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C� It is requested that the information presented herein be given consideration by the Board of County Commissioners at its meeting of May 12, 1998. At its meeting of April 21, 1998, the Board of County Commissioners requested that staff provide the Board a financial status report on the County's land acquisition program. This is that report. The various attachments to this report provide detail on the financial status of the bond program, considering actual spending to date and projected future spending. Attachment 1 is a sources and uses summary which provides an estimate of available bond funds based on existing cash balance, committed purchases, anticipated purchases, and issuance of the remaining $11 million in bonds. As shown in Attachment 1, the fund's actual cash balance is presently $4,920,092. This does not reflect existing land purchase commitments nor cost share reimbursements payable to the County. Since approval of the environmentally sensitive land acquisition bond referendum in November, 1992, and issuance of the first $15 million of bonds in July, 1995, land acquisition expenditures have occurred in several categories. These categories are: land costs, acquisition costs, initial management costs, and program administration. Besides those costs, there are several sources of program revenue. These include: interest income, cost share partner reimbursement, and program income. Attachment 2 is the LAAO Projects Costs & Revenues Report. As indicated in that report, the County's current program balance is slightly less than $3 million. That balance reflects issuance of only $15 million of the $26 million approved by the bond referendum. It also reflects anticipated expenditures for properties (Flinn, Harmony Oaks, Carson Platt) approved by the Board for acquisition, but not yet purchased. Finally, the current balance amount'includes cost share reimbursements associated with several of the properties. Of the four reimbursements, only one (Harmony Oaks) relates to a not -yet - approved grant application. The other three reimbursements are subject only to completion of administrative activities. Besides the properties purchased to date or approved for purchase, there are several other properties having a high probability of being purchased within the next year. These properties and their estimated costs are reflected under the anticipated activity category of Attachment 2. Of those five properties, two have May 12, 1998 27 H::K ;cl •