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OPERATING AND CAPITAL BUDGET - Fayette County Government

OPERATING AND CAPITAL BUDGET - Fayette County Government

Classification of

Classification of Projects Capital project – the acquisition of any asset or construction project with an anticipated cost of $5,000 to $49,999 and an estimated useful life of three years or more. Capital projects usually do not require multi-year funding. If a construction project, construction is usually completed during the fiscal year when it was approved. CIP project – is a major capital project with an anticipated cost of at least $50,000 and a long estimated useful life. Projects that require multi-year funding are classified as CIP projects. If a construction project, its completion usually takes more than one year. Funding of Capital/CIP Projects Fayette County usually funds capital/CIP projects in three ways: 1) Pay-as-you-go philosophy that often results in transfers of monies from operating funds as needed on an annual basis 2) use of debt such as bonds, certificates of participation, or lease purchase agreements 3) use of a specific source of revenue other than general revenues such as grants impact fees, donations, or the Special Purpose Local Option Sales Tax (S.P.L.O.S.T.) For the past few years, due to decreasing revenue streams as a result of the downturn in the economy, Fayette County has begun to fund new projects from capital and CIP fund balance or from monies made available from previously approved projects that have been already completed. Funds Fayette County utilizes separate funds to account for capital/CIP projects. These funds are multiyear funds were appropriations are approved for the length of each project. Operating transfers from the various operating funds are made annually, as needed, to these funds. The following are the funds that are used to account for capital/CIP projects: Capital Projects Fund – used to account for approved capital projects. Each project is assigned a unique project number. Capital Improvement Program – used to account for approved CIP projects. Each project is assigned a unique project number. Other Capital Projects funds – these funds are also multi-year funds used to account for expenditures incurred for a specific purpose: Early Warning Siren Construction fund, Kenwood Park Construction fund, and Criminal Justice Center Construction fund. Other Funds – Water System projects are accounted for in the Water System Fund and Solid Waste projects are accounted for in the Solid Waste Fund. Stormwater Management projects are accounted for in the Stormwater Projects fund. The Water System, Solid Waste, and 83

Stormwater Management are enterprise funds that generate their own revenues and fund their own projects. The Vehicle/Equipment Fund, an internal service fund, accounts for the acquisition of vehicles and certain types of equipment that are assigned a project number. The project number serves as a “cost center” to properly account for all expenditures incurred in acquiring and getting the vehicle or the piece of equipment ready for its intended use. Financial Impact on the Operating Budget The potential operating impact of capital projects is carefully considered during the Capital Budget process. Requests for capital and CIP projects from the departments should include the estimated impact that these projects will have, if any, on current and future operating budgets. The initial acquisition cost of the project plus any operating expenditures to be incurred over the lifetime of the facility or equipment are reviewed and taken into consideration during the process of budget recommendations, budget proposal, and final budget approval by the Board of Commissioners. Capital projects that are intended for repairs and/or minor improvements of existing facilities or equipment usually do not carry significant operating impacts. Major capital and CIP projects that are intended for the construction of new facilities, major renovation projects, or the acquisition of expensive equipment, may require additional maintenance and operating expenses, the hiring of new personnel, or the issuance and repayment of debt. The impact on operations (net of measurable savings) of approved capital and CIP projects was included by the county departments in their operating budget requests and the final FY 2013 approved operating budget (see pages 101-102 for detail impact). Major Capital/CIP Projects Approved in FY 2013 The projects that fall under the General Government function, six projects, total of $511,000 in FY 2013. The following is the major project approved: Strategic Technology Plan (STP) Initiative, five projects, total of $366,000 in FY 2013. This initiative entails a 5-year plan for future technology initiatives and recommendations to reduce risks associated with information technology. The plan includes the following projects in FY 2013: addition of an intrusion detection system, replacement of approximately 25% of all computers/laptops/printers, replacement of servers, replacement of data storage units, and the standardization for all Microsoft products. The total cost of the STP Initiative, including FY 2012 the first year of the plan’s implementation, is approximately $1.2 million. There is one project that falls under the Judicial function: the Criminal Justice Center/ Completion of the 3 rd Floor, $250,000 in FY 2013. This project calls for appropriations over the next 6 years of $3.0 million. The scope and estimated cost of the construction are unknown at this time. These amounts will be appropriated annually until a final estimate is presented and approved by the Board of Commissioners. The projects that fall under the Public Safety function, twenty projects, total $2.496 million in FY 2013. The major projects are the following: 84

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