2011 budget summary - St. Louis County

EXECUTIVE SUMMARYThe 2011 budget is lower than 2010 becauseSeries 1997 bonds were retired in 2009 (afterthe County Executive’s budget was presented toCouncil) using a portion of the balance of theDebt Service Fund. By retiring these bonds in2009 as opposed to the original maturity dateof 2012, taxpayers saved more than $450,000 ininterest costs.SPIRIT OF ST. LOUIS AIRPORT FUND (1100)The mission of the Spirit of St. Louis Airport is toprovide a safe, efficient, dependable, andattractive first class public facility thatprofessionally serves the flying public, includingthe more than 150 businesses located at theairport. The airport will strive to maintain itsrole as a major air transportation facility for theSt. Louis region while continuing to be aresponsive and responsible neighbor to thesurrounding community. All costs incurred bythe Airport will be funded by income generatedfrom the Airport’s business operations.The 2011 budget for the Spirit of St. LouisAirport Fund is $21,707,101, an increase of$814,885 or 3.9%. This increase is due to higherfuel sales volume.PUBLIC MASS TRANSIT FUND (5620)The 2011 budget for the Public Mass TransitFund is $36,338,429, a decrease of $1.6 millionor 4.1%. This amount is equal to revenueestimated to be received from the a quartercentsales tax designated for publictransportation purposes. All funds received aredistributed to Metro.A new, half‐cent sales tax to support publictransportation was approved by voters andimplemented in 2010. Revenues from this taxwill be appropriated upon the County Council’sreview and approval of an annual contract withMetro which will be submitted in June, 2011.HIGHWAY CAPITAL CONSTRUCTION PROGRAM(5080 AND 5590)The 2011 budget for the Highways and TrafficCapital Construction Program (CCP) is$26,017,000, a decrease of $536,450 or 2%.To support capital activity, the County will usefunds from the following sources:$14,955,000 from the Federal Aid UrbanTrust Fund (5080); and$11,062,000 from the TransportationHighway Fund (5590). This appropriationrequires an allocation of $11.3 million ofsales tax revenues from the TransportationTrust Fund.Table 1 contains a summary of the 2011 WorkPlan and budget. The budget is in accordancewith the Department of Highways and Traffic’s5‐year CCP. The total 2011 CCP budget willsupport construction‐letting activity of $47million. It will allow the County to commenceor continue road, sidewalk and bridge right‐ofwayactivities; let construction contracts(including those for infrastructure projects); andproceed with addressing traffic safety projects.Table 2 conveys the 2011 Capital PreservationBudget as compared to the 2010 adjustedbudget.More information regarding the HighwayCapital Construction Program may be found inthe Capital Improvement Program section ofthis document.- 47 -FISCAL YEAR 2011ADOPTED BUDGET