Is your local government doomed to fail because you failed to plan? Do you have a formal plan to replace capital assets one year, 三年, 五年, 或者10年后? 许多政府没有这样做，而且被蒙在鼓里. I hear finance officers’ concerns regarding this all the time. “It’s very hard to budget for these items if they don’t tell me about them,”,, “They approve this big project and have little or no idea how to pay for it.”
你能采取什么步骤?
- Identify the new items along with what old items that will need replaced and when.
这一步说起来容易做起来难. It will take the commitment and cooperation of many government officials and department heads. 考虑以下几点:
- 成立正式委员会. 委员会应包括, 但不一定限于, 财政和预算官员, directors in charge of departments with significant capital assets and top management making the decisions to spend the money on capital assets. The benefit of a formal committee is that it brings people with the capital asset replacement knowledge together with people making decisions and budgeting. Don’t be surprised if you will need to also involve various types of engineers. Engineers can give you valuable information regarding what will need to be replaced, 当需要更换时, 以及估计的成本.
- 优先考虑. 一旦愿望清单被委员会列出来, you will have the diplomatic task of prioritizing these projects. Some projects are easier to prioritize especially if one of your projects is a requirement of the Environmental Protection Agency (EPA).
- 制定一个如何支付这些物品的计划.
This step again will require input from everyone on the committee. Decisions will need to be made regarding the financing of the approved projects. 我们怎么付款? 我们只是把今天的现金储备留一部分吗, 增加的费用, 税, 或利率, 获得资助, 或者发行债务? These are difficult decisions and the answer could be one or a combination of all these options. Many local governments in Ohio are struggling financially due to operating costs rising faster than revenues. 状态 and federal grant cutbacks and increased competition to obtain these grants also have a negative impact. 考虑以下几点:
- 预算. Is your government budgeting for these projects one to 五年 into the future to determine if expected revenues are sufficient to cover expected operating costs, as well as these capital project expenses and/or related debt payments? Many local governments in Ohio are only required to budget one year ahead so preparing an internal budget tool providing two to 五年 of future operating information would be a big change to the normal routine. However, it would be a very important first step that affects the rest of your financing decisions.
- 现金储备. Do you have sufficient excess cash reserves today to pay for current and future capital asset costs? If so, do you have a plan in place to make sure that cash is going to be there in the future? 如果不是, you might need to consider doing rate/fee studies to determine if rate increases are necessary and when. I have been getting many calls lately from local governments asking me how they can legally start to save money for payment on future capital asset projects. The Ohio Revised Code does give guidance on this as follows:.
- “俄亥俄牧师. 法典§5705.13(C) provides that a taxing authority may create one or more capital projects funds to accumulate resources for the acquisition, 建设, 或改善固定资产, 包括机动车辆. 每个基金必须通过法令或决议设立. The resolution or ordinance must identify the asset(s) to be acquired, 需要积累的数量, the period over which the amount will be accumulated (with a limit of ten years from the date of the resolution or ordinance), 以及资源的来源. Money may be transferred to the capital projects fund from any other fund that could acquire the fixed assets. If a contract for the fixed asset(s) has not been entered into before the ten-year period expires, the money is returned to the fund from which it was transferred or that was originally intended to receive it. The taxing authority may rescind a capital projects fund at any time with the accumulated resources being returned to the fund from which they came.”
- 发行债券. Issuing debt is a very common method of financing capital assets. 这对贵国政府来说是最好的选择吗? 也许是，但也许不是. 许多因素影响着这个问题的答案. 利率有利吗?? 债务契约(如果有的话)是否过于严格? 现金流是否足以支付债务? You might consider seeking the advice of bond counsel regarding the debt market and also consider seeking the advice of a CPA to help you determine if it makes sense economically to issue debt instead of using your government’s own cash reserves.
- 奖助金. A large number of state and federal grants are out there. Does your government have a qualified grant administrator proactively researching what grants are available? 如果不是, consider hiring one or at least contract with one. Chances are good that a good grant administrator will more than pay for themselves.
There are cities throughout the United 状态s that are struggling financially, 一些公司甚至宣布破产. Don’t let your city fall prey to financial woes – start planning today for capital asset costs.
本文最初发表于 公开演讲, 一个意图 & 2014年4月17日.
注意: This content is accurate as of the date published above and is subject to change. Please seek professional advice before acting on any matter contained in this article.