Transcript DESIGN BUILD FINANCE July 11, 2007 Robin M. Naitove, CPA Comptroller MAXIMIZATION OF WORK PROGRAM • Built on Cash Flow – Commitment Basis • Finance Plan/Cash.

DESIGN BUILD FINANCE
July 11, 2007
Robin M. Naitove, CPA
Comptroller
1
MAXIMIZATION OF WORK
PROGRAM
• Built on Cash Flow – Commitment Basis
• Finance Plan/Cash Forecast
– Historical Payout Trends
– Flow of Revenue Streams
2
ANNUAL LOW POINT CASH BALANCE &
CONTRACTUAL OBLIGATIONS
$10,000
Outstanding Obligations
$9,000
Cash Balance
$8,000
Millions
$7,000
$6,000
$5,000
$4,000
$3,000
$2,000
$1,000
$0
95/96
96/97
97/98
98/99
99/00
00/01
01/02
02/03
03/04
04/05
05/06
06/07
07/08
08/09
09/10
10/11
3
MAJOR ASSUMPTIONS
• Revenue Estimating Conference/Federal
Forecast
• Lapse Rates
• Letting Schedules
• Cash Payout Rates
• Federal Effective Rates
• Participation by other partners
• Impact of Significant Events
– Hurricanes
4
AVERAGE PROJECT PAYOUT
RATES
Program Area
IN-HOUSE SUPPORT
CONSULTANT SUPPORT
CONSTRUCTION
PUBLIC TRANSPORTATION
RIGHT OF WAY
Year 1
Percent
100.00%
11.40%
10.10%
21.90%
13.00%
Year 2
Percent
0.00%
37.30%
57.50%
41.00%
20.00%
Year 3
Percent
0.00%
38.50%
23.20%
23.20%
20.00%
Year 4
Percent
0.00%
12.60%
8.60%
11.40%
20.00%
Year 5
Percent
0.00%
0.10%
0.50%
2.50%
20.00%
Year 6
Percent
0.00%
0.00%
0.00%
0.00%
7.00%
TOTAL
Percent
100%
100%
100%
100%
100%
Example Construction Project
Work Program FY 2005
Project Flow
(dollars in millions)
COMMITMENT
Year 1
Year 2
Year 3
Year 4
Year 5
Year 6
TOTAL
$100
$10.1
$57.5
$23.2
$8.6
$0.5
$0.0
$100
5
CASH MODEL FLOW VS ACTUAL
CONTRACT FLOW
100%
90%
80%
70%
60%
50%
40%
30%
20%
10%
Interchange Contract flow
Interchange Cash Model Flow
Bridge Cash Model Flow
59
57
55
53
51
49
47
45
43
41
39
37
35
33
31
29
27
25
23
21
19
17
15
13
11
9
7
5
3
1
0%
Bridge Contract Flow
6
CASH FLOW MATRIX
Yr/Fund
Amount
F08
08/HPP
$7,464,056
$6,555,617
08/HPP
$1,779,383
$1,779,383
$1,779,383
08/IMD
$1,190,400
$1,190,400
$1,190,400
08/LF
$8,015,737
$8,015,737
$8,015,737
08/DI
$68,168,042
$613,512
09/DI
$110,525,782
$197,143,400
$18,154,649
F09
F10
F11
F12
F13
$908,439
TOTAL
$7,464,056
$16,769,338
$26,517,368
$20,177,740
$4,090,083
$994,732
$27,189,342
$42,994,529
$32,715,631
$6,631,547
$110,525,782
$18,672,509
$53,706,711
$63,172,270
$36,805,714
$6,631,547
$197,143,400
Federal Funds
State Funds
$68,168,042
Local Funds
7
CASH FLOW MATRIX (Continued)
FEDERAL
STATE
LOCAL
FY 08
$9,525,400
FY 09
$908,439
$17,764,070
$0
FY 10
$0
$53,706,711
$0
FY 11
$0
$63,172,270
$0
FY 12
$0
$36,805,714
$0
FY 13
$0
$6,631,547
$0
TOTAL
$613,512 $8,015,737
$10,433,839 $178,693,824 $8,015,737
8
QUARTERLY CASH AVAILABLE
FY
July 1
October 1
January 1
April 1
Total
2008
$6,408,378
$7,189,515
$4,403,378
$153,378
$18,154,649
2009
$4,441,018
$5,349,456
$4,441,018
$4,441,017
$18,672,509
2010
$13,426,678 $13,426,678 $13,426,678 $13,426,677
$53,706,711
2011
$15,793,068 $15,793,068 $15,793,067 $15,793,067
$63,172,270
2012
$9,201,429
$9,201,429
$9,201,428
$9,201,428
$36,805,714
2013
$1,657,887
$1,657,887
$1,657,887
$1,657,886
$6,631,547
Total
$197,143,400
9
METHOD OF COMPENSATION
• Lump Sum Contract
• Schedule of Values Basis for
Compensation Earned
– Construction Estimate/Receiving Report
• Invoice Monthly - Lesser of
– Compensation Earned
– Funds Available
10
PROMPT PAYMENT
• Section 215.422, Florida Statutes
• Timeframe for Approving Goods/Services
• Invoices Reduced, if Cash Not Available
11
OTHER FUNDING
REQUIREMENTS
– Construction Engineering Inspection
• Programmed in Year Project to Begin
• Design Build Finance Firm Advances
– FDOT Contracts
– Reimbursement Begins in Year Originally Programmed
– Bonus/Incentive/Stipend Payments
• Programmed in Year the Payments Become
Earnable
12
OTHER ITEMS
• Unsolicited Proposals
– Federal Authorization
– Cash Availability Schedule
• Standard Financial Language
– Method of Compensation and Funding
– Schedule of Values
– Prompt Payment Law
13
• Advertised
PROJECTS
– I-75 (District 1)
– Unsolicited - SR5/USI (District 6)
• Potential
– First Coast Outer Beltway (District 2)
– I-595 Express Lanes (District 4)
– I-95 and Pineda Interchange (District 5)
– 826/836 (District 6)
– I-4 Cross-town Connector (District 7)
14
QUESTIONS
[email protected]
850-414-4151
ftba db robin presentation.ppt
15