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E;C: Cash Flow Analysis for Parks and Recreation The cash flow analysis for parks and recreation facilities is summarized in Figure 13. Impact fee revenue will be generated primarily by High Density residential development, which will contribute $59,000 per year of the total impact fee revenue of $72,000 per year. However, planned improvements to citywide parks and beaches will require $416,000 per year. The City will add one additional parks vehicle over the next five years. The cumulative revenue shortfall over the next five years of approximately $1.75 million is due to the planned improvements, which will increase in the City's level of service. In order for the capital improvement plan to be financially feasible, Sunny Isles Beach will have to contribute approximately $350,000 per year from General Fund tax revenue. The current fund balance of approximately $582,000 may be used to cover the projected revenue shortfall during the next two fiscal years. Figure 13 - Cash Flow Summary for Parks and Recreation Sunny Isles Beach, Florida (Current $ in thousands) TA Projections Memo 1/2/01 123 2002 2003 2004 4 2005 REVENUES 5 Cumulative Average 2006 Total Annual 1 Park/Rec Fee, Low Density Res 2 Park/Rec Fee, Medium Density Res 3 Park/Rec Fee - High Density Res 4 Park/Rec Fee. Hotel Rms Subtotal Park/Rec Fees $5 $6 $59 $2 $72 $5 $6 $59 $2 $72 $5 $6 $59 $2 $72 $5 $6 $59 $2 $72 $5 $6 $59 $2 $72 CAPITAL COSTS Citywide Parks Beach Access & Improvements Park/Rec Vehicles Subtotal Parks & Recreation Costs $307 $109 $6 $422 13 $307 $109 $5 $421 ($349) ($117) $307 $109 $6 $422 ($350) ($468) $307 $109 $5 $421 ($349) ($817) $307 $109 $5 $421 ($349) ($1,166) $24 $5 $28 $6 $295 $59 $11 $2 $359 $72 $1,537 $307 $543 $109 $26 $5 $2,107 $421 Current $ in thousands ($1,748) ($350) Tischler & Associates, Inc.