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!:\-1PAc-r Cash Flow Analysis for Municipal Facilities The average impact fee revenue of $69,000 per year for municipal facilities will not be sufficient to cover capital costs. The major capital cost for municipal facilities is debt service on new City buildings, which is projected to be $728,000 per year, starting in Year 2 of the cash flow analysis. Sunny Isles Beach will also add one vehicle to the municipal facilities fleet over the next five years. Once debt service obligations begin, the City must contribute approximately $665,000 per year from General Fund revenue. Because this is a new type of impact fee, there is no initial balance for the municipal facilities fee. Figure 24 - Cash Flow Summary for Municipal Facilities Sunny Isles Beach, Florida (Current $ in thousands) TA Projections Memo 1/2/01 123 2002 2003 2004 4 2005 5 Cumulative Average 2006 Total Annual REVENUES 11 M un Fac Fee. Low Density Res $3 $3 $3 $3 $3 12 Mun Fac Fee, Medium Density Re $4 $4 $4 $4 $4 13 Mun Fac Fee. High Density Res $38 $38 $38 $38 $38 14 M un Fac Fee, Hotel Rms $1 $1 $1 $1 $1 15 Mun Fac Fee ,Commercial $1 $1 $1 $1 $1 16 Mun Fac Fee, Off/lnst $21 $21 $21 $21 $21 Subtotal Municipal Facilities Fees $69 $69 $69 $69 $69 CAPITAL COSTS Municipal Facilities Vehicles & Equipme City Buildings Debt Service Subtotal Municipal Facilities Costs $8 $0 $8 $7 $728 $734 $8 $728 $735 $7 $728 $734 $7 $728 $734 NET CAPITAL FACILITIES CASH FLOW, Municipal Facilities Annual Surplus (or Deficit) Init Bal $61 Cumulative Surplus (or Deficit) $61 ($665) ($604) ($667) ($1,271) ($665) ($1,936) ($665) ($2,602) 27 $16 $3 $18 $4 $191 $38 $7 $1 $6 $1 $106 $21 $344 $69 $36 $7 $2,910 $582 $2.946 $589 Current $ in thousands ($2.602) ($520) Tischler & Associates, Inc.