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OPERATING AND CAPITAL BUDGET - Fayette County Government

OPERATING AND CAPITAL BUDGET - Fayette County Government

Library - Special

Library - Special Purpose Local Option Sales Tax (SPLOST) The fund balance represents the balance of the unspent proceeds generated by the Special Purpose Local Option Sales Tax plus the interest income that has been earned to date. The funds are restricted to the purchase of resource materials and equipment and enhancements to the library. All revenues originally approved have been already collected and the only influx of funds is interest income earned. For FY 2010, a CIP project with an estimated cost of $1.02 million was approved for the expansion of the library building and for the purchase of additional furniture and equipment. Monies for the project will come from fund balance. FY 2008 FY 2009 FY 2010 FY 2011 ACTUAL ACTUAL ESTIMATED PROJECTED Fund Balance, June 30 $ 1,574,368 $ 1,285,096 $ 1,153,393 $ 1,153,393 ENTERPRISE FUNDS Water System In March of 2009, the Board approved a two-step rate increase for the system. The first step took effect in March 2009 and the second step took effect in January 2010. This will generate necessary additional revenue to cover operating expenses and continue to improve water system infrastructure. For FY 2011, fund balance is projected to increase by approximately $0.498 million. In May of 2010 the Fayette County Water System revenue bond rating was upgraded from Aa3 to Aa2 by Moody’s Investor Services. This attests to the sound fiscal policy maintained by Fayette County. FY 2008 FY 2009 FY 2010 FY 2011 ACTUAL ACTUAL ESTIMATED PROJECTED Fund Balance, June 30 $ 77,731,442 $ 76,917,807 $ 77,012,840 $ 77,510,990 Solid Waste For the last three years expenditures have been consistently higher than revenue. Fund balance has been decreasing. At the end of FY 2011, fund balance is projected to still be strong at $1.26 million. II - 30

FY 2008 FY 2009 FY 2010 FY 2011 ACTUAL ACTUAL ESTIMATED PROJECTED Fund Balance, June 30 $ 1,403,527 $ 1,352,879 $ 1,307,208 $ 1,260,654 INTERNAL SERVICE FUND Vehicle/Equipment Fund This fund accounts for the acquisition of vehicles, heavy equipment, and other similar assets. The revenue source for this fund is interest income earned. Another source of funding are transfers from other funds. FY 2008 FY 2009 FY 2010 FY 2011 ACTUAL ACTUAL ESTIMATED PROJECTED Fund Balance, June 30 $ 9,695,285 $ 8,251,192 $ 6,823,639 $ 6,823,639 II - 31

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