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Land Acquisition Bonds- 2004 Referendum Total debt service expenses are budgeted at $4,537,636 a decrease of ($212,893), or (4.5%). The decrease is due to savings from refinancing the bonds during the current year. The millage rate is 0.3315, a decrease of 10.3%. This millage decrease combined with a small increase in the General Fund provides a decrease in the countywide millage rate that returns the refinancing savings to the taxpayer ($217,000/year). Solid Waste Disposal District (SWDD) 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 SWDD budget is $13,137,435, an increase of$1,452,207 or 12.4% (page 39). Proposed residential assessment rates are increasing 28.4% to $102.61 per Equivalent Residential Unit. Commercial rates will also increase to $35.55 per Waste Generation Unit (W.G.U) up 4.4%. The proposed readiness-to-use fee is $19.96 per W.G.U, an increase of 3.0% from last fiscal year. The proposed Landfill Disposal of Ash Residue and Related Materials Not Suitable for Production of Ethanol rate is $19.31 per ton, an increase of 1.3%from last fiscal year. The State is requiring SWDD to achieve a 75% recycling rate by 2020. In accordance with the SWDD Master Plan, the District is changing from the current dual - stream recycling program to single -stream recycling in order to make progress towards the 75% rate mandated by the State. This change has resulted in higher recycling collection costs ($750,000)which are offset by lower garbage collection costs (down 35%) for unincorporated area residents who subscribe to the franchise services. Single stream recycling processing costs are higher than dual stream due to additional sorting of materials. Lower net revenues were anticipated as a result of the change.to single stream. Over the last year, however, recycling market rates have dropped dramatically across the board. This is due to the drop in oil prices as well as other economic factors. These changes result in an additional net cost of$875,000 for SWDD. It should be noted that the anticipated cost to process SWDD's recyclables is greater than the cost to landfill them at current market rates. This additional expense has essentially been mandated by the State since SWDD will not achieve the 75% recycling rate based upon status quo operations. •Landfill operation costs are increasing as well due to a contractual CPI adjustment and increased tonnages during the current year ($300,000 impact). The solid waste industry is currently undergoing several disruptive changes. Staff anticipates that this trend will continue. SWDD will likely need to make adjustments for future changes. One area of concern is construction & demolition (C&D) debris. This is the largest revenue stream for SWDD other than assessments. SWDD has long been the primary processor of C&D waste in the ' • County. A new provider has recently begun operations,which may impact SWDD's C&D revenues going forward. 12