arlington county, virginia adopted cip program …...capital funding sources fy 19 fy 20 fy 21 fy 22...
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Program Category FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 TotalLocal Parks & Recreation 24,738 19,701 15,654 15,797 21,474 19,002 17,293 20,802 24,036 44,684 223,181
Transportation Initiatives 1 153,478 204,790 191,201 148,474 132,080 137,532 83,958 91,763 88,245 94,816 1,326,337 Metro 27,400 27,000 27,600 28,200 28,800 29,400 30,100 30,800 31,500 32,200 293,000 Community Conserv/Economic Develop. 10,000 8,550 9,700 5,550 4,500 4,700 4,500 5,080 6,500 10,905 69,985 Public / Government Facilities 27,637 31,870 16,210 10,520 10,200 11,550 13,200 21,200 25,685 28,961 197,033 Information Technology & Public Safety 14,970 18,509 7,124 18,291 9,261 12,137 13,063 16,117 7,205 10,629 127,306 Regional Partnerships 1,682 1,432 1,472 1,513 1,557 1,602 1,649 1,698 1,748 1,802 16,155 Water & Sewer Infrastructure 28,915 35,390 42,555 46,155 45,880 55,280 102,030 58,180 31,720 53,070 499,175
Stormwater Management 2 9,270 4,093 5,833 2,011 2,000 2,000 2,000 2,000 2,000 2,000 33,207 Total County Capital 298,090 351,335 317,349 276,511 255,752 273,203 267,793 247,640 218,639 279,067 2,785,379
Schools Capital 5 265,060 42,350 37,050 28,800 42,000 68,600 18,700 16,600 40,400 54,000 613,560
Total Program Cost 563,150 393,685 354,399 305,311 297,752 341,803 286,493 264,240 259,039 333,067 3,398,939
Arlington County, Virginia
Adopted CIP Program SummaryThe Adopted FY 2019 - 2028 CIP includes typical capital projects such as maintenance capital, parks, transportation, metro, community conservation,
government facilities, information technology and regionals. Similar to the last CIP, this 10 year CIP includes funding that has been previously approved in prior CIPs to show the full expenditure by fiscal year of each capital project.
10 Year Capital Program Costs Summary (000s)
(1) Transportation Capital Fund is supported by a commercial real estate tax of $0.125 per $100 of assessed value and 30% of revenues from a regional sales tax collected at the Northern VirginiaTransportation Authority (NVTA). The Transportation Capital Fund is supplemented by County PAYG as well as state and federal revenues.(2) Stormwater Management Fund is funded from the Sanitary District Tax, Watershed Management Fund, State Grants and project cost sharing with US Army Corps of Engineers. The sanitarydistrict tax was increased from $0.01 to $0.013 per $100 of assessed value by the County Board on April 24, 2010.(3) Local and Regional funding for transportation projects from the Northern Virginia Transportation Authority (NVTA) were approved by the General Assembly in 2013.(4) Other previously approved funds: Any funds other than GO Bonds that were approved as part of prior CIPs that are to be spent during the FY19-FY28 CIP.(5) Schools CIP reflects the School Board's adopted capital projects and related cashflows.
B - 1
Capital Funding Sources FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 FY 26 FY 27 FY 28 TotalPay-As-You-Go (PAYG) 5,545 13,306 13,166 13,139 11,122 11,235 11,344 11,469 11,587 11,713 113,626 Short Term Financing 11,388 12,566 5,417 5,782 4,704 10,624 13,718 11,802 9,139 6,641 91,781 General Fund GO Bond Issue 69,120 65,795 64,625 57,260 58,900 66,005 67,160 81,045 87,725 91,225 708,860
Schools GO Bond Issue 5 63,130 42,350 37,050 28,800 42,000 68,600 18,700 16,600 40,400 54,000 411,630 General Fund Revenue Bond Funding - - - 8,300 - 2,850 - - - - 11,150 Utilities PAYG 14,193 16,023 16,424 16,575 14,228 16,058 15,855 13,507 14,229 13,776 150,868 Utility GO Bond Issue - - 8,030 15,235 23,280 28,290 69,550 31,540 9,130 32,500 217,555 Federal Funding 3,008 534 480 1,265 3,226 2,219 480 541 2,661 2,162 16,576 State Funding 15,460 18,272 23,632 21,988 9,773 26,425 13,730 24,039 15,247 14,497 183,063 Developer Contributions and Partnerships 7,135 21,831 5,766 7,659 6,766 19,257 10,588 6,005 7,698 33,546 126,251
Sanitary District Tax 2 9,270 3,593 5,833 2,011 2,000 2,000 2,000 2,000 2,000 2,000 32,707
Transportation Capital Fund (TCF) - C&I 1 5,494 14,445 44,490 32,618 23,794 28,968 32,114 29,264 31,562 32,556 275,305
TCF - HB2313 Local 3 6,833 6,895 8,075 7,515 6,720 9,945 6,795 11,111 8,178 9,616 81,683
HB2313 Regional 3 5,198 31,214 47,986 59,954 65,198 27,644 - - - - 237,194 Tax Increment Financing 3,040 4,361 7,091 5,563 5,858 5,459 7,078 6,848 7,075 7,387 59,760 Other Funding 4,619 8,766 3,861 8,979 11,807 13,253 15,580 16,571 9,188 21,202 113,826 Subtotal New Funding 223,433 259,951 291,926 292,643 289,376 338,832 284,692 262,342 255,819 332,821 2,831,835 Previously Approved FundingAuthorized but Unissued Bonds 9,618 9,101 6,000 3,250 - - - - - - 27,969 Issued but Unspent Bonds 147,254 1,807 42 8 - - - - - - 149,111
Other Previously Approved Funds 4 214,098 111,267 43,238 6,085 8,228 2,971 149 2,238 1,750 - 390,024 Subtotal Previously Approved Funding 370,970 122,175 49,280 9,343 8,228 2,971 149 2,238 1,750 - 567,104 Total Funding 594,403 382,126 341,206 301,986 297,604 341,803 284,841 264,580 257,569 332,821 3,398,939
10 Year Capital Program Costs Summary (000s)
Arlington County, Virginia
Adopted CIP Program Summary
B - 2
FY17-26 FY19-28 $ Change % ChangeParks and Recreation 208,351 223,181 14,830 7.1%Transportation 1,285,299 1,326,337 41,038 3.2%Metro 280,200 293,000 12,800 4.6%Public/Government Facilities 282,130 197,033 (85,097) -30.2%Information Technology & Public Safety 146,364 127,306 (19,058) -13.0%Regional Partnerships & Contingencies 19,142 16,155 (2,987) -15.6%Joint County & Schools 23,500 - (23,500) -100.0%Community Conservation & Economic Development
97,050 69,985 (27,065) -27.9%
Subtotal County Capital 2,342,036 2,252,997 (89,039) -3.8%Water and Sewer Infrastructure 420,504 499,175 78,671 18.7%Stormwater Management 53,693 33,207 (20,486) -38.2%Total County CIP 2,816,233 2,785,379 (30,854) -1.1%Schools Capital 510,290 613,560 103,270 20.2%Total CIP Program 3,326,523 3,398,939 72,416 2.2%
Arlington County, Virginia
CIP Comparison by Program Category
Parks and Recreation
6%
Transportation39%
Metro8%
Public/Government Facilities8%
Information Technology & Public
Safety4%
Regional Partnerships & Contingencies
1%
Joint County & Schools1%
Community Conservation & Economic Development
3%
Water and Sewer Infrastructure
13%
Stormwater Management
2%
Schools Capital15%
FY17-26 CIP
Parks and Recreation
6%
Transportation39%
Metro9%
Public/Government Facilities
6%
Information Technology & Public
Safety4%
Regional Partnerships & Contingencies
0%
Community Conservation &
Economic Development
2%
Water and Sewer Infrastructure
15%
Stormwater Management
1%
Schools Capital18%
FY19-28 CIP
B - 3
FY17-26 FY19-28 $ Change % ChangeNew FundingState/Federal Funding 316,746 199,639 (117,107) -37%Developer Contributions 110,390 126,251 15,861 14%General Fund GO Bond 657,325 708,860 51,535 8%Schools GO Bond 435,980 411,630 (24,350) -6%Revenue Bond 65,500 11,150 (54,350) -Utilities GO Bond 146,237 217,555 71,318 49%PAYG 388,110 264,494 (123,616) -32%Short Term Financing 86,265 91,781 5,516 6%Sanitary District Tax 28,679 32,707 4,028 14%Other Funding 86,786 113,826 27,040 31%Transportation Capital Fund (TCF)-C&I 174,808 275,305 100,497 57%TCF - HB2313 Local 99,585 81,683 (17,902) -18%TCF - HB2313 Regional 237,812 237,194 (618) 0%TCF Bonds - - - -Tax Increment Financing (TIF) 57,997 59,760 1,763 3%TIF Bonds - - - -Subtotal New Funding 2,892,220 2,831,835 (60,385) -2%Previously Approved Funding - Authorized but Unissued Bonds 53,331 27,969 (25,362) -48%Issued but Unspent Bonds 29,043 149,111 120,068 413%Other Previously Approved Funds 277,619 390,024 112,405 40%Subtotal Previously Approved Funding 359,993 567,104 207,111 58%Total Funding Sources 3,252,213 3,398,939 146,726 5%
Arlington County, Virginia
CIP Comparison by Funding Category
State/Federal Funding
6%
Developer Contributions
4%
General Fund GO Bond21%
Schools GO Bond12%
Revenue Bond0%
Utilities GO Bond6%
PAYG… Short Term Financing
3%
Sanitary District Tax
1%Other Funding
3%
Transportation Capital Fund (TCF)‐C&I
8%
TCF ‐ HB2313 Local2%
TCF Bonds0%
TIF Bonds0%
Authorized but Unissued Bonds
1%Issued but
Unspent Bonds4%
Other Previously Approved Funds11%
FY19-28 CIP
State/Federal Funding10%
Developer Contributions
3%
General Fund GO Bond20%
Schools GO Bond13%
Revenue Bond2%
Utilities GO Bond4%
PAYG12%
Short Term Financing
3%Sanitary District
Tax1%
Other Funding3%
Transportation Capital Fund (TCF)‐
C&I5%
TCF ‐ HB2313 Local3%
TCF …
TIF Bonds0%
Authorized but Unissued Bonds2%Issued but Unspent
Bonds1%
Other Previously Approved Funds9%
FY17-26 CIP
B - 4
TotalFY 19-28
LOCAL PARKS & RECREATIONParks Maintenance Capital (pg. C-12) 63,220 Arlington Boathouse (pg. C-17) 2,745Four Mile Run Near-Stream Improvements (pg. C-24) 6,325Three Urban Parks in Ballston-Virginia Square (pg. C-427) 750Jennie Dean Park (pg. C-30) 16,180Synthetic Fields (pg. C-45) 5,285Long Bridge Park (pg. C-30) 2,375Trail Modernization (pg. C-49) 6,305Rosslyn Highlands Park + (pg. C-38) 7,685 Shirlington Park (pg. C-40) 3,030Gateway Park (pg. C-26) 20,915Mosaic Park - Phase II (pg. C-33) 5,680Drew Park (pg. C-22) 1,280Parks Land Acquisition and Open Space (pg. C-48) 4,875Sub-total 146,650
TRANSPORTATIONPaving (pg. E-138) 119,085 Curb & Gutter Missing Links (pg. E-136) 1,220 Boundary Channel Drive Interchange (pg. E-81 3,340 East Falls Church Streets (pg. E-102) 2,030 Army Navy Country Club Emergency Access Drive 125 Traffic Calming Device Replacement (pg. E-140) 1,670 Parking Meters (pg. E-113) 4,895 Bridge Maintenance & Renovation (pg. E-89,135) 7,880 Street Lights (pg. E-124) 10,280 Neighborhood Complete Streets (pg. E-110) 3,435 Transportation Asset Management (pg. E-126) 1,300 Transportation Systems & Traffic Signals (pg. E-128) 6,370 WalkArlington (pg. E-130) 4,125 BikeArlington (pg. E-87) 555 ITS Device Replacement (pg. E-144) 1,685 Sub-total 167,995
METROMetro (pg. E-1) 227,530
1,345 3,530
60 65
25,200
48,790
850
1,730
26,745
1,500 1,700 1,460 905
1,050 1,205 140 415
1,260
14,635
20,415 5,680
45,270
750
2,375 1,415
2020 20242022Bond and Master Lease Funding Planning
6,325 500 2,245
3,135
4,235
23,400 25,420 23,230
41,305 47,980 43,520 45,935
Arlington County, Virginia
Adopted FY 2019 - FY 2028 CIP Debt Summary(000s)
12,500
1,185
500
13,500
Adopted2018
8,585
16,180
1,115
29,330
3,450
21,360
3,340 380
430
2,435
1,255
14,000
1,335
3,030
1,280
2,150
22,030
580
1,000
110 330
3,915
1,750 2,395 610
650
215 225
255 325
350 50 200
23,750
1,000
650 1,050 1,210 805
1,740
245
345
295
850 360
2,125
1,135
33,970 34,290
1,075 120 355
135 385
360
2026
31,050 32,590 36,095
260 275
385
210 245 245 285 315
565
B - 5
TotalFY 19-282020 20242022Bond and Master Lease Funding Planning
Arlington County, Virginia
Adopted FY 2019 - FY 2028 CIP Debt Summary(000s)
Adopted2018 2026
COMMUNITY CONSERVATIONNeighborhood Conservation (pg. C-55) 37,000 Penrose Square (pg. C-57) 4,985 Nauck Town Square (pg. C-60) 1,200 Sub-total 43,185
PUBLIC / GOVERNMENT FACILITIESFacilities Maintenance Capital (pg. C-69) 56,500 Buck Property Redevelopment (pg. C-87) 2,995 Fire Station #8 (pg. C-93) 14,000 Re-envisioning Quincy Park and Central Library (pg. C-36) 15,200 Fire Stations Replacements & Additions (pg. C-98) 22,115 Facility Condition Assessments & Planning Studies (C-76) 1,350 Columbia Pike Library Replacement (C-91) 2,810 1212 S Irving Street Replacement (C-83) 3,320 Carlin Springs Site (C-90) 1,500 Land Acquisition (C-100) 3,710 Sub-total 123,500
TotalFY 19-28
County General Obligation Bond Referenda 708,860
TotalFY 19-28
Fire Department Portable Radios (pg. D-126) 3,610 Public Safety Portable Radios (pg. D-16) 2,850 Public Safety Radio Base Stations / System (pg. D-16) 1,750 Police Mobile Data Computer Infrastructure (pg. D-11) 2,940 Total Subject-to-Appropriation Revenue Bonds 11,150
Planning
2,810
12,000 4,405
14,000 13,000 9,500
4,000 8,000 5,000 8,000
4,680
13,210 47,515
0
3,710
PlanningTotal County Bond Referenda
1,780
2,940 6,470
1,830 2,850
Subject-to-Appropriation Revenue Bonds
1,000 350 22,115
14,000
8,000 2,995
12,000
580
4,000 8,580 1,200
0 0 0
6,200 8,000 16,405
30,815 15,150 16,810
Adopted2018 2020 2022 2024 2026
140,915 115,885 124,905 163,785
2,800 12,400
1,750
163,370
2026202420222020Adopted
2018
3,320 1,500
B - 6
TotalFY 19-282020 20242022Bond and Master Lease Funding Planning
Arlington County, Virginia
Adopted FY 2019 - FY 2028 CIP Debt Summary(000s)
Adopted2018 2026
TotalFY 19-28
Synthetic Turf Program (pg. C-45) 1,567 773 757 1,837 1,155 1,357 2,434 2,751 12,631 Technology Maintenance Capital (pg. D-3) 3,985 3,299 2,974 2,955 4,454 4,820 4,517 4,385 2,194 3,740 37,323 Public Safety IT & Equipment Refreshment (pg. D-10 ) 7,403 7,700 1,370 2,070 250 3,467 7,796 6,060 4,511 150 40,777 Citizen Services & Engagement (pg. D-7) 300 300 Emergency Communications (pg. D-9) 500 250 750 Total General Fund Master Lease Funding 11,388 12,566 5,417 5,782 4,704 10,624 13,718 11,802 9,139 6,641 91,781 Auto Fund Master Lease - Fire Vehicle Apparatus (pg. D-11) 4,925 4,373 2,227 5,172 6,239 22,936
TotalFY 19-28
Source Water Reliability & Interconnections (pg. F-5) 34,560 Spout Run (pg. F-8) 1,235 Potomac Interceptor Phase II (pg. F-8) 3,090 Gravity Transmission Mains - B2 & B3 (pg. F-5) 6,375 Secondary Clarifiers (pg. F-22) 12,560 Edison Street / Carlin Springs Road (pg. F-6) 2,060 Primary Clarifier Upgrades (pg. F-25) 3,845 Solids Master Plan Phase II (pg. F-27) 3,320 Solids Master Plan Phase III (pg. F-28) 115,160 Washington Aqueduct Capital (pg. F-14) 35,350 Total Utility Fund GO Bond Referenda 217,555
Total Debt Funding 1,052,282
Planning
Planning
Short-Term Financing
169,794 161,192 198,710 295,567 227,019
Adopted2018 2020 2022 2024 2026
Utilities GO Bond FundingAdopted
2018 2020 2022 2024 2026
0 23,265 51,570 101,090 41,630
1,030 1,030 32,500 1,235
3,090 2,985 3,390 8,560 4,000
2,060 2,990 855
3,980 31,370
1,500 1,820 3,110 33,200 69,720 9,130
B - 7
Adopted Proposed Proposed Proposed Proposed Proposed Proposed Proposed Proposed Proposed TotalFY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 FY19-28
MAINTENANCE CAPITALTransportation (pg E-10-15) 1,716 2,328 2,283 2,269 2,182 2,251 2,308 2,377 2,445 2,514 22,673 Public Facilities (pg C-66,67) 1,262 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 3,040 28,622 Parks and Recreation (pg C-8) 972 1,050 1,050 1,050 1,050 1,050 1,050 1,050 1,050 1,050 10,422 Enterprise Information Technology (D-2) 756 2,085 2,330 2,273 350 350 350 350 350 350 9,544 Americans with Disabilities Act (C-79) 500 200 200 200 200 200 200 200 200 200 2,300 Energy Efficiency (C-66) - 600 600 600 600 600 600 600 600 600 5,400 Sub-Total 5,206 9,303 9,503 9,432 7,422 7,491 7,548 7,617 7,685 7,754 78,961
REGIONAL PROGRAMSNorthern Va Community College (pg C-1) 533 560 588 617 648 680 714 750 787 827 6,704 Northern Va Regional Park Authority (pg C-1) 591 603 615 627 640 653 666 679 692 706 6,472 Northern Va Criminal Justice Academy (pg C-1) 139 139 139 139 139 139 139 139 139 139 1,390 Sub-Total 1,263 1,302 1,342 1,383 1,427 1,472 1,519 1,568 1,618 1,672 14,566
OTHER CAPITAL PROJECTSTransportation (pg. E-10-15) 905 1,001 971 974 983 982 987 994 994 997 9,788 Public Facilities (C-66,67) 655 420 420 420 360 360 360 360 360 360 4,075 Parks and Recreation (C-8) 2,200 150 150 150 150 150 150 150 150 150 3,550 Enterprise Information Technology (D-2) 926 500 150 150 150 150 150 150 150 150 2,626 Community Conservation (pg C-54) 500 500 500 500 500 500 500 500 500 500 5,000 Capital Contingent (pg C-1) 319 130 130 130 130 130 130 130 130 130 1,489 Sub-Total 5,505 2,701 2,321 2,324 2,273 2,272 2,277 2,284 2,284 2,287 26,528
Total PAYG Funding 11,974 13,306 13,166 13,139 11,122 11,235 11,344 11,469 11,587 11,713 120,055
PAYG Funding
Arlington County, VirginiaAdopted FY 2019 - FY 2028 PAYG Summary
B - 8
Adopted Total Adopted Total2016 2018 2020 2022 2024 FY 17-26 2018 2020 2022 2024 2026 FY 19-28
LOCAL PARKS & RECREATIONParks Maintenance Capital 11,890 11,500 12,500 13,500 14,000 63,390 8,585 12,500 13,500 14,000 14,635 63,220 Arlington Boathouse - - - 980 980 - 500 - 2,245 - 2,745 Four Mile Run Near-Stream Improvements - 2,470 - - 2,470 - - 6,325 - - 6,325 Four Urban Parks in Ballston-Virginia Square - - 3,600 - 3,600 - - - - 750 750 Jennie Dean Park 1,800 12,600 - - - 14,400 16,180 - - - - 16,180 Parks Land Acquisition and Open Space 3,000 3,000 3,000 3,000 3,000 15,000 - 1,345 - 3,530 - 4,875 Quincy Park - - 2,300 12,400 14,700 - - - - - - Synthetic Fields - 2,350 - - 2,350 - 3,135 2,150 - - 5,285 Trail Modernization 1,250 1,100 1,100 1,100 1,100 5,650 1,115 1,185 1,255 1,335 1,415 6,305 Rosslyn Highlands Park 5,245 - - - 5,245 3,450 4,235 - - - 7,685 Shirlington Park - - - - - - - - 3,030 - 3,030 Long Bridge Park - - - - - - - - - - 2,375 2,375 Tyrol Hills Park 1,370 - - - - 1,370 - - - - - - Glebe and Randolph Park - - - 970 970 - - - - - - Gateway Park - - - - - - - 500 - - 20,415 20,915 Mosaic Park - Phases I and II - 4,750 - - 4,750 - - - - 5,680 5,680 Drew Park - - - 1,030 1,030 - - - 1,280 - 1,280 Sub-total 19,310 33,445 26,170 23,500 33,480 135,905 29,330 23,400 23,230 25,420 45,270 146,650
JOINT COUNTY-SCHOOLS PROJECTSThomas Jefferson Parking Deck 12,000 - - - - 12,000 - - - - - - Sub-total 12,000 - - - - 12,000 - - - - - -
TRANSPORTATIONPaving 23,890 21,110 22,390 23,750 25,200 116,340 21,360 22,030 23,750 25,200 26,745 119,085 Curb & Gutter Missing Links 205 215 230 245 255 1,150 215 225 245 260 275 1,220 Boundary Channel Drive Interchange 1,340 2,000 - - 3,340 3,340 - - - - 3,340 East Falls Church Streets 100 660 110 940 - 1,810 380 650 1,000 - - 2,030 Army Navy Country Club Emergency Access Drive - - - - - - 60 65 - - - 125 Traffic Calming Device Replacement - - - - - - 255 325 345 360 385 1,670 Parking Meters - - - - - - 430 1,750 650 565 1,500 4,895 Safe Routes to Schools 150 180 - - - 330 - - - - - - Bridge Maintenance & Renovation 2,400 1,270 1,970 1,330 2,575 9,545 610 2,395 1,050 2,125 1,700 7,880 Street Lights 415 495 585 695 810 3,000 2,435 3,915 1,210 1,260 1,460 10,280 Neighborhood Complete Streets 460 760 805 850 2,875 295 580 805 850 905 3,435 Transportation Asset Management - - - - - - 210 245 245 285 315 1,300 Transportation Systems & Traffic Signals 250 750 1,000 1,000 1,000 4,000 850 1,000 1,740 1,730 1,050 6,370 WalkArlington 545 855 1,090 1,210 1,330 5,030 360 350 1,075 1,135 1,205 4,125 BikeArlington 830 315 300 300 300 2,045 50 110 120 135 140 555 ITS Device Replacement - - - - - 200 330 355 385 415 1,685 Sub-total 28,785 27,650 30,435 30,275 32,320 149,465 31,050 33,970 32,590 34,290 36,095 167,995
Adopted FY 2017 - FY 2026 CIP
General Obligation Bond Referenda
Adopted FY 2017 - FY 2026 to Adopted FY 2019 - FY 2028
Arlington County, Virginia
General Obligation Bonds (000s)
Adopted FY 2019 - FY 2028 CIPPlanning Planning
B - 9
Adopted Total Adopted Total2016 2018 2020 2022 2024 FY 17-26 2018 2020 2022 2024 2026 FY 19-28
Adopted FY 2017 - FY 2026 CIP
General Obligation Bond Referenda
Adopted FY 2017 - FY 2026 to Adopted FY 2019 - FY 2028
Arlington County, Virginia
General Obligation Bonds (000s)
Adopted FY 2019 - FY 2028 CIPPlanning Planning
METROMetro 30,000 28,000 19,600 20,900 22,600 121,100 43,520 41,305 45,935 47,980 48,790 227,530
COMMUNITY CONSERVATIONNeighborhood Conservation 12,000 12,000 12,000 12,000 12,000 60,000 5,000 4,000 8,000 8,000 12,000 37,000 Penrose Square - 500 3,800 - 4,300 - - - 580 4,405 4,985 Nauck Town Square 4,850 - - - - 4,850 1,200 - - - - 1,200 Nauck Infrastructure Fund 500 - - - - 500 - - - - - - Sub-total 17,350 12,000 12,500 15,800 12,000 69,650 6,200 4,000 8,000 8,580 16,405 43,185
PUBLIC / GOVERNMENT FACILITIESFacilities Maintenance Capital 9,600 8,000 9,500 12,000 13,000 52,100 8,000 9,500 12,000 13,000 14,000 56,500 County Childcare 1,500 - - - - 1,500 - - - - - - Fire Station 8 1,120 14,000 - - - 15,120 14,000 - - - - 14,000 Fire Stations Replacements & Additions - - - 17,220 17,220 - - - 22,115 - 22,115 Court House Complex Renovations/Infrastructure 6,250 2,000 - 4,180 - 12,430 - - - - - - Barcroft Gymnastics Expansion 3,240 - - - - 3,240 - - - - - - Re-envisioning Quincy Park and Central Library - - - 2,000 - 2,000 - - 2,800 12,400 - 15,200 Columbia Pike Library Refresh - - - - 2,810 2,810 - - - - 2,810 2,810 Critical Systems Infrastructure 1,330 - - - - 1,330 - - - - - - Government Facilities Planning & Construction - - 15,000 - - 15,000 1,500 - - - - 1,500 Lubber Run Community Center 46,460 - - - - 46,460 - - - - - - Land Acquisition - - - - - - - 3,710 - - - 3,710 1212 S Irving Street Replacement - - - - - - 3,320 - - - - 3,320 Facility Needs and Condition Assessments - - - - - - 1,000 - 350 - - 1,350 Buck Property Redevelopment - - - - - - 2,995 - - - - 2,995 Sub-total 69,500 24,000 24,500 18,180 33,030 169,210 30,815 13,210 15,150 47,515 16,810 123,500
TOTAL County GO Bond Referenda 176,945 125,095 113,205 108,655 133,430 657,330 140,915 115,885 124,905 163,785 163,370 708,860
B - 10
Arlington County, Virginia
Debt Capacity Analysis
In developing the CIP, the County establishes its long-range plan for pay-as-you-go (PAYG) and bond/lease purchase financing of its ten-year capital program. In determining the level of capital projects to finance and the method of financing, the County considers its financial ability to undertake these projects. This analysis includes a review of debt capacity factors and the impact of the adopted CIP on these debt capacity factors.
In April 2008, the County Board approved financial and debt management policies that affirmed the County’s existing debt capacity factors. The policies also included guidance on bond term and amortization, specifically that bond-funded projects will typically have a useful life at least as long as the period over which the bonds will be repaid (the average life of County bonds is 11-12 years and final maturity is generally twenty years; however, longer terms may be considered on very long useful life projects). Finally, the Board’s policies provided guidance on the use of variable rate debt and derivatives. The Board has periodically adopted revisions to the financial and debt management policies, most recently as part of the Adopted FY 2018 Operating Budget. These policies serve as the financial framework for the CIP, and a full copy of the adopted policies is included in the Financial & Debt Management Policies section.
The bond rating agencies that rate the County’s debt for potential investors use these debt ratios, coupled with other County and community economic factors. The three major bond rating agencies, Moody’s Investors Service, Standard & Poor’s, and Fitch Ratings currently rate the County Aaa/AAA /AAA (the highest possible). Arlington is one of a select national group of counties that currently hold these coveted Aaa/AAA/AAA ratings from the three major rating agencies. The County's bond ratings were reaffirmed in May 2018 and historical County bond trading in the secondary market confirm that Arlington belongs within the very top group of municipal credits in the national bond market. The funding levels contained in this CIP would maintain this status.
While there is no legal limit in Virginia on the level of debt issued by Virginia counties, Arlington has issued and plans to issue its debt prudently. Arlington will remain within the acceptable range of debt capacity factors with the CIP based on conservative assumptions, as illustrated on the following pages.
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Underlying Assumptions
The projected ratios shown in the following tables are based on the County’s Adopted FY 2019 – FY 2028 CIP. It is important to note that the County’s financial and debt management policies view debt capacity on a combined basis (i.e., County and Schools) as do the bond rating agencies.
The projected debt ratios are based on conservative revenue growth assumptions: 1.2% growth in FY 2020, slowly escalating to 3% in
FY 2027 and thereafter. Similarly conservative assumptions have been used for projected growth in market value of the County’s tax base (identical to revenue growth assumptions) and per capita income growth of 2 percent annually.
It should be noted that these debt ratios include only general obligation and other tax-supported debt, including bonds issued through
the Industrial Development Authority (IDA) or other conduit issuers for County projects where debt service is paid for from the General Fund. For example, these ratios include the subject-to-appropriation Series 2017 IDA revenue bonds issued in October 2017 for the acquisition of the Buck property, and for acquisition, design, and construction of the Head Start facility at 2920 South Glebe Road. The ratios do not include bonds where the County has provided a moral obligation pledge as credit support to a project (e.g., the Kettler Iceplex facility or the Gates of Ballston project). In charts C and D of this section, the customary general obligation debt to the tax base ratio chart has been amended to also show the effect of moral obligation or “subject-to-appropriation” backed capital financing. The ratios do not include debt that is supported by user fees from enterprise funds, including debt included for the Utilities Fund. Projected Debt Ratios Ratio of Debt Service to General Expenditures No Greater Than 10% -- Over the ten-year planning period, this ratio will range from 9.0% to 9.9%, peaking in FY 2027. Outstanding Debt as Percentage of Market Valuation of Tax Base No Greater than 3% -- The amount of debt that the County carries is moderate when compared to its tax base. This ratio is projected to range from 1.4% to 1.6% over the ten-year planning period. Ratio of Debt per Capita to Per Capita Income No Greater than 6% -- The County estimates that the Debt to Income ratio will range from 4.8% to 5.8%, assuming 2.2% growth in per capita income. Growth in Debt Service over the Ten-Year Planning Period No Greater than Ten-Year Historical Growth in Revenues – Average annual growth in debt service is estimated at 3.4% compared to historical average ten-year revenue growth of 3.5%.
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Chart A
FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028 Adopted
GENERAL OBLIGATION BONDS - COUNTY (1) 117,855,000 104,965,000 64,625,000 57,260,000 58,900,000 66,005,000 67,160,000 81,045,000 87,725,000 91,225,000
GENERAL OBLIGATION BONDS - SCHOOLS (1) 63,130,000 42,350,000 37,050,000 28,800,000 42,000,000 68,600,000 18,700,000 16,600,000 40,400,000 54,000,000
GENERAL OBLIGATION BONDS RETIRED 81,303,386 77,068,499 78,957,284 83,499,095 86,887,656 91,375,917 93,423,861 99,267,050 104,352,878 107,720,422
NET TAX-SUPPORTED GENERAL OBLIGATIONBONDS AT END OF FISCAL YEAR (2) 1,072,697,462 1,142,943,963 1,165,661,678 1,168,222,584 1,182,234,928 1,225,464,012 1,217,900,150 1,216,278,100 1,240,050,223 1,277,554,800
SUBJECT-TO-APPROPRIATION BOND ISSUANCE - - - 8,300,000 - 2,850,000 - - - -
SUBJECT-TO-APPROPRIATION BONDS RETIRED 4,625,000 4,470,000 5,790,000 5,845,000 7,095,714 7,145,714 7,622,857 6,542,857 6,627,857 6,712,857
NET TAX-SUPPORTED BONDS AT END OF FISCAL YEAR (3) 1,195,803,159 1,261,579,660 1,278,507,376 1,283,523,281 1,290,439,911 1,329,373,280 1,314,186,562 1,306,021,655 1,323,165,920 1,353,957,641
SCHOOLS DEBT SERVICE 58,494,132 59,160,556 61,364,583 61,392,716 61,649,178 63,822,853 68,998,645 66,785,778 69,135,119 66,095,032 COUNTY DEBT SERVICE (4) 69,462,282 72,785,510 77,893,709 83,976,703 88,928,003 92,174,731 91,749,019 98,411,071 101,099,257 108,824,819 TOTAL TAX SUPPORTED DEBT SERVICE 127,956,414 131,946,066 139,258,292 145,369,419 150,577,181 155,997,585 160,747,664 165,196,849 170,234,376 174,919,850
% GROWTH IN TAX-SUPPORTED DEBT SERVICE 7.5% 4.8% 7.0% 7.8% 5.9% 3.7% -0.5% 7.3% 2.7% 7.6%COUNTY ONLY 5.1%
% GROWTH IN TAX-SUPPORTED DEBT SERVICE 11.5% 3.1% 5.5% 4.4% 3.6% 3.6% 3.0% 2.8% 3.0% 2.8%COUNTY / SCHOOLS 3.5%Proposed CIP General Government Expenditures (2.6% less $7 1,345,341,851 1,385,702,107 1,427,273,170 1,470,091,365 1,514,194,106 1,559,619,929
GENERAL GOVERNMENT EXPENDITURES (5) 1,428,421,412 1,445,562,469 1,477,364,843 1,511,344,235 1,547,616,496 1,584,759,292 1,625,963,034 1,668,238,073 1,718,285,215 1,769,833,771 growth assumptions 1.20% 102.20% 102.30% 102.40% 102.40% 102.60% 102.60% 103.00% 103.00%
DEBT SERVICE AS % OF EXPENDITURES 8.96% 9.13% 9.43% 9.62% 9.73% 9.84% 9.89% 9.90% 9.91% 9.88%
MARKET VALUATION OF TAXABLE PROPERTY (6) 78,062,546,865 78,999,297,427 80,737,281,971 82,594,239,456 84,576,501,203 86,606,337,232 88,858,102,000 91,168,412,652 93,903,465,031 96,720,568,982 Consistent with FY2016 Adopted Budget 1.95% 1.20% 2.20% 2.30% 2.40% 2.40% 2.60% 2.60%
NET TAX SUPPORTED DEBT AS % OF MARKET VALUATION (3%) 1.5% 1.6% 1.6% 1.6% 1.5% 1.5% 1.5% 1.4% 1.4% 1.4%
POPULATION (7) 238,265 232,700 235,030 237,360 239,690 242,020 244,350 246,680 249,010 251,340
DEBT PER CAPITA $5,019 $5,421 $5,440 $5,407 $5,384 $5,493 $5,378 $5,294 $5,314 $5,387
INCOME PER CAPITA (8) $91,900 $93,922 $95,988 $98,100 $100,258 $102,464 $104,718 $107,022 $109,376 $111,782Consistent with FY2016 Adopted Budget 2.20% 2.20% 2.20% 2.20% 2.20% 2.20% 2.20% 2.20%
NET TAX-SUPPORTED GENERAL OBLIGATION DEBT TO INCOME (NOT TO EXCEED 6%) 5.5% 5.8% 5.7% 5.5% 5.4% 5.4% 5.1% 4.9% 4.9% 4.8%
6.00% 6.00% 6.00% 6.00%(1) Updated for 2018 GO Bond Issuance. 5% interest rate assumed on all other bond issuance(2) Excludes GO bonds issued for the Utilities Fund(3) Excludes credit support commitments on revenue bonds or lease-backed bond financings, includes IDA Bonds supported by the County's General Fund. For Subject to Appropriation debts, see Chart C.(4) Includes both General Obligation and Subject to Appropriation debt. Excludes Utilities Fund, Transportation Capital Fund Debt Service, and Other debt costs(5) Includes expenditures of General Fund and certain Special Revenue Funds of the County and School Board. Assumes 1.2% growth in FY 2020, ramping up to 3.0% in FY2027 and beyond(6) Includes real, personal property, and Public Property. Assumes 1.2% growth in FY 2020, ramping up to 3.0% in FY2027 and beyond(7) Population as of July 1, 2017 from the US Census with growth as estimated by MWCOG Round 8.4 Forecasts. (8) Source: Bureau of Economic Analysis 2016 estimates, with growth of 2.2% consistent with PCPI annual growth in Virginia from 2006 - 2016
Adopted FY 2019 - FY 2028 Capital Improvement PlanDebt Ratio Forecast
Arlington County, Virginia
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2019 2020 2021 2022 2023 2024 2025 2026 2027 2028Projection 8.96% 9.13% 9.43% 9.62% 9.73% 9.84% 9.89% 9.90% 9.91% 9.88%
Ceiling 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0% 10.0%
0.00%
2.00%
4.00%
6.00%
8.00%
10.00%
12.00%
Ratio of Tax‐Supported Debt Serviceto General Expenditures
Adopted FY 2019 ‐ FY 2028 Capital Improvement Plan(NOT TO EXCEED 10%)
Chart B
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Chart C
FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028Adopted
Tax-Supported General Obligation Debt $1,072,697,462 $1,142,943,963 $1,165,661,678 $1,168,222,584 $1,182,234,928 $1,225,464,012 $1,217,900,150 $1,216,278,100 $1,240,050,223 $1,277,554,800
Tax-Supported Subject to Appropriation ("STA") DebtCapital Equipment Short Term Financing (2) 19,171,484 20,414,756 20,794,101 18,319,741 17,307,597 15,422,839 19,704,885 25,526,752 26,924,602 24,676,878Industrial Development Authority (IDA) Bonds (3) 106,305,000 101,835,000 96,045,000 90,200,000 84,290,000 78,330,000 72,300,000 67,350,000 62,315,000 57,195,000 Subtotal $125,476,484 $122,249,756 $116,839,101 $108,519,741 $101,597,597 $93,752,839 $92,004,885 $92,876,752 $89,239,602 $81,871,878
Project-Supported Subject to Appropriation ("STA") Debt (4)IDA Lease Revenue Bonds (Ballston Skating Facility) (5) 21,945,000 20,740,000 19,480,000 18,155,000 16,760,000 15,290,000 13,740,000 12,100,000 10,365,000 8,525,000 Gates of Ballston (6) 23,000,000 23,000,000 23,000,000 23,000,000 Subtotal 44,945,000 43,740,000 42,480,000 41,155,000 16,760,000 15,290,000 13,740,000 12,100,000 10,365,000 8,525,000
Total Tax-Supported General Obligation (GO) & ALL STA Financings 1,243,118,945 1,308,933,719 1,324,980,780 1,317,897,324 1,300,592,526 1,334,506,851 1,323,645,036 1,321,254,852 1,339,654,825 1,367,951,679
Total Tax-Supported GO and Tax-Supported STA Financings 1,198,173,945 1,265,193,719 1,282,500,780 1,276,742,324 1,283,832,526 1,319,216,851 1,309,905,036 1,309,154,852 1,329,289,825 1,359,426,679
Total Project-Supported STA Financings 44,945,000 43,740,000 42,480,000 41,155,000 16,760,000 15,290,000 13,740,000 12,100,000 10,365,000 8,525,000
Market Value of Taxable Property 78,062,546,865 78,999,297,427 80,737,281,971 82,594,239,456 84,576,501,203 86,606,337,232 88,858,102,000 91,168,412,652 93,903,465,031 96,720,568,982
Total Tax-Supported GO & ALL STA Financings as Percent of Market Value (Not to Exceed 4%) 1.59% 1.66% 1.64% 1.60% 1.54% 1.54% 1.49% 1.45% 1.43% 1.41%
Total Tax-Supported GO & Tax-Supported STA Financingsas Percent of Market Value 1.53% 1.60% 1.59% 1.55% 1.52% 1.52% 1.47% 1.44% 1.42% 1.41%
Total Project-Supported STA Financings (Credit Enhancement)as Percent of Market Value (2) 0.06% 0.06% 0.05% 0.05% 0.02% 0.02% 0.02% 0.01% 0.01% 0.01%
(1) Excludes Self-supporting debt in the Utility Fund(2) Includes existing and planned capital equipment short term financing in the General Fund, Auto Fund, Utilities Fund and Schools Fund(3) Includes the Series 2011, 2013, and 2017 IDA Revenue Bonds(4) Debt service on these financings is intended to be repaid by user fees or tenant rental income, not by County General Fund revenues.(5) Includes the bonds issued by the IDA in 2010 to refinance the construction of two ice rinks, the office space, and the training facility on top of the 8th Level at the Ballston Parking Garage.
Adopted FY 2019 ‐ FY 2028 Capital Improvement PlanAs of June 30
Ratio of Outstanding Debt to Market ValueSummary of Tax‐Supported General Obligation Bonds & Subject To Appropriation‐Type Financings (1)
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FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028Project‐Supported 0.06% 0.06% 0.05% 0.05% 0.02% 0.02% 0.02% 0.01% 0.01% 0.01%
Tax‐Supported 1.53% 1.60% 1.59% 1.55% 1.52% 1.52% 1.47% 1.44% 1.42% 1.41%
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
Ratio of Tax‐Supported & Subject to Appropriation Financingas a Percentage of Market Value
Adopted FY 2019 ‐ FY 2028 Capital Improvement Plan
Tax‐Supported Project‐Supported
Chart D
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5.5%
5.8%5.7%
5.5%5.4% 5.4%
5.1%4.9% 4.9% 4.8%
0.0%
1.0%
2.0%
3.0%
4.0%
5.0%
6.0%
7.0%
FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025 FY 2026 FY 2027 FY 2028
Ratio of Tax‐Supported General Obligation Debt to IncomeAdopted FY 2019 ‐ FY 2028 Capital Improvement Plan
Not to Exceed 6%
Tax‐Supported Debt to Income Not to Exceed 6%
Chart E
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