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Home My WebLink About2002 08 26 Informational F Amounts Owed on the Medical Transport Vehicle COMMISSION AGENDA ITEM F CONSENT INFORMATIONAL X PUBLIC HEARING REGULAR Augus~2002 MGR~ IDEPT~ Meeting A nthori 7Jlti on REQUEST: The Finance Department Requests the City Commission Review Information Regarding the Outstanding Amounts Owed on the Medical Transport Vehicles. PURPOSE: To relay information regarding amounts owed on the Medical Transport Vehicles. CONSIDERATIONS: A question was posed at a FY 03 Budget Workshop concerning the amounts currently outstanding on the Cities note and lease for Medical Transport vehicles. Below is a chart depicting the current data and following is a discussion of each of the financings. Lease Note Balance Pa off Date 1-26-04 6-1-05 The City has a capital lease outstanding in the amount of $43,289 for one of its Medical Transport Vehicles. The lease is paid off on 1/26/04. The City will incur approximately $1,796 in interest expense (7/26/02-1/26/04) through the end of the lease. This lease payment is reflected in the FY 03 budget in the Medical Transport Fund account number 57160 - Lease Payment. The City also has a note outstanding in the amount of $86, 117 for another one of its Medical Transport Vehicles. The note is paid off on 6/1/05. The note financed both our Medical Transport Vehicle and our Data Processing Equipment. The principal amount on the full note currently is $561,030. The City will incur approximately $53,197 in interest expense (6/1/02- 6/1/05) through the end of the note for the full note. The amount attributable to the financing of the Medical Transport Vehicle alone is approximately $8,166 through the end of this period. This note payment is reflected in the FY 03 budget in the Medical Transport Food account number 57110 - Debt Service - Principal and 57210 Debt Service - Interest. These two forms of financing are reflected in different expense accounts for ease of tracking in the Finance Department. The Medical Transport Fund had an audited Fund Balance of$387,061 at 9/30/01 and has added a net positive contribution of $21 ,845 to that balance as of 8/6/02 for a total Food Balance to date of $408,906. RECOMMENDATION: None - for information only. ATTACHMENTS: Finance Department Spreadsheet - Medical Transport Fund - Projected Fund Balance Fire Chief s Fire Department Transition Plan Fire Chiefs Fire Department/Medical Transport 5 year Capital Improvement Plan COMMISSION ACTION: CITY OF WINTER SPRINGS MEDICAL TRANSPORT FUND PROJECTED FUND BALANCE THROUGH FY 07 Actual Actual Budgeted Projected Projected Projected Projected Projected FYOO FY01 FY02 FY03 FY04 FY05 FY06 FY07 Revenue Operating $194,920 $181,758 $176,500 $175,000 $175,000 $175,000 $175,000 $175,000 Expense Operating $61 , 115 $66,986 $77,400 $81,270 $85,334 $89,600 $94,080 $98,784 Capital $1,546 $0 $33,000 $5,000 $130,000 $5,000 $195,000 $5,000 Lease $30,056 $30,100 $30,100 $30,100 $13,189 $0 $0 $0 Note $0 $26,529 $31,500 $31,500 $31,500 $31 ,283 $0 $0 Total Expense $92,717 $123,615 $172,000 $147,870 $260,023 $125,883 $289,080 $103,784 Beginning Fund Balance $226,233 $328,436 $386,579 $391,079 $418,209 $333,187 $382,303 $268,223 Appropriation to (from) $102,203 $58,143 $4,500 $27,130 ($85,023) $49,117 ($114,080) $71,216 Ending Fund Balance $328,436 $386,579 $391,079 $418,209 $333,187 $382,303 $268,223 $339,439 ASSUMPTIONS: * Flat revenues - trend indicates decreasing * 5% Increase in operating expenses * $5,000 annual capital outlay for equipment * $125,000 capital outlay in '04 for 5 heart monitor replacements * $190,000 capital outlay in '06 for Rescue #3 08/06/2002 16:55 4073274750 PAGE 01 Fire Department Transition Plan r EXPENSES 1 FY03 ( FY04 I~ FY05 L FY06 FY 07 --J Recurring Personnel - 8 Initial $ 382,487.00 $ 382,487.00 $ 382,487.00 $ 382,487.00 $ 382,487.00 Personnel - 4 Additional $ 191,244.00 $191,244.00 $191.244.00 Operating $ 10,000.00 $ 10,000.00 $ 15,000.00 $ 15,000.00 $ 15,000.00 Lease Purchase Vehicle $ 70,000.00 $ 70,000.00 Non-Recurring UnIforms $ 16,030.00 $ 8,015.00 Equipment $ 37,926.00 $ 80.000.00 Vehicle $ 25,000.00 To'al $ 471 ,443.00 $ 392.487.00 $ 676,746.00 $ 658,731.00 $ 658,731.00 Capital Outlay Fire Station - Property, Design. Plans 5100,000.00 Fire Station - Construction $ 700,000.00 To'.1 $ $100,000.00 $ 700,000.00 $ $ L REVENUE FY03 J FY04 FY05 r FY06 I FY07 General Fund $ 471,4.43.00 $ 392.487.00 $ 676,746.00 $ 658,731.00 $ 658,731.00 Fire Impact Fea $100,000.00 $ 500,000.00 Medical Transport Fund $ 200,000.00 Tots' $ 471,443.00 $ 492.487.00 $ 1,376.746.00 $ 658,731.00 $ 658.731.00 AUG-06-2002 17:07 4073274750 97% P.01 FIRE DEPARTMENT I MEDICAL TRANSPORT PROPOSED PROJECT EXPENDITURES BY YEAR :y Project Project Projected Year 1 Year 2 Year 3 Year4 Year 5 Total Prior Name Number 02/03 03/04 04/05 05/06 06/07 07/08 Air Cascade Compressor 99-2210-001 $20,000 $20,000 Hydraulic Rescue Tool 00-2210-001 $25,000 $25,000 Engine 124 01-2210-001 $280,000 $280,000 (' fleart Monitor Replacement (5) =:::: 03-170-001 (1125,000 $125,000 ::>tatlOn 3 02-2210-001 $1,000,000 $1,000,000 E nQlne...3.. 02-2210-002 $345,000 $345,000 , ( ReScue 3...-J 02-2210-003 (' $190,000 -:> $190,000 Car 8 / Battalion Chief Vehicle 03-2210-001 $30,000 $30,000 Car 5 / EMS Div. Vehicle 05-2210-001 $25,000 $25,000 Car 3 / Training Div, Vehicle 03-2210-002 $25,000 $25,000 TOTAL $45,000 $405,000 $1,345,000 $220,000 $25,000 $25,000 $2,065,000 $0 )(1 PROPOSED PROJECT REVENUE SOURCE BY YEAR 'if Revenue Project Projected Year 1 Year 2 Year 3 Year 4 Year 5 Total Prior Source Number 02/03 03/04 04/05 05/06 06/07 07/08 General Fund 99-2210-001 $20,000 $20,000 General Fund 00-2210-001 $25,000 $25,000 General Fund 01-2210-001 $280,000 $280,000 tvledicanffinsport Fund - 03-170-001 ~$125,50()'''' ;--.. $125,000 - ) ( FirelmJJ8clF-e-e-s-: Genera I Fund 02-2210-001 \ ~ $1,000,000 $1,000.000 Fire Impact Fees - G~neral Fund 02-2210-002 $345,000 $345,000 _ Medical Transport Fund-----=-' 02-2210-003 rC$190 000__ 3-' $190,000 " General Fund 03-2210-001 $30,000 $30,000 General Fund 05-2210-001 $25,000 $25,000 General Fund 03-2210-002 $25,000 $25,000 TOTAL $45,000 $405,000 $1,345,000 $220,000 $25,000 $25,000 $2,065,000 $0 ~ PROPOSED PROJECT OPERATING IMPACT BY YEAR Revenue Project Projected Year 1 Year2 Year 3 Year4 Year 5 Total Prior Source Number 02/03 03/04 04/05 05/06 06/07 07/08 Air Cascade Compressor 99-2210-001 $0 Hydraulic Rescue Tool 00-2210-001 $0 Engine 124 01-2210-001 $0 Heart Monitor Replacement (5) 03-170-001 $0 '\ FIRE DEPARTMENT I MEDICAL TRANSPORT Station 3 02-2210-001 $750,000 $750,000 Engine 3 02-2210-002 $10,000 $10,000 Rescue 3 02-2210-003 $7,500 $7,500 Car 8 / Battalion Chief Vehicle 03-2210-001 $0 Car 5/ EMS Div. Vehicle 05-2210-001 $0 Car 3 / Training Div. Vehicle 03-2210-002 $0 TOTAL $0 $0 $760,000 $7,500 $0 $0 $767,500 $0 Approval Date: Completion Date 05/13/02~7/08CIP.XLS