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Land Acquisition Bonds - 2004 Referendum Total debt service expenses are budgeted at $4,750,312, a decrease of $25,248, or 0.5%. The millage rate is 0.3694, a decrease of 0.0094, or (2.5%). This millage can be decreased slightly due to the taxroll increase while still generating the same revenues as last year in orderto fund the debt service amount. Land acquisition expenses are budgeted in Special Revenue Fund 245. Solid Waste Disposal District (S.W.D.D.) NOTE: The Solid Waste Disposal District and Enterprise budgets are presented in accordance with Generally Accepted Accounting Principles (GAAP). As a result, capital and principal debt service payments are not included and depreciation is reflected. The total proposed S.W.D.D. budget is $11,685,228, an increase of $408,952, or 3.6% (page 39). This increase is caused largely due to the cost to resurface the access roads and engineering fees for a future landfill closure. Proposed residential assessment rates are increasing 12.8% to $79.94 per Equivalent Residential Unit. Commercial rates will also increase to $34.05 per W.G.0 up 11.9%. The proposed readiness -to -use fee is $19.37 per W.G.U, an increase of $0.56 or 3.0% from last fiscal year. The proposed Landfill Disposal of Ash Residue and Related Materials Not Suitable for. Production of Ethanol rate is $19.30 per ton, an increase of $0.49 or 2.6% from last fiscal year. These rate increases are needed to return S.W.D.D. to a sustained break-even financial position. Reduced revenues from tipping fees, interest earnings, and recycling sales have resulted in a loss for S.W.D.D. for the last four years. For example, interest earnings have declined from $2.4 million in FY 2006/07 to $100,000 for FY 2014/15. Numerous cost saving measures have been undertaken over the last few years to address the financial challenges including; privatization of convenience centers ($366,834 savings), INEOS vegetative waste processing ($284,510 gain), recycling sales RFP ($185,000 revenue increase), and dual stream recycling change ($299,284 savings). While the proposed rates represent an increase from the current year, it is important to note that S.W.D.D. has steadily decreased rates over the last fifteen years. Therefore, the proposed residential assessment rate is still below the rates charged in fiscal year 1996/97 ($80.08 per E.R.U.). Commercial rates reflect a similar trend as well. Please note, SWDD is in the process of updating the Solid Waste Master Plan. The results of this plan could change SWDD operations substantially in future years. For example, the budget includes $600,000 as a placeholder for Materials Recycling Facility (MRF) improvements since the final result of the Master Plan may result in differing needs for this facility. `8 - 13