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City of Hugo
<br />2020-2024 CIP
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<br /> Project: Public Works Facility at Irish Avenue Year: 2020-2024
<br />Sources of Funds
<br /> 2020 2021 2022 2023 2024 Total
<br />Beginning Cash Balance $ - $ - $ 556,133 $ 584,064 $ 608,724
<br />Property Tax Levy $ 556,133 $ 557,581 $ 555,690 $ 558,872 $ 2,228,276
<br />Capital Improvement Bond Proceeds $ 7,200,000 $ 7,200,000
<br />Underwriter's Discount (1.3%) $ (93,600) $ (93,600)
<br />Cost of Issuance $ (60,000) $ (60,000)
<br />Sale of Current Facility to ISD 624 $ 1,000,000 $ 1,000,000
<br />Transfer from Water & Sewer (Fund 601) $ 4,558,700 $ 4,558,700
<br />Transfer from Capital Facilities (Fund 406) $ 1,133,900 $ 1,133,900
<br /> Net Sources of Funds $ 13,739,000 $ 556,133 $ 557,581 $ 555,690 $ 558,872 $ 15,967,276
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<br />Uses of Funds
<br /> 2020 2021 2022 2023 2024 Total
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<br />Pre-Construction Architect Fees $ 532,650 $ 532,650
<br />Construction Related: Main Facility $ 9,125,000 $ 9,125,000
<br />Site Related $ 2,082,000 $ 2,082,000
<br />Salt Storage Building $ 260,000 $ 260,000
<br />Post Bid Architect Fees and Permits $ 137,350 $ 137,350
<br />- Less Bldg Permit Fee $ (60,000) $ (60,000)
<br />Furnishings $ 55,000 $ 55,000
<br />Turn Lanes (Washington County) $ 200,000 $ 200,000
<br />Other Costs (Telecom, Security, Surveys…) $ 158,000 $ 158,000
<br />Contingencies (10%) $ 1,249,000 $ 1,249,000
<br />Bond Principal & Interest $ - $ - $ 529,650 $ 531,030 $ 529,229 $ 1,589,909
<br /> Total Uses of Funds $ 13,739,000 $ - $ 529,650 $ 531,030 $ 529,229 $ 15,328,909
<br />Ending Fund Balance $ - $ 556,133 $ 584,064 $ 608,724 $ 638,367
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