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Comprehensive Plan Capital Improvements Element Appendix A constitutes the County's five year schedule of capital improvements. The purpose of the CIP is to ensure that improvements to existing facilities and construction of new facilities are completed as needed. By implementing the five year schedule of capital improvements, the county will ensure that appropriate areas will be served by needed facilities, thus maintaining adopted levels of service. Besides implementing the components of this element, the County coordinates. with the St. Johns River Water Management District (SJRWMD) and the various state agencies, such as the Florida Department of Transportation, when those agencies program facility or service improvements within Indian River County. The continuation of that coordination will ensure that .the plans of state agencies and the SJRWMD will be consistent with the Comprehensive Plan and the timing and location of capital improvements as identified in the CIE. Forecasted Revenues In order to develop a financially feasible schedule of capital improvements, projected revenues over the five-year CIP time period are calculated. Those revenues are then compared to anticipated expenditures on capital improvements. For the first three years of the plan, only committed and available revenue sources are utilized. In developing revenue estimates for that process, the County considers historic revenue trends, current and anticipated economic conditions, population and growth trends, legislative changes, and any other factors that may impact future revenue streams. That analysis is far more complex than projecting prior trends into the future. That is evident in the forecasted revenues shown in this section. Since the start of the decline of the housing boom and throughout the economic recession that followed, there was a gradual decrease in most of the County's revenue sources. With the ongoing economic recovery, forecasts show for all revenue sources except "Other Sources", an increase in total revenue through FY 202021/22, of 2:62_5%. The "Other Sources" category included revenue sources such as grants that can vary year to year. Many of the revenue sources identified in the CIP have unique characteristics. For example, sales taxes react differently than gas taxes to similar circumstances. The analysis accounts for such differences. Because. gas taxes are levied on a per gallon basis rather than a price percentage basis like the sales tax, gas taxes do not increase as a result of rising prices the way that sales taxes do. Further, gas taxes do not typically decline as significantly as sales taxes during economic slowdowns. For property taxes, impact fees, user fees, interest earnings, and other revenues, additional behavioral characteristics were considered in forecasting future receipts. All such forecasts were developed with the use of professionally accepted methodologies. To ensure a financially balanced CIP (see Appendix A), scheduled expenditures were constrained by projected revenues. Community Development Department Indian River County Adopted , Ordinance 2017- 28 P2 75