Project Analysis and Feasibility Report (2)

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Since we have just begun the FY98-99 budget process, there are still significant fi ancial ~ information gaps in both revenues and expenditures for both FY98-99 and the foll wing years. At this preliminary stage, I am confident that Marion County will receive an additi nal increase of approximately $2.1 million in revenues in the upcoming fiscal year. Relatively speaking, $235,569 represents only .5% of the approximate $40,000,00 in annual general fund revenues that are received by Marion County. The county will have a equate resources to absorb this additional general fund cost. Also, as noted above, additional general and non-general fund costs will not be inc ed until the fiscal years 2000/2001. This gives us a two-year lead time and three budget cycles o plan ahead. Marion County is working to identify and implement new revenue streams. These evenues may be used fo offset future liabilities. Some of these are identified as follows: ^ Establish new and/or increase existing fees ^ Obtain funding for partially-funded or unfimded state mandates ^ Graduated rental adjustments (blended) ^ "Soft" hiring freeze If the Courthouse Square project is abandoned, then the county will need to contin e renting commercial building space. This space will cost approximately $1.47 per SF in the years 2000/2001. This is a substantial increase from the $1.30 per SF cost projected for ourthouse Square. Furthermore, the county will be a tenant and subject to the long-term infla ion of market rents. Conversely, by continuing with the Courthouse Square project, the county w 11 pay less rent and will own it's building. For all of the reasons stated above, I am confident that the Courthouse Square proj~Ct will not substantially hurt existing county programs. ~