1. Queen Anne’s County Commissioners Financial Update
Jonathan R. Seeman
Budget, Finance and IT
November 28, 2017

2. Agenda 5 Year revenue & expenditure projection
FY2018 revenue and expenditure projections
Bond schedule & legislation
Bond project list
Federal tax law impacts

3. 5 Year Revenue Projection

4. 5 Year Expenditure Projection

5. Revenue

6. Expenditure

7. Expenditure

8. Expenditure

9. Expenditure

10. Bond Schedule
November 28 – Bond Legislation introduced to County Commissioners
December 12 – Bond Legislation public hearing
January 9 – Bond Legislation adopted by County Commissioners
January 10 – Distribute 1st draft of POS
January 17 – Comments on 1st draft of POS
January 24 – Distribute 2nd draft of POS including distribution to rating agencies

11. Bond Schedule January 29 & 30 – Rating trip to New York
January 31 – Written comments to 2nd draft
February 7 – Distribute final draft of POS
February 19 – Bond ratings released
February 23 – Bond Legislation effective
February 27 – Bond Resolution approved by County Commissioners
February 28 – Advertise sale in local paper

12. Bond Schedule February 28 – Written comments to final draft due
February 28 – Financial advisor orders CUSIP numbers
March 5 – POS is complete
March 6 – Financial advisor notifies PARITY for electronic bidding
March 6 – POS is released to I-Deal
March 7 – Advertise sale in local paper

13. Bond Schedule March 13 – Bond sale and award bonds
March 13 – Financial advisor provides debt service schedule to County
March 14 – OS changed pages distributed to Financing Team & successful bidder
March 15 – Financing Team provides comments on OS
March 16 – Final OS is released
March 19 – Final OS printed, mailed & delivered

14. Bond Schedule
March 20 – Bond counsel provides final closing documents to County
March 23 – County returns executed closing documents to Bond Counsel
March 27 – Closing & investment of Bond proceeds

15. FY2018 Bonds New Circuit Courthouse - $9,000,000
County Buildings/Facilities Program - $300,000
Grasonville Elementary School Addition - $3,142,000
Detention Center Roof - $250,000
Roads Resurfacing/Asphalt Overlays - $2,475,000
Total $15,167,000

16. Federal Tax Reform Legislation
Impacts on Local Government
State and local deduction
Private activity bonds
Advance refunding bonds (potentially eliminating QAC refunding opportunities, potential loss up to $2 million)