize budget amendments in the amount of $671,077 to
transfer various projects between the water and wastewater capital funds in order
to spend down and close out the 2006 Revenue Bond Proceeds Fund.
OMCTIVE: That the Board of County Commissioners (Board) authorize budget
amendments of $671,077 to transfer various projects in order to spend down and close
out the 2006 Revenue Bond Proceeds Fund.
CONSIPMTIUNS On November 14, 2006, under Agenda Item 101, the Board
authorized the Collier County Water -Sewer District (District) to issue Revenue Bonds,
Series 2006, in the aggregate principal amount not to exceed $120,000,000. Public
Utilities Division staff worked with the County's Finance Committee and Financial
Advisor, and ultimately received $112,290,277.35. Of the total amount, $65,248,635.56
was earmarked to fund capital projects, and $38,000,000 to pay off existing commercial
paper loans. The balance of $9,041,641.79 was applied toward a reserve for debt service,
underwriters discount, capitalized interest, and cost of issuance.
To facilitate the closure of the 2006 Revenue Bond Proceeds Fund (415) and spend down
the remaining funds of approximately $671,077, budget amendments are required to
move projects into and out of the 2006 Revenue Bond Proceeds Fund (415) as follows:
70892 SCRWTP Weilfield Expansion Pump Station Improvement $583,586
Currently budgeted in 2006 Revenue Bond Proceeds Fund (415)
Transfer project to Water Impact Fee Fund (411)
73050 Wastewater Line Technical Support Project $671,077
Currently budgeted in Wastewater User Fee Fund (414)
Transfer project expenses to 2006 Revenue Bond Proceeds Fund (415)
99415 Reserves in the 2006 Revenue Bond Proceeds Fund
Remaining reserve balance will be re- appropriated into 73050 Wastewater Line
Technical Support Project
This approach of moving project budgets /expenses between the various Water -Sewer
Capital Project Funds and the 2006 Revenue Bond Proceeds Fund (415) has been
reviewed and approved by the Finance Committee on August 26, 2011.
FISCAL Il►�I._. ACT: Budget amendments are needed to move the SCRWTP Wellfield
Expansion project (70892) from the 2006 Revenue Bond Proceeds Fund (415) to the
Water Impact Fee Fund (411), in the amount of $583,585.95. In addition, a budget
amendment is needed in the 2006 Revenue Bond Proceeds Fund (415) to increase the
Wastewater Line TSP Project (73050) to $671,077 and reduce reserves.down to $0.
The proposed budget amendments do not change the overall budget amounts or the intent
of the projects.
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9/13/2011 Item 16.C.1.
LEGAL CONSIDERATION: This item does not present any legal issues. It requires a
majority vote for approval. - JBW
GROWTH MANAGEMENT EWPACT: None.
RECOMMENDATION: That the Board of County Commissioners, as the Ex
Officio Governing Board of the Collier County Water- Sewer District, approve all the
necessary budget amendments to close the 2006 Revenue -Bond Proceeds Fund.
PREPARED BY Bala M. Sridhar, Senior Management & Budget Analyst, Public
Utilities - Operations
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9/13/2011 Item 16.C.1.
COLLIER COUNTY
Board of County Commissioners
Item Number: 16.[.1.
Item Summary: Recommendation to authorize budget amendments in the amount of
$671,077 to transfer various projects between the water and wastewater capital funds in order
to spend down and close out the 2006 Revenue Bond Proceeds Fund.
Meeting ng Date: 9/13/2011
Prepared By
Name: SritharBala
Title: Management/Budget Analyst, Senior,Utilities Financ
8/4/201 L 1:51:56 PM
Submitted by
Title: Management/Budget Analyst, Senior,Utilities Financ
Name: SridbarBala
8/4/2011 1 :51:57 PM
Approved By
Name: HapkeMargie
Title: VALUE MISSING
Date: 8/10/20113:38:03 PM
Name: WidesT4in
Title: Director - Operations Support - PUD,Utilities Fina
Date: 8/1112011 10:51:31 AM
Name: WhiteJennifer
Title: Assistant County Attorney,County.Attorney
Date: 9/17/20114:49:24 PM
Name: YilmazGeorge
Title: Director Wastewater,Wastewater
f�1 Date: 8/23/2011 10:08:41 AM
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9/13/2011 Item 16.C.1.
Name: KlatzkowJe€f
Title: County Attorney,
Date: 8/25/20113:33:46 PM
Name: UsherSusan
Title: Management/Budget Analyst, Senior,Office of Manage
Date: 9/1/20114:52:52 PM
Name: KatzkowJeff
Title: County Attorney,
Date: 9/2/2011 2 :34:16 PM
Name: IsacksonMark
Title: Director -Corp Financial and Mgmt Svs,CMO
.Date: 9/2/20114:17:50 PM
s
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