An Opportunity For Future Developers

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Additionally, with option one, there may be an opportunity for future developers in the area to contribute additional funding for further enhancements to the facility through the utilization of a separate P3. According to the Finance Code 6.7-4 G., this would only be one if the benefits exceed the costs of the P3, and when specific financial objectives can be achieved that are consistent with the overall financial policy and risks are analyzed.
Per Osceola County Budget Policy 4.03 B. 5., since both community center option one and option two have a useful life of more than 10 years and an item cost of over $25,000, the project must be budgeted in accordance with the Florida Administrative Code, 691-72.007, and be included in Capital
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The $10 million bond and debt service is depicted in Appendix (Table 6 - 9).
According to the CAFR (2014) and Appendix (Table 11), Osceola County already has a total liabilities comprised of the following:
1) Current liabilities of $58.4 MM, of which $20.8 MM is the current portion of outstanding bonded debt.
2) Non-current liabilities of $668.9 MM, of which $546.0 MM is the long-term portion of outstanding bonded debt.
Implementation Potential
After the impact on the budget was analyzed, with regards to the annual service debt amount for Osceola County, the “Debt Limit - other than General Obligation (GO) Debt and other debt paid by ad valorem taxes, neither state law nor Osceola County Home Rule Charter provides any limits on the amount of debt that may be incurred. However, the county will keep outstanding debt consistent with its creditworthiness, best practices, needs and affordability objectives.” (Finance Code 6.7-3, D.) With the aforementioned, the total debt service is considered slightly high without resident income to match; however, the debt is manageable at $82,167,046 according to the Moody’s financial assessment completed in 2015 is also depicted in Appendix (Table 11).
The operating budget was then analyzed to see if a community center could be included into the budget. Osceola
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