WASHINGTON COUNTY APPROVED BUDGET
FY 2026
concurrently; (5) ascertains if there are any projects dependent on one another; and (6) reviews the project’s impact on the operating budget. Adjustments to the final ranking may be necessary based on this extensive Capital Improvement Plan prioritization process. The CIP Committee provides an enterprise-wide view and prioritizes proposed projects while balancing project requests against known County objectives. After their review is complete, the CIP Committee presents the Ten-Year Capital Improvement Plan to the Board of County Commissioners. The County Commissioners review the recommended Ten-Year Capital Improvement Plan during budget workshops and at a public hearing prior to budget adoption. Program priorities, long-term service needs, and planning – like multi-dimensional ranking systems – complement rather than replace, the judgment that County officials must exercise in ranking requests for capital projects and acquisitions and developing the Capital Improvement Plan and Capital Budget.
Capital Improvement Plan Funding Sources
Funding sources in the Capital Improvement Plan are budgeted in each fiscal year in which they will be received. All potential funding sources are considered when developing the Capital Improvement Plan to ensure that projects are funded with appropriate revenue streams. Some projects are funded with project-specific revenues that benefit particular projects and/or users, as is the case with development fees. The other information considered when funding the Capital Improvement Plan is the results of the Debt Affordability Analysis, cash flow requirements of each project, and the financial costs associated with each funding source. Following are descriptions of the funding sources for the Capital Improvement Budget: Tax- Support Bonds are General Obligation Bonds secured by the full faith and credit of the issuer. General Obligation Bonds issued by the County are secured by a pledge of the County’s property taxing power and must be authorized by legislative authority. The amount to be issued in this fiscal year is based on the County’s debt affordability guidelines, debt policies, and future project costs. Self-Supported Bonds are issued for enterprise funds and the debt service is paid from user fees. Pay-Go Funds represent cash contributions from various operating funds for specific capital projects without a dedicated funding source. Federal and State Funds are for specific projects and are restrictive in nature. These funds are inconsistent from year-to-year and are not used as a base revenue stream. Fees and Taxes is the other major funding source. Excise tax is assessed for residential construction at $1 per sq foot (SF), and $0.50 SF for additions to residential properties. Excise tax for non-residential non-retail is assessed at $1 SF and non-residential retail at $1 SF for the first 15,000 SF and $3 SF thereafter. Budgeted excise tax is based on projected growth and development. Transfer tax is charged on recorded real property transfers in the County at a rate of 0.5%. Transfer tax revenue is based on projected home sales and recordation activity. In addition, the County has an Adequate Public Facilities Ordinance Fee and is used to generate revenue so that public facilities and services needed to support new development will be available concurrently with the impacts of the new developments.
2026 Budget Document
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