[bouldercouncilhotline] Hotline: Questions regarding Open Space Taxes and Ballot Measures

[cmosupport at bouldercolorado.gov]

Sender: Mike Patton

From: Patton, Mike 
Sent: Friday, June 14, 2013 2:08 PM
To: Lewis, Alisa
Subject: Hotline

Hot line Response
Dear Council, in initial response to Suzanne Jones request,  attached is information that was provided to Council member Becker yesterday. The three fund financial spread sheets that were provided to the OSBT for their June 12th meeting are included.  
The email to KC also includes a brief description of how the models were constructed.  
The June 12th memo to Board of Trustees is on the OSMP web site and can be accessed by this  link

Additional information will be ready at the Council meeting Tuesday night and can be discussed at CAC on Monday morning



From: Patton, Mike 
Sent: Thursday, June 13, 2013 4:50 PM
To: Becker, KC
Cc: Brautigam, Jane; Fetherston, Paul
Subject: Spread sheets you requested

HI KC, I have attached the spread sheets and below is a brief explanation.  As I said yesterday these do not include bonding.  

The three scenarios we modeled are:
1.	No tax extension
2.	0.33% extension
3.	0.15% extension

Each of the models includes the same following conditions:
1.	Elimination of the General Fund Transfer in 2020
2.	Spending one half of the Fund Balance in 2019
3.	Three years of no increase in projected revenues 
4.	$3.4 million acquisition CIP after 2019

Revenue generated by two tax extensions came out the same - $77,800,000 - because we designed it that way.  We did not want to put in additional CIP funds from the 0.33 extension because it might have been construed as an attempt to sway the Board.

The difference lies in the ending fund balance.  In 2030, the 0.15 extension would have a fund balance of approximately $8 million, hardly enough to make up the difference between $77.8 million and the $90 million needed to accomplish the vision plan.

In 2030, the 0.33 extension would have a fund balance of approx. $101.7 million, which would be enough to make up the difference between $77.8 million and the $90 million needed to accomplish the vision plan. 


Please feel free to call me if you have any questions.
Thanks,
Mike

-------------- next part --------------
A non-text attachment was scrubbed...
Name: 3 Sales Tax Scenarios 6_13_2013.xlsx
Type: application/octet-stream
Size: 147647 bytes
Desc: not available
Url : http://list.ci.boulder.co.us/pipermail/bouldercouncilhotline/attachments/20130614/0804a23f/attachment.obj