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Project: Public Works Facility at Irish Avenue
<br />Year: 2020-2024
<br />2020
<br />Beginning Cash Balance
<br />City of Hugo
<br />2020-2024 CIP
<br />Sources of Funds
<br />2021 2022 2023 2024
<br />$ 557,581 $ 585,512 $ 612,063
<br />Total
<br />Property Tax Levy
<br />$
<br />274,626 $ 557,581 $ 557,581 $
<br />557,581 $ 557,581 $
<br />2,504,950
<br />Capital Improvement Bond Proceeds
<br />$
<br />7,200,000
<br />$
<br />7,200,000
<br />Underwriter's Discount (1.3%)
<br />$
<br />(93,600)
<br />$
<br />(93,600)
<br />Cost of Issuance
<br />$
<br />(60,000)
<br />$
<br />(60,000)
<br />Sale of Current Facility to ISD 624
<br />$
<br />1,000,000
<br />$
<br />1,000,000
<br />Transfer from Water & Sewer (Fund 601)
<br />$
<br />3,000,000
<br />$
<br />3,000,000
<br />Transfer from Capital Facilities (Fund 406)
<br />$
<br />878,563
<br />$
<br />878,563
<br />Net Sources of Funds $ 12,199,589 $ 557,581 $ 557,581 $ 557,581 $ 557,581 $ 14,429,913
<br />Uses of Funds
<br />2020 2021 2022 2023 2024
<br />Total
<br />PW Space Needs Study (repay Fund 405) $ 19,289 $ 19,289
<br />Pre -Construction Architect Fees $ 532,650 $ 532,650
<br />Construction Related:
<br />Main Facility
<br />$
<br />8,995,000
<br />$
<br />8,995,000
<br />Site Related
<br />$
<br />905,000
<br />$
<br />905,000
<br />Salt Storage Building
<br />$
<br />150,000
<br />$
<br />150,000
<br />Post Bid Architect Fees and Permits
<br />$
<br />137,350
<br />$
<br />137,350
<br />- Less Bldg Permit Fee
<br />$
<br />(60,000)
<br />$
<br />(60,000)
<br />Furnishings
<br />$
<br />55,000
<br />$
<br />55,000
<br />Turn Lanes (Washington County)
<br />$
<br />200,000
<br />$
<br />200,000
<br />Other Costs (Telecom, Security, Surveys...)
<br />$
<br />158,000
<br />$
<br />158,000
<br />Contingencies (10%)
<br />$
<br />1,107,300
<br />$
<br />1,107,300
<br />Bond Principal & Interest
<br />$
<br />- $
<br />- $ 529,650 $ 531,030 $ 529,229 $
<br />1,589,909
<br />Total Uses of Funds $ 12,199,589 $ - $ 529,650 $ 531,030 $ 529,229 $ 13,789,498
<br />Ending Fund Balance $ - $ 557,581 $ 585,512 $ 612,063 $ 640,415
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