2014 Capital Budget Highlights

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Presentation Description

Highlights of the Morris County NJ 2014 Proposed Capital Budget presented at the January 22, 2014 Freeholder public meeting.

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Presentation Transcript

2014 Capital Budget Highlights:

2014 Capital Budget Highlights Continues the overall reduction of capital projects from past spending levels, thereby reducing County debt. Includes an additional $775,900 for roads/paving in 2014, which is a 55% increase over the 2013 capital budget for roads/paving. Includes additional required security and fire safety costs in various County facilities and the Courthouse. Includes funding to address an emergent and unexpected safety issue with a County parking deck. Includes an additional $75,000 specifically for pot hole repair (purchase of hot boxes).

2014 Capital Budget Summary:

2014 Capital Budget Summary Service Category Funding % of Budget Law & Public Safety $ 2,499,500 10% IT $ 1,438,870 6% Human Services $ 1,051,500 4% Public Works $14,210,700 61% (roads, bridges, etc.) CCM $ 2,125,000 9% School of Technology $ 1,292,220 5% Park Commission $ 1,050,000 4% Miscellaneous $ 233,000 1% TOTAL $23,900,790 100%

2014 Capital Budget Summary (with Offset Funding):

2014 Capital Budget Summary (with Offset Funding) Service Total County State Federal Bridges $7,450,000 $3,165,000 $3,125,000 $1,160,000 Roads $6,075,000 $2,190,700 $3,884,300 -0- CCM $4,250,000 $2,125,000 $2,125,000 -0- PW $8,855,000 $8,855,000 -0- -0- LPS $2,499,500 $2,499,500 -0- -0- IT $1,438,870 $1,438,870 -0- -0- HS $1,051,500 $1,051,500 -0- -0- VoTech $1,292,220 $1,292,220 -0- -0- Parks $1,050,000 $1,050,000 -0- -0- Misc. $ 233,000 $ 233,000 -0- -0- TOTAL $34,195,090 $23,900,790 $9,134,300 $1,160,000

2014 Capital Budget Paving Trends:

2014 Capital Budget Paving Trends Year Total County Federal MV Fine 2009 $4,367,398 $498,085 $3,869,313* -0- 2010 $6,040,199 $778,199 $5,262,000 -0- 2011 $4,635,754 $744,473 $3,891,281 -0- 2012 $5,052,465 $1,242,012 $3,810,453 -0- 2013 $5,450,000 $1,414,800 $3,435,200 $600,000 2014 $6,075,000 $2,190,700 $3,884,300 TBD *Includes ARRA Federal Stimulus Funding

2014 Capital Budget Debt Required to Fund:

2014 Capital Budget Debt Required to Fund Year Debt Required to Fund Budget 2010 $33,200,000 2011 $40,900,000 2012 $29,200,000 2013 $21,500,000 2014 $24,500,000 ** **The debt includes the full $4,250,000 in Chapter 12 funding for CCM, of which 50% is returned to the County.

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