FY 2025 BUDGET BOOK - Flipbook - Page 106
New construction or major improvements generally require additional operating expenditures such
as electricity, building insurance, or general maintenance. The following chart shows the estimated
impacts of operating costs for FY 2024/25 capital projects. They may represent positive or negative
impacts on operating costs.
The total operating costs for capital projects in the FY 2024/25 budget is $715,000. Significant CIP
operating costs for the most significant projects is as follows:
City of Eustis
Significant Operating Expenditures FY 2024/25 - FY 2028/29 for Projects
Account
Number
Current
Budget
FY 23/24
Project Name
FY 24/25
FY 25/26
FY 26/27
FY 27/28
Five Year
Total
FY 28/29
General Fund
001-2220-522-30-46 FIRE / STATION 22 BAY FLOOR REPLACEMENT
$
35,000
$
-
$
-
$
-
$
-
001-4910-517-30-34 PW FACILITIES / GENERATOR MAINTENANCE CITYWIDE
30,000
30,000
30,000
30,000
30,000
$
-
$
-
30,000
150,000
001-7320-572-30-46 PARKS & REC / CARVER PARK PAVILION MAINTENANCE
-
30,000
-
-
-
-
30,000
001-7320-572-30-46 PARKS & REC / SUNSET ISLAND PAVILION SANDBLAST & PAIN
-
30,000
-
-
-
-
30,000
001-7330-572-30-46 PARKS & REC / AQUATIC CENTER DECK REPAIR
-
60,000
-
-
-
-
60,000
001-7330-572-30-46 PARKS & REC / SPLASHPAD MAINTENANCE
-
General Fund Total
-
-
10,000
-
-
10,000
65,000
150,000
30,000
40,000
30,000
30,000
280,000
75,000
65,000
85,000
85,000
85,000
85,000
405,000
-
90,000
100,000
Street Improvement Fund
013-4120-541-30-34 PW TRANSP. / REIMB. FOR SIGNAL. MAINT. TO LAKE COUNTY
013-4130-541-30-31 PW TRANSP. / PAVEMENT CONDITION INDEX (PCI) STUDY
-
013-4130-541-30-31 PW TRANSP. / TRAFFIC STUDY & IMPLEMENTATION (MUTCD)
-
150,000
75,000
215,000
Street Improvement Fund Total
-
-
175,000
185,000
-
-
190,000
-
-
150,000
85,000
85,000
745,000
Water & Sew er Rev
040-3100-536-30-31 PUBLIC UTILITIES / PAVEMENT ASSESSMENT STUDY
-
350,000
-
-
-
-
350,000
Water & Sew er Revenue Fund Total
-
350,000
-
-
-
-
350,000
Total - Significant Operating Expenditures
$
140,000
$
715,000
$
205,000
$
225,000
$
115,000
$
115,000
$ 1,375,000
The analysis of the total capital projects operating costs impact highlights the need for strategic
decision-making that ties in with short-term objectives and long-term sustainability. Thoroughly
examining the financial impacts of capital projects on the operating budget underscores the
importance of responsible allocation to avoid potential strains on daily operations. This assessment
empowers the City’s decision-makers to make well-informed decisions that are in line with the City’s
strategic objectives while ensuring the continuous delivery of vital services to the community.
Debt
Regarding Long-term debt, the City will make timely payments for all debt outstanding. It will strive
to maintain an underlying issuer’s credit rating of no less than Aa3 (dependent on the credit rating
agency). General Obligation Bonds may be issued as prescribed by law. Revenue Bonds or Notes
may be used to fund major capital purchases or construction projects, but such financing shall be no
more than 30 years. The City will not issue long-term debt to refinance current operations.
Refinancing will be considered when it is economically beneficial to do so. If the City won’t be able
to sell three Downtown parcels for the reasonable price, City will refinance the CRA balloon loan,
issued in 2020.
Regarding short-term debt/leases, debt for less than five-year periods shall be avoided, unless a
debt mechanism is in place that provides decreased costs of issuance. Leases or lease purchases are
allowed when the total costs of the lease and maintenance are less than the total costs of the purchase
and maintenance or if there are other special factors to be considered.
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