2007 Capital Budget
Mr. Robey is about to issue his 2007 Capital Budget Proposal which is customarily preceeded by a press release.
"The devil is in the details" of course but I think we are in for a long discussion.
2007 Capital Budget Press Release can be found here. - Total $336.6 million
2006 Capital Budget Press Release can be found here. - Total $235.3 million
2005 Capital Budget Press Release can be found here. - Total $198.35 million
A 30 % increase over last year and 41% over 2005 and only modest increases in education. Lets see how this effects the projected 2007 surplus. Did he spend it already?
Now keep in mind - the following chart shows total proposed budget followed by funding sources. Do you notice the big swings in funding sources? Gonna take some research and study to understand completely.
We don't know how he is going to propose spending the money except for some clues provided in the referenced press releases. For example, we won't know about another stealth helicopter until after the fact like last year.
"The devil is in the details" of course but I think we are in for a long discussion.
2007 Capital Budget Press Release can be found here. - Total $336.6 million
2006 Capital Budget Press Release can be found here. - Total $235.3 million
2005 Capital Budget Press Release can be found here. - Total $198.35 million
A 30 % increase over last year and 41% over 2005 and only modest increases in education. Lets see how this effects the projected 2007 surplus. Did he spend it already?
Now keep in mind - the following chart shows total proposed budget followed by funding sources. Do you notice the big swings in funding sources? Gonna take some research and study to understand completely.
We don't know how he is going to propose spending the money except for some clues provided in the referenced press releases. For example, we won't know about another stealth helicopter until after the fact like last year.
posted by hocoblog at 5:00 PM
7 comments
7 Comments:
What in the world is going on with a $50 mil increase in Water and Sewer - is this Robeys bailout of the Baltimore City Sewer system (didn't the county recently take over something from the city) If so is this part of the reason the City had a surplus this year? Are we paying (ie Howard County Taxpayers) for the Citys Water & Sewer?
What the reader needs to keep in mind is that it is an increase only as far as a funding source. Most likely Mr. Robey will issue bonds against the projected revenue and value of the associated assets (about $422.7M net value) to raise the money.
These are also known as Proprietary funds. When one looks at the total operating revenues and operating expenses for Water and Sewer the Operation incom is -$14M. Then the County adds Nonoperating revenues of $16.3M for a Net incom of $2.27M
If the County is borrowing against this income and asset are they able to spend the money on projects other than water and sewer? Anyone know?
Found the answer.
All assets in the Water and Sewer Proprietary Fund and the Special Recreation Facility Fund (golf course), except those
available to fund current liabilities, are considered restricted because a change in the charter is required to allow these
assets to be used for other purposes.
Oh yes. The writer is correct. Since the County has to spend those funds on water and sewer projects it is a $50M increase in that budget category. What the County spends it on remains to be seen.
However, I am concerned about the fact that W/S operates at a loss (until they add non-operating income).
Can W/S afford to take on more debt?
Leveraging (sp?) the County to the max seems to be the game afoot! When one is running for State Senate and wants to look like the "are doing something" getting the taxpayer footed credit card out is the only option....Sad that we are going down this road really...
This is actually a 43% increase over 2006,
and a 69.7% increase over the 2005 budget.
furrier's math
$336.6M - $235.3M = $101.3M / $235.3M = 43%
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