FY 2010-11 Adopted Budget - Volusia County Government

Where there is sufficient time for planning, the most economical means for project financing can beselected in advance. The CIP can facilitate reliable capital expenditure, revenue estimates, and reasonablebond programs by looking ahead to minimize the impact of capital improvement projects. Keepingplanned projects within the financial capacity of the County helps to preserve its credit rating and makes itmore attractive to business and industry. Thus, the CIP is an integral element of the County’s budgetaryprocess.Capital requests might be necessary to meet the standards established in the Capital Improvements Element(CIE), which is essentially the facility and financial part of the County’s Comprehensive Plan. It is a mandatedelement per Florida Statutes Chapter 163 and Rule 9J-5.016 and prescribes new facilities needed to correct existingdeficiencies, accommodate new growth, and plan for repair and renovation needs of existing facilities. Some of thecapital projects might not be mandated by the CIE but are needs and recommendations by County Departments andConstitutional Officers.FY 2010-11 CAPITAL IMPROVEMENT BUDGETThe FY 2010-11 Capital Improvement Budget includes $43,619,622 in new or carryover funding. The OperatingBudget for FY 2010-11 includes $40.3 million in Capital Improvement funding, comprising 92% of the total CIP.Within that segment, Countywide Funds comprise 30.1% of CIP projects, totaling $13.4 million and are included inthe General Fund, Transportation Trust, Library, and Volusia Forever.Capital projects included within Special Revenue Funds comprise 33% of FY 2010-11 Capital Improvements, totaling$14.3 million. These funds include:• Impact Fee Funds for Roads• Parks• Ponce Inlet• Municipal Service District• Corrections Welfare Trust• Fire Services• Stormwater Utility FundCapital Project funding totaling $12.6 million is also included in the Solid Waste, the Daytona Beach InternationalAirport and the Water and Sewer Enterprise Funds as well as $3.3 million within specific Capital Projects Funds forBeach Capital Projects, Park Projects, and Trail Projects.Overall, major projects funded in FY 2010-11 include:• $5.8 million for Water and Sewer Utilities• $5.4 million for Airport projects• $14 million for road related projectsVarious other projects also include $1.0 million for Central Services HVAC replacements and upgrades; $2.1 millionfor the Spring to Spring Trail project; $300,000 for City Island Library roof repairs; $1.2 million for the Daytona BeachAirport Corporate Park; $1.4 million for incubator building renovation and $588,815 for Fire Station addition andexpansions at Holly Hill, Spruce Creek and Indian Mound. Major funding sources for the CIP include Sales Taxes,Resort Taxes, Gas Taxes, and federal or state grants.Volusia County Section I - 22