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Scenario 2- Short-term levy increases with 5% interest earnings
<br />Year
<br />2014
<br />2015
<br />2016
<br />2017
<br />2018
<br />2019
<br />2020
<br />2021
<br />2022
<br />2023
<br />2024
<br />2025
<br />2026
<br />2027
<br />2028
<br />2029
<br />2030
<br />2031
<br />2032
<br />2033
<br />2034
<br />2035
<br />2036
<br />Add'I Levy Total Levy
<br />150,000.00
<br />160, 000.00
<br />160, 000.00
<br />200,000.00
<br />14,000,000.00 -
<br />12,000,000.00
<br />10,000,000.00
<br />8,000,000.00
<br />6,000,000.00
<br />4,000,000.00
<br />2,000,000.00
<br />0.00
<br />160,000.00
<br />310,000.00
<br />470,000.00
<br />630,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />830,000.00
<br />Revenues Expenditures Reserve Use
<br />1,260,000.00
<br />1,410,000.00
<br />1,570,000.00
<br />1,730,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />1,930,000.00
<br />2,100,000.00
<br />2,142,000.00
<br />2,184,840.00
<br />2,228,536.80
<br />2, 273,107.54
<br />2,318,569.69
<br />2,364,941.08
<br />2,412,239.90
<br />2,460,484.70
<br />2,509,694.39
<br />2,559,888.28
<br />2,611,086.05
<br />2,663,307.77
<br />2,716,573.92
<br />2,770,905.40
<br />2,826,323.51
<br />2,882,849.98
<br />2,940,506.98
<br />2,999,317.12
<br />3,059,303.46
<br />3,120,489.53
<br />3,182,899.32
<br />840,000.00
<br />732,000.00
<br />614,840.00
<br />498,536.80
<br />343,107.54
<br />388,569.69
<br />434,941.08
<br />482,239.90
<br />530,484.70
<br />579,694.39
<br />629,888.28
<br />681,086.05
<br />733,307.77
<br />786,573.92
<br />840,905.40
<br />896,323.51
<br />952,849.98
<br />1,010,506.98
<br />1,069,317.12
<br />1,129, 303.46
<br />1,190,489.53
<br />1,252,899.32
<br />Reserve Earnings
<br />558,000.00
<br />549,300.00
<br />546,023.00
<br />548,397.31
<br />558,661.80
<br />567,166.40
<br />573,777.67
<br />578,354.56
<br />580,748.05
<br />580,800.73
<br />578,346.36
<br />573,209.37
<br />565,204.45
<br />554,135.98
<br />539,797.51
<br />521,971.21
<br />500,427.27
<br />474,923.28
<br />445,203.59
<br />410,998.60
<br />372,024.05
<br />327,980.29
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<br />,ti0 ,y0 ,LO ,y0 ,ti0 ,y0 ,ti0 ,y0 ,LO ,y0 ,ti0 ,ti0 ,y0 ,ti0 ,ti0 ,ti0 ,y0 ,LO ,y0 ,ti0 ,y0 ,ti0 ,y0
<br />i
<br />Assumptions: MSA funds of $1.1M received every year
<br />Expendituresincrease at 2% peryear
<br />Reserve Earnings of 5%
<br />$160K in 2015 is repurpose of Street Bond Issue #25
<br />$150K in 2016 is repurpose of Street Bond Issue #23
<br />The rest of levy increases are additional tax levy
<br />Attachment B4 Appendix
<br />Reserve Balance
<br />12,000,000.00
<br />11,718,000.00
<br />11,535,300.00
<br />11,466,483.00
<br />11,516,343.51
<br />11,731,897.77
<br />11,910,494.49
<br />12,049,331.08
<br />12,145,445.74
<br />12,195,709.09
<br />12,196,815.43
<br />12,145,273.50
<br />12,037,396.83
<br />11,869,293.51
<br />11,636,855.57
<br />11,335,747.68
<br />10,961,395.37
<br />10,508,972.66
<br />9,973,388.97
<br />9,349,275.44
<br />8,630,970.58
<br />7,812,505.10
<br />6,887,586.06
<br />� Revenues
<br />� Expenditures
<br />—Reserve Balance
<br />Results: $6.9M endowment remaining, providing $328K per year in interest earnings
<br />At this pace, endowment would run out in 2041 and require a$1.4M levy increase to continue Pavement Mgmt Program
<br />22 year interest earnings of: 11,505,451.49
<br />Levy Expenditure
<br />Coverage %
<br />7.6%
<br />14.5 %
<br />21.5%
<br />283 %
<br />36.5%
<br />35.8 %
<br />35.1%
<br />34.4%
<br />33.7%
<br />33.1 %
<br />32.4%
<br />31.8%
<br />31.2%
<br />30.6 %
<br />30.0%
<br />29.4 %
<br />28.8%
<br />28.2%
<br />27.7%
<br />27.1%
<br />26.6%
<br />26.1%
<br />
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