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					    Debt Management Department
                                 Mike Merrill
                                   Director

              Maria Jones
          Administrative Specialist

                                                   Tim Simon
                                           Senior Debt Finance Manager

                                                 Pi Tao Hsu
                                            Debt Finance Manager


                                                     Linda Miller
                                                Debt Finance Manager


                                               Robert Griffin
                                            Debt Finance Manager




4/16/08                                    Page 1
                                        SUMMARY BY FUNDING SOURCE
                                          FY 08/FY 09 DECISION UNITS

   DEPARTMENT:                                 DEBT MANAGEMENT DEPARTMENT
   FUND/SUBFUND:                               01-001-001 COUNTYWIDE GENERAL OPERATING FD

                                               Funding
                                               Source          Cost ($)      Positions       Cost ($)     Positions
            Decision Unit Title                Priority         FY 08         FY 08           FY 09        FY 09      Page #
                         Cumulative Total:                $       922,838         6.00   $      969,660        6.00
DESIRED SVC LEVEL




NEW MANDATES
                                  (Subtotal)              $       922,838         6.00   $      969,660        6.00




Debt Issuance and Management                                           993                        1,439
CONTINUATION
                                  (Subtotal)              $       921,845         6.00   $      968,221        6.00




Debt Issuance and Management                      2               383,976         3.00          403,505        3.00
MINIMUM SERVICE LEVEL
Debt Issuance and Management                      1       $       537,869         3.00   $      564,716        3.00




    FORM BF003
         4/16/08                                              Page 2
                                                                    FY 08/FY 09 DECISION UNIT                                                RECOMMENDED:
                                                                     DESCRIPTION AND COST                                                   RECOMMENDED
County Administrator’s recommendation applies to FY 09 only.
 Office:            Management Services                                                          SERVICE LEVEL:                                          PRIORITY:

 Department:        DEBT MANAGEMENT DEPARTMENT                                             MINIMUM SVC LEVEL Funding Source Priority #:                                         1

 Fund:              01-001 COUNTYWIDE GENERAL FUND                                                                            Department Priority #:                            1

 Subfund:           01-001-001 COUNTYWIDE GENERAL OPERATING FD                                                                SAP Number                                     N/A

 Index Code:        DME 01000                                                                                                 CIP Number:                                    N/A

 DECISION UNIT TITLE:                   Debt Issuance and Management
 MATRIX OF SERVICE:                     Debt Management
                                      RESOURCES:                                                                      Total Positions (Listed by Job Class)
      TOTAL COST:                         FY 08                        FY 09                                            (Use separate sheet if necessary)
 Personal Services                            516,608                       543,162                 Job Class                  Description                  FY 08                    FY 09
                                                                                                         8131      Debt Finance Manager                         1.00                     1.00
 Operating Expenses                               20,261                       20,554                    8131      Senior Debt Finance Manager                  1.00                     1.00
                                                                                                         8246      Director, Debt Management                    1.00                     1.00
 Grants and Aid                                          -                           -                                                                          0.00                     0.00
                                                                                                                                                                0.00                     0.00
 Capital Outlay                                     1,000                       1,000                                                                           0.00                     0.00
                                                                                                                            Total from page 2:                  0.00                     0.00
         TOTAL:                   $              537,869      $              564,716                   TOTAL:                                                            3.00             3.00

 PERFORMANCE MEASURES:
                                         MEASURE DESCRIPTION                                                               FY 07                  FY 08                     FY 09
 WORKLOAD:                       # of financing evaluations                                                                 37.00                       36.00                41.00
 # of new financings and refunding completed                                                                                24.00                       11.00                10.00
 bond issuance costs as % of par amount of bonds issued                                                                     1.50                          1.50               1.50

 IMPACT ON FY 08:
  Provides the capability for analyzing, developing and issuing new debt to fund capital requirements. Also provides for the management of debt oustanding, as well as 3rd party
  financial and associated contractual obligations (e.g., St. Pete Times Forum, Raymond James Stadium, Tampa Port Authority), to ensure compliance with bond convenants and
  related agreements, and to identify and act upon opportunities to refinance debt to generate savings and remove restrictive covenants.

  Provides assistant to teams and departments, authorities, agencies and constitutional officers with respect to alternative financing structures and costs. Provides general financial
  assistance to all departments and agencies with debt outstanding and those anticipating the future issuance of debt.

  The successful accomplisment of the objectives of this department is critical to the financial condition of the County and the ability of the County to accomplish its economic
  development goals. Tasks are time-critical such that they must be completed within a specific time period in order to maximize financial results. Job requirements are of a
  specialized, technical nature requiring advanced skills and knowledge of debt financial. (See continuation below.)




 IMPACT ON FY 09 (If Different):




 REVENUE IMPACT:
 Revenue Description:                  Index Code                      FY 08                     FY 09                                            Narrative:




                4/16/08                                                                    Page 3
                                                                                FY 08/FY 09 DECISION UNIT
                                                                                 DESCRIPTION AND COST
                                                                                          PAGE 2
Office:              Management Services
                                                                                                                                  Total Positions (Listed by Job Class)
Department:          DEBT MANAGEMENT DEPARTMENT
                                                                                                                                        (Continued from Page 1)
Funding Source Priority #:                                       1                                           Job Class                    Description                   FY 08                          FY 09
Department Priority #:                                           1                                                                                                          0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                                            0.00                           0.00
                                                                                                                                                  TOTAL (page 2):           0.00                           0.00
IMPACT ON FY 08 (continued):
An alternative for accomplishing these objectives would involve utilizing the services of the County's contracted Financial Advisor. Under this approach, the required funding level consistent with the
minimum level of service would exceed $1,128,000 (plus expensess) annually. Stated differently, the FY 08 proposed salary and benefits would provide only 2,690 hours of contracted financial advisory
serices, which is 48% of the 5,640 qualified manhours that are pvodied annually by staffing for this service level. Privatization at the current funding level would result in a 110% increase in cost to the
County. Also, since the FInancial Advisor's contract therm is one-year with anual renewalls up to a maximum of five years, dependence upon contracted services could result not only in a signficant
escalation in cost from one contract period to the next, but also in the loss of continuity (institutional memory) and efficiency as differnt companies are selected to provided financial advisory services.

In summary, the funding level of five positions (FTE's) is necessary to manager over $1 billion in debt outstanding, develop and implent financing plans for the County's capital improvement program and
ensure compliance with bond convenants and applicable laws, including the U.S. Securities and Exchange Commission's Secorary Markt Disclosure Rule.




IMPACT ON FY 09 (Continued):




                4/16/08                                                                            Page 4
   FY 08                                                                                                                       PRIORITY:

BUDGET CAPITAL OUTLAY DETAIL (BF105)                                                                       Funding Source Priority #:             1
                                                                                                           Department Priority #:                 1
                               DEBT MANAGEMENT
DEPARTMENT NAME:               DEPARTMENT                               DECISION UNIT TITLE:     Debt Issuance & Management

FUND/SUBFUND:                  01-001-001 COUNTYWIDE GENERAL OPERATING FD
APPROVALS:           ITS:                                               COMMUNICATIONS:                      FLEET:
   (1)            (2)          (3)                               (4)                               (5)         (6)             (7)                 (8)
PRIORITY        INDEX       SUBOBJECT                                                           PROPERTY      # OF            UNIT               TOTAL
NUMBER          CODE          CODE                DESCRIPTION AND JUSTIFICATION                  NUMBER      UNITS           COST ($)           COST ($)
CHARACTER 30 REQUESTS (related to character 60 items)
                                                                                                                         $            -     $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                                                                            $              -
                                                                                               TOTAL CHARACTER 30:                          $              -


CHARACTER 60 REQUESTS
   1          DME 01000         Computer Equiment not coverd under ISF Chargers                TBD                   1   $          1,000   $         1,000
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                                                                                                                                            $           -
                            This amount must agree to character 60 amount on Decision Unit     TOTAL CHARACTER 60:                          $         1,000
                                                                                               TOTAL:                                       $         1,000

PLEASE PREPARE A SEPARATE BF105 FORM FOR EACH DECISION UNIT WHERE YOU REQUEST CAPITAL FUNDING!



           4/16/08                                                                Page 5
With Modifications                                                FY 08/FY 09 DECISION UNIT                                                RECOMMENDED:
                                                                                                                                           RECOMMENDED
See note below:                                                      DESCRIPTION AND COST

Office:             Management Services                                                        SERVICE LEVEL:                                          PRIORITY:

Department:         DEBT MANAGEMENT DEPARTMENT                                           MINIMUM SVC LEVEL Funding Source Priority #:                                         2

Fund:               01-001 COUNTYWIDE GENERAL FUND                                                                          Department Priority #:                            1

Subfund:            01-001-001 COUNTYWIDE GENERAL OPERATING FD                                                              SAP Number                                     N/A

Index Code:         DME 01000                                                                                               CIP Number:                                    N/A

DECISION UNIT TITLE:                    Debt Issuance and Management
MATRIX OF SERVICE:                      Debt Management
                                      RESOURCES:                                                                   Total Positions (Listed by Job Class)
     TOTAL COST:                          FY 08                      FY 09                                            (Use separate sheet if necessary)
Personal Services                             363,715         $            382,951                Job Class                  Description                 FY 08                     FY 09
                                                                                                     A0124       Administrative Specialist                   1.00                      1.00
Operating Expenses                                20,261                     20,554                    8131      Debt Finance Manager                        2.00                      1.00
                                                                                                                                                             0.00                      1.00
Grants and Aid                                           -                         -                                                                         0.00                      0.00
                                                                                                                                                             0.00                      0.00
Capital Outlay                                           -                         -                                                                         0.00                      0.00
                                                                                                                         Total from page 2:                  0.00                      0.00
        TOTAL:                    $             383,976       $            403,505                   TOTAL:                                                            3.00             3.00

PERFORMANCE MEASURES:
                                         MEASURE DESCRIPTION                                                             FY 07                  FY 08                     FY 09
WORKLOAD:                         # of new financial and credit analysis                                                  15.00                       14.00                16.00
# of financings of authorities and other agencies evaluated                                                               15.00                       12.00                18.00
# of CDD applications evaluated                                                                                           12.00                       12.00                15.00

IMPACT ON FY 08:
Provides the capability for analyzing, developing and issuing new debt to fund capital requirements. Also provides for the management of debt oustanding, as well as 3rd party
financial and associated contractual obligations (e.g., St. Pete Times Forum, Raymond James Stadium, Tampa Port Authority), to ensure compliance with bond convenants and
related agreements, and to identify and act upon opportunities to refinance debt to generate savings and remove restrictive covenants.

Provides assistant to teams and departments, authorities, agencies and constitutional officers with respect to alternative financing structures and costs. Provides general financial
assistance to all departments and agencies with debt outstanding and those anticipating the future issuance of debt.

The successful accomplisment of the objectives of this department is critical to the financial contiion of the County and the ability of the County to accomplish its economic
development goals. Tasks are time-critical such that they must be completed within a specific time period in order to maximize financial results. Job requirements are of a
specialized, technical nature requiring advanced skills and knowledge of debt financial. (See continuation below.)




IMPACT ON FY 09 (If Different):




REVENUE IMPACT:
Revenue Description:                   Index Code                    FY 08                     FY 09                                            Narrative:




  Note:
  FY 08 Recommendation: Reduce operating by $1000
  FY 09 Recommendation: Reduce by one Debt Finance Manager position.




               4/16/08                                                                   Page 6
                                                                                 FY 08/FY 09 DECISION UNIT
                                                                                  DESCRIPTION AND COST
                                                                                           PAGE 2
Office:              Management Services
                                                                                                                                  Total Positions (Listed by Job Class)
Department:          DEBT MANAGEMENT DEPARTMENT
                                                                                                                                        (Continued from Page 1)
Funding Source Priority #:                                       2                                            Job Class                   Description                   FY 08                           FY 09
Department Priority #:                                           1                                                                                                          0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                                            0.00                            0.00
                                                                                                                                                  TOTAL (page 2):           0.00                            0.00
IMPACT ON FY 08 (continued):
An alternative for accomplishing these objectives would involve utilizing the services of the County's contracted Financial Advisor. Under this approach, the required funding level consistent with the
minimum level of service would exceed $752,000 (plus expensess) annually. Stated differently, the FY 08 proposed salary and benefits would provided only 1,920 hours of contracted financial advisory
serices, which is 51% of the 3,760 qualified manhours that are pvodied annually by staffing for this service level. Privatization at the current funding level would result in a 96% increase in cost to the
County. Also, since the FInancial Advisor's contract therm is one-year with anual renewalls up to a maximum of five years, dependence upon contracted services could result not only in a signficant
escalation in cost from one contract period to the next, but also in the loss of continuity (institutional memory) and efficiency as differnt companies are selected to provided financial advisory services.

In summary, the funding level of five positions (FTE's) is necessary to manager over $1 billion in debt outstanding, develop and implent financing plans for the County's capital improvement program and
ensure compliance with bond convenants and applicable laws, including the U.S. Securities and Exchange Commission's Secorary Markt Disclosure Rule.

Fully funding this decision unit provides administrative support for the Department and a mimimum level of associated funding for operating maintenance costs. In the absense of funding this decision
unit, administrative duties must be performed utilizing more costly professional staff and with the addtional consequence of deiveting a small professional staff from its primary responbilities.

This position requires an understanding of the terminology and processes used in the bond financial industry. To use temporary help would be detriment to the opration of the Department in that it would
divert minimum service level staff from the primary responsibilieis, which in turn would require additional (higher cost) support from the County's financil advisory and bond counsel.




IMPACT ON FY 09 (Continued):




                4/16/08                                                                             Page 7
                                                                  FY 08/FY 09 DECISION UNIT                                              NOT RECOMMENDED
                                                                                                                                         RECOMMENDED:
                                                                   DESCRIPTION AND COST
County Administrator’s recommendation applies to FY 09 only.
Office:              Management Services                                                       SERVICE LEVEL:                                       PRIORITY:

Department:          DEBT MANAGEMENT DEPARTMENT                                                   DESIRED                  Funding Source Priority #:                  3

Fund:                01-001 COUNTYWIDE GENERAL FUND                                                                        Department Priority #:                      1

Subfund:             01-001-001 COUNTYWIDE GENERAL OPERATING FD                                                            SAP Number                              N/A

Index Code:          DME 01000                                                                                             CIP Number:                             N/A

DECISION UNIT TITLE:                  Debt Issuance and Management
MATRIX OF SERVICE:                    Debt Management
                                    RESOURCES:                                                                     Total Positions (Listed by Job Class)
     TOTAL COST:                        FY 08                        FY 09                                           (Use separate sheet if necessary)
Personal Services                             $993                           $1,439               Job Class                 Description                  FY 08             FY 09
                                                                                                     R0124       Senior Administrative Specialist            0.00              0.00
Operating Expenses                                     -                           -                                                                         0.00              0.00
                                                                                                                                                             0.00              0.00
Grants and Aid                                         -                           -                                                                         0.00              0.00
                                                                                                                                                             0.00              0.00
Capital Outlay                                         -                           -                                                                         0.00              0.00
                                                                                                                         Total from page 2:                  0.00              0.00
        TOTAL:                  $                   993     $                 1,439                 TOTAL:                                                      0.00           0.00

PERFORMANCE MEASURES:
                                       MEASURE DESCRIPTION                                                               FY 07             FY 08                  FY 09
WORKLOAD:                      Credit Report & Secondary Market Report                                                    2.00                      2.00           2.00
Budget Preparation                                                                                                        1.00                      1.00           1.00
Financing Support                                                                                                        74.00                  86.00             92.00

IMPACT ON FY 08:
This position requires an understanding of the terminology and processes used in the bond financial industry. Assists the Director in the preparation and management of the
department budget in accordance with budget policies, guidelines and timetables establised by the BOCC. Manages the preparation of the County Credit Report required by the
BOCC's Debt Policty to be submitted annually to the BOCC. Monitors and coordinates administrative services, control sensitive and confidential information. To use temporary
help would be detriment to the operation of the Department in that it would divert minimum service level staff from the primary responsibilieis, which in turn would require
additional (higher cost) support from the County's financil advisory and bond counsel.

The financial impact for this positition reclassification for Projected FY 08 is an additional $993 and for Projected FY 09 is $1,439.




IMPACT ON FY 09 (If Different):




REVENUE IMPACT:
Revenue Description:                 Index Code                     FY 08                      FY 09                                       Narrative:




              4/16/08                                                                    Page 8
           IDENTIFICATION OF OPPORTUNITIES FOR EFFICIENCIES IN THE BUDGET
                                             FY 08 AND FY 09 BUDGET
 Efficiency already taken in Planned FY 09 budget.   (BF004)        RECOMMENDED
                                                                             RECOMMENDED




Department:      Debt Management

Program:         Allotments for Legislative Acts – Debt Issuance Costs
Identified Savings from FY 08 and FY 09 Continuation Level Budget         FY08                 FY09
                                                            Total:       30,000               30,000
Number of Positions to be Cut (if any):                                                        None
DESCRIPTION (use additional pages, as necessary):


Savings to come from reduction in Non-Departmental Allotments for Debt Issuance Costs

FY 07 Continuation Budget

Departmental (Char 10,20,60)     843,182
Non-Departmental Allotments      158,000
   Total                        1,001,182


3% Savings Requirement               x 0.03
                                     30,035

Application of 3% Savings:

Debt Issuance Costs (FY 06 Budget)     83,000
FY 08 & 09 Budget                      53,000
  FY 08 & 09 Decrease                  30,000




FORM BF004 (Revised 01/07)                                       (Continue on separate page, if necessary.)




     4/16/08                                      Page 9

				
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