1. 1 Balancing Financial Issues Murdock Village Debt Revenue Shortfall Jail Expansion / Capital Projects

2. 2 Goals Reduce Murdock Debt and develop a plan to retire all outstanding debt Address Revenue Shortfall – maximize services to the Community Capital Projects – re-think projects and best use of funds

3. 3 Murdock Village Re-direct capital and fund balances to pay down debt Develop a plan to pay-off remaining Debt

4. 4 Revenue Shortfalls Re-direct Capital Projects to fund Operations This strategy will allow the County to ramp down slowly to less operations and services.

5. 5 Jail Expansion / Capital Projects Capital Project Discussion at the April 22 nd budget workshop Focus (that day) will be on Ad Valorem projects only Staff recommendations on: - Projects Continued, delayed. eliminated, or re-engineered.

6. 6 Capital Projects Millage rate review Funds Facilities, Parks, EMS, Sheriff projects Not Roads or Utilities Total Millage rate =.9887.6 mills was for special rebuilding projects.3887 – in place for a long period of time for ongoing projects

7. 7 Funding Generated by.9887 Millage Best estimate using forecasted de- valuations:.6 mill produces approx 11 Million.3887 produces approx 7 Million

8. 8 Concept I – Key Elements Pay Murdock Village Debt down by between 30 - 40M (29M balances, 11M – re-direct capital This reduces external debt from 93.3M to 53.3M. Retire remaining debt over 20 or 30 year periods using part of the Capital Project Millage Rate Could still build Jail expansion now, but borrow over 10-year period Balance the use of the.6 Millage over paying off Murdock, paying the jail loan and the revenue shortfall.

9. 9 Concept 1

10. 10 Concept 1

11. 11 Benefits of Option I Reduces Murdock Debt and sets the County on a course for retiring all debt Still builds the jail now Directs substantial funds to operations to help stabilize revenue shortfalls

12. 12 Benefits of borrowing for the Jail versus Murdock Murdock would be a taxable structure where the jail is not Taxable = higher rate = more interest

13. 13 Revenue Shortfall recommendation Heavy use of Capital re-direction More services provided Ease the impact of lower services Will continue to need to find efficiencies and longer term strategies

14. 14 What is needed from the Board today? Discussion and direction to going forward with this approach.